Use of computers in costing

Cost/Management Accounting notes

As the world is turning electronic, companies have no option other than to adapt to the technology. Such adoption enhances not only efficiencies but also controls. Computers have been widely used in costing. Many manufacturers use accounting software customized to Read More …

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Just in time inventory system

Cost/Management Accounting notes

This concept advocates zero inventory and stockless production through just-in-time purchasing and just-in-time production. Organizations create a closer relationship with the suppliers and arrange for more frequent deliveries of small quantities. The objective of just-in-time purchasing is to purchase goods Read More …

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