Impact Of Standard Costing On Profitability And Managerial Effectiveness (A Case Study Of Ferdinand Industry Ltd, Urualla In Edeato North L.G.A., Imo State)

AMANOH IJEOMA 0 | 96 pages (15777 words) | Projects

ABSTRACT

The standard cost reveals the goals, spur actions, and provide check or controls such that exceptional profit oriented goal performance can be achieved and on the reverse, adequate punishment to be exercised for bad performance. Standard costs cause appraised to be made over production facilities and from management intentions and capabilities and is a first step in strength and weakness appraisal. These also led to the preference of standard costing to other methods with the development of standard costing system in 1920s, it was brought into the accounting system that total variances might be accumulated as well as detailed variances. It is believed that standard costing helps management to plan for future, and if any justification is required for this project on the effects of standard costing on profitability's and managerial effectiveness of a manufacturing industries. Firstly, the financial management should penetrate into every cranny of the enterprise and indoctrinate all management in their working habits. Secondly, cost should be given the maximum attention while emphasis on the effects. Finally, since revenue less cost gives balance profit, the profit should be increase as it is what industry is aiming at.

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APA

AMANOH, 0 (2021). Impact Of Standard Costing On Profitability And Managerial Effectiveness (A Case Study Of Ferdinand Industry Ltd, Urualla In Edeato North L.G.A., Imo State). Mouau.afribary.org: Retrieved Nov 27, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-standard-costing-on-profitability-and-managerial-effectiveness-a-case-study-of-ferdinand-industry-ltd-urualla-in-edeato-north-lga-imo-state-7-2

MLA 8th

0, AMANOH. "Impact Of Standard Costing On Profitability And Managerial Effectiveness (A Case Study Of Ferdinand Industry Ltd, Urualla In Edeato North L.G.A., Imo State)" Mouau.afribary.org. Mouau.afribary.org, 26 Jul. 2021, https://repository.mouau.edu.ng/work/view/impact-of-standard-costing-on-profitability-and-managerial-effectiveness-a-case-study-of-ferdinand-industry-ltd-urualla-in-edeato-north-lga-imo-state-7-2. Accessed 27 Nov. 2024.

MLA7

0, AMANOH. "Impact Of Standard Costing On Profitability And Managerial Effectiveness (A Case Study Of Ferdinand Industry Ltd, Urualla In Edeato North L.G.A., Imo State)". Mouau.afribary.org, Mouau.afribary.org, 26 Jul. 2021. Web. 27 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-standard-costing-on-profitability-and-managerial-effectiveness-a-case-study-of-ferdinand-industry-ltd-urualla-in-edeato-north-lga-imo-state-7-2 >.

Chicago

0, AMANOH. "Impact Of Standard Costing On Profitability And Managerial Effectiveness (A Case Study Of Ferdinand Industry Ltd, Urualla In Edeato North L.G.A., Imo State)" Mouau.afribary.org (2021). Accessed 27 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-standard-costing-on-profitability-and-managerial-effectiveness-a-case-study-of-ferdinand-industry-ltd-urualla-in-edeato-north-lga-imo-state-7-2

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