GAAP, JIT, and TOC

Learner: Trieu The Hiep Course ID Number: MG5012 Faculty Mentor: Dr. ribbon wreath Cobb Course Title: Managerial method of accounting for Decision Making assignment 1- generally accepted accounting principles, JIT, and TOC Question/Prompt please outline the implications of GAAP in an outside(a) company and how JIT and TOC are beta to making managerial decisions on inventory and activity establish accounting. Please delineate miscellaneous cost categories and briefly describe each cost typesetters case and application within an enterprise. check up on of Subject Generally accept accountancy Principles (GAAP) is a wide accepted set of rules, conventions, standards, and procedures for recording, summarizing and reportage financial information and is widely applied by multinational companies nowadays. The line of work purlieu in recent years has been characterized by change order of magnitude competition and a relentless drive for continuous improvement. several(prenominal) approaches flip been developed to assist organizations in meeting these challenges- including just-in-time (JIT) and the theory of constraints (TOC). (Garrison and Noreen, 2000, p.33) In managerial accounting, the term cost is used in umteen different ways. The reason is that there are many types of cost, and these costs are classified differently according to the immediate ineluctably of management.

(Garrison and Noreen, 2000, p.44) This paper impart discuss the implications of GAAP in an international company, the importance of JIT and TOC in decision making and will develop the concept of cost classifications. Discussion The Implications of GAAP Gene! rally Accepted bill Principles (GAAP) is a widely accepted set of rules, conventions, standards, and procedures for recording, summarizing and reporting financial information, as established by the Financial Accounting Standards wit (FASB), an independent self-regulatory organization. In order to understand the implications of GAAP in international companies, we should study how GAAP was formed. In retainer of the...If you wishing to get a full essay, order it on our website: BestEssayCheap.com

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