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Cost per patient-year N$22 000 N$29 800 N$22 667 1 3 Advantages (benefits) which Medicare could obtain by implementing an ABC system: 1 Medicare can gain a more detailed understanding of costs and cost drivers This is useful from a cost management perspective 2 ABC will help Medicare identifying which programs are the most costly to operate 3
1 Explain the meaning and scope of cost accounting; 2 S tate the objectives of cost accounting; 3 D ifferentiate between cost accounting and financial accounting; 4 Comprehend the importance of cost accounting ; 5 Understand the Objections to Cost Accounting and rebuttal thereof ; 6
• The amount of pension cost for defined benefit plan shall be determined by the use of an immediate-gain actuarial cost method • The amount of pension costs for a cost accounting period are assignable only to that period • Costs are allocable to the extent that they are funded • Effective date: March 30, 1995 - Next cost accounting period
Where Y = total cost, in thousand dollars and X = output in thousand units ii) If the output is 22 000 units, we would expect costs to be 28 + 2 6 x22 = 85 2 = N$85 200 b) We might guess that the trend line is rising steadily, by (57 – 40)/4 = 4 25 per quarter in the
ASSIGNMENT 1 QUESTION 1 [16 Marks] a) No Statement Financial Accounting Management Accounting Mark 1 Prepares financial statements 2 Emphasis is on the past rather than the future 3 Focuses on parts as well as the entire enterprise 4 It is subject to the principles of GAAP 5
SESSION 1: INTRODUCTION TO COST ACCOUNTING Learning Without manual horse power only machines cannot complete the process Labour can be Assignment of whole items of overheads to cost centres is known as allocation 3
Cost Accounting is a branch of accounting and has been developed due to limitations of financial accounting classification, accumulation, assignment and control of costs ” The costing The manual methods of time keeping are as follows:
1 1 Professional Certifications in Management Accounting 2 Cost accounting can be defined as the collection, assignment, and interpretation of cost In The extra labor in a CAPlayer is directly related to the manual labor for sewing
utilisation of labour force and for that, proper accounting and control of labour are will ensure the accuracy of assignment by comparing different elements Uniform cost manual is a booklet containing detailed instructions to be followed by