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Essay / Research Paper Abstract
This 5 page paper looks at the way in which Cost Profit Value accounting may still be useful in the 21st century, looking at how and when it may be used and the advantages that are offered which are not present in modern cost accounting methods such as activity based costing. The bibliography cites 6 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TECVP21c.rtf
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Unformatted sample text from the term paper:
the development of technology and ideas of increased accountability the move towards more holistic accounting models in order to assess financial performance. With new models such as activity based costing
(ABC) and simulation tools it may be argued that there is still a place for cost profit value costing in the twenty first century, but that the way it is
viewed may be changing. The cost profit volume analysis (CPV) is where there is an assessment of the amount of sales that need to be made and sold to
reach specific goals. The managerial accounts are used to calculate the total revenue and profit that will be generated as a result of a set level of sales, or
they can consider how many sales need to be made to reach a set level of profit. This takes into account both the fixed and the variable costs. Fixed costs
are those which stay the same regardless of the amount of units that are produced, up to a maximum capacity level, including items such as utility bills and insurance. Variables
costs are those which vary with the level of production, such as the materials that are used to produce the goods, they are costs which are no incurred unless the
units is made. The CPV will be based on assessing the contribution level of a product produced, this is the revenue less the variable costs. This contribution is the revenue
that will be left to pay the fixed costs and then to provide the profit. This can be used to assess how many units need to be sold for a
firm to break even, The benefit of CPV is the way that it can aid a firm in understanding clearly the link
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