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Essay / Research Paper Abstract
This 9 p-age paper looks at how accountants refer to full cost whilst at the same time using contribution theory and break-even analysis and critically appraises the two approaches which appear to contradict to each other. The bibliography cites 10 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEtotalc.rtf
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Unformatted sample text from the term paper:
the accountant that will playa vital role in the costing of the undertaking or continuance of the project. When undertaking any analysis there may be the use of full cost
whilst at the same time using contribution theory and break-even analysis, these may be seen as contradictory, but both necessary to the way in which any analysis takes place,. To
understand this conundrum we need to look at these different approaches to accounting and then we can consider who they may contradict each other, but hoe this may be necessary
and how it may be resolved. Full cost accounting is not the type of accounting that is generally seen. This is an approach that takes into consideration some aspects
that standard budgeting will ignore. The approach of full cost accounting is one which will take into consideration to full costs of all the resources used and not constrain itself
to the cash flows of each year. There are several concepts that underlie the use of full cost accounting, these are the way that there is an accounting got
the costs as opposed to the outlays of the business, its ability to take into consideration the hidden or external costs. The ability to include overhead and indirect costs, and
the ability to make allowances for past and future outlays. In many ways we may argue that this is an approach that ,ay be seen as support the matching convention,
where costs need to be matched to the revenue, as such the purchase of a piece of machinery may be matched to its use over the years, allowing for maintenance
and repair as well as initial outlay. The use of deprecation may be seen as a basic concept in the use of the matching concept and also the way in
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