GAAP, JIT, and TOC

Learner: Trieu The Hiep Course ID Number: MG5012 Faculty Mentor: Dr. laurel wreath wreath Cobb Course Title: Managerial method of method of accounting for Decision Making assignment 1- generally accepted accounting principles, JIT, and TOC Question/Prompt recreate secernate the implications of GAAP in an outside(a) company and how JIT and TOC are significant to making managerial decisions on inventory and activity base accounting. Please delineate miscellaneous cost categories and briefly describe each cost typesetters case and application within an enterprise. recapitulation of Subject Generally received accountancy Principles (GAAP) is a wide accepted set of rules, conventions, standards, and procedures for recording, summarizing and report financial information and is wide applied by international companies nowadays. The line of work environment in recent years has been characterized by change order competition and a relentless drive for continuou s improvement. several(prenominal) approaches get down 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 umpteen different ways. The reason is that there are many types of cost, and these costs are classified differently according to the immediate call for 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 exempt the concept of cost classifications. Discussion The Implications of GAAP Generally Accepted score 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 amity of the...If you wishing to get a full essay, order it on our website: OrderEssay.net

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