Standard Costing Principles and Practice
Standard Costs
Cost Basics
Real Costs
Real Costs are historical costs that have been incurred in a prior period.
Default Costs
Default Costs represent a system in which costs are determined before the start of production activities for identification, classification, and control. They are classified as:
Estimated Costs
Estimated Costs represent the amount which the company anticipates a product or a process operation will actually cost for a certain period.
Standard Costs Defined
Standard Costs are scientifically
Read MoreUnderstanding Workplace Grapevine Communication
The most vital element of an organization is its staff management technique. Grapevine is a tool available to management that can provide influence over employees without causing bitterness. It offers an alternative path for exchanging information without following the tedious formal communication paths. It is neither pre-planned nor deliberately initiated by management. It is not written but oral. Furthermore, it is not confined to a particular direction, but spreads like a grapevine. The formal
Read MoreHerbert Simon: Organizational Decision-Making
Herbert Simon’s Organization Theory (1950-1960)
Herbert Simon emphasized the integration of formal and informal efforts within organizations. His work aimed to develop more realistic models of human behavior in administrative settings.
The Administrative Behavior (1946)
Simon’s early work, often referred to as “Administrative Behavior” (published 1947), focused on changes in organizational structure and operational management. It was based on more realistic models of human decision-making. Key concepts
Read MoreSpanish Employment Contracts: Types & Formalities
Types of Spanish Employment Contracts
Contract for Circumstances of Production
A mode of contract whose object is to meet the situational demands of the market, work, or excess accumulation of orders which are part of normal business activity.
Interim or Substitution Contract
A contract intended for substitution (with the right to keep the workplace) or to temporarily fill a position during the selection process for permanent coverage.
Training Contract
A contract intended for the acquisition of theoretical
Read MoreIT and Financial Services: Value Chain Disaggregation and Shared Services
IT & Financial Services
Disaggregation of Value Chain
Breaking down business operational processes into individual components and focusing each part in the most advantageous location. IT acts as the enabler to re-engineer processes.
Shared Services
Process of centralizing administrative functions into regional and/or global centers. This is achieved by either offshoring the business unit to another location (Shared Services) OR outsourcing the entire process to another entity (BPO).
Benefits
- Streamline
Essential Building Project Concepts
Memory
Two types: 1) descriptive memory, supporting calculations; and 2) simple and common, general memory and their appendages. Purpose of this project, legislation followed in developing/planning, Background, Feasibility, Current Situation, Situation reformed, Financial and Economic Study, Bibliography.
Plans
Binding. Should reflect everything related to the project with all graphic and textual details.
Specification
Binding. The most important document of the project during its physical implementation.
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