Monster.ca

Cost Accounting Manager

Plant Controller

Regional / Area Controller

Assistant Controller

Controller (General)

A Cost Accountant analyzes the cost of company products or services, determines factors affecting costs, and makes recommendations for managing costs. Analyzes financial processes within a company or organization and develops internal cost reporting and accounting systems.

Accounting Analyst

Financial Analyst (General)

Cost Accountant

Revaluation is a change in a price of a good or product, or especially of a currency, in which case it is specifically an official rise of the value of the currency in relation to a foreign currency in a fixed exchange rate system. In contrast, a devaluation is an official reduction in the value of the currency. Under floating exchange rates, a rise in a currency's value is an appreciation. Altering the face value of a currency without changing its purchasing power is a redenomination, not a revaluation.

Revaluation

Closing entries are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts. An "income summary" account may be used to show the balance between revenue and expenses, or they could be directly closed against retained earnings where dividend payments will be deducted from. This process is used to reset the balance of these temporary accounts to zero for the next accounting period.

Month-End Closing

Cost accounting is defined as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, classifying, allocating, aggregating and reporting such costs and comparing them with standard costs." (IMA) Often considered a subset of managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future.

Cost Accounting

An inventory valuation allows a company to provide a monetary value for items that make up their inventory. Inventories are usually the largest current asset of a business, and proper measurement of them is necessary to assure accurate financial statements. If inventory is not properly measured, expenses and revenues cannot be properly matched and a company could make poor business decisions.

Inventory Valuation

A cycle count is a perpetual inventory auditing procedure, where you follow a regularly repeated sequence of checks on a subset of inventory. Cycle counts contrast with traditional physical inventory in that a traditional physical inventory ceases operations at a facility while all items are counted. Cycle counts are less disruptive to daily operations, provide an ongoing measure of inventory accuracy and procedure execution, and can be tailored to focus on items with higher value, higher movement volume, or that are critical to business processes. Although some say that cycle counting should only be performed in facilities with a high degree of inventory accuracy, cycle counting is a means of achieving and sustaining high degrees of accuracy. Cycle counting can be used to identify root causes of problems in control processes and then monitor the effectiveness of the actions to eliminate the root causes. In contrast, identifying root causes of inventory errors, agreeing on actions to eliminate them to the point of perfecting control processes is virtually impossible with traditional inventory audit approaches.

Cycle Counting

Generally Accepted Accounting Principles is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the latter differ considerably from GAAP and progress has been slow and uncertain. More recently, the SEC has acknowledged that there is no longer a push to move more U.S companies to IFRS so the two sets of standards will "continue to coexist" for the foreseeable future.

Location	Median Salary
Thunder Bay, Ontario	$69,888
National	$69,888
Location +/-	0% Higher
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Location	Median Salary
Thunder Bay, Ontario	$69,888
National	$69,888
Location +/-	0% Higher
	Search another salary
	Show me related jobs

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