02 Jul Cost accounting/Taxation
Question Description
Job-costing is an important aspect of Managerial Accounting. Managers use a job-costing system to determine whether to bid on a job, how much to bid on the job, and to ensure they have enough resources to complete the job. By breaking down costs into direct and indirect costs, managers can identify the resources needed and apply the costs to each specific job. Once the costs are identified by job, and by indirect or direct costs, managers can analyze the costs to determine if there are any inefficient areas in the process, if costs can be reduced, or what the profit will be from producing that product or offering the service.
For the discussion below, assume you are advising the financial manager of a company that produces customized products.
Next, address the following question in your initial post:
How would job costing be used in a business that makes customized products?
-Break-
The IRS has issued guidance to aid in the determination of the proper handling of various types of income when preparing tax returns. This guidance can be found at the IRS (Links to an external site.)Links to an external site. website. The primary source of information is Publication 525, Taxable and Nontaxable Income. Because IRS agents who perform the initial reviews of returns may or may not note improperly categorized income, it is up to the taxpayer to avoid paying unnecessary tax. As a result, it is worthwhile to spend some time examining the information in this area.
For this discussion, review the list of topics in Publication 525, Taxable and Nontaxable Income (Links to an external site.)Links to an external site. [PDF, File Size 1.6 MB] and summarize a topic that you find to be of interest. Explain why this is an important item for taxpayers to understand. It is useful to think of this information in terms of how it can affect activities, such as investment decisions.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.