Traditional enterprise or ordinary business has profit making motive, shareholder accountability, and profit redistributed to shareholders, while social enterprise has mission motive, stakeholder accountability, and income reinvested in social programs or operational cost. The significance in traditional enterprise will be on financial and budget issues (economic value). Social enterprise focuses on social benefits (social value), however, need external or self-generated funds in order to achieve financial sustainability. Both types have a value to acquire sustainability equilibrium.
Management accounting and costing system will depend on the organizations activities. Traditional business usually use modern costing system called activity based costing, as it recognize a range of factors that can vary the costs of production. Social enterprise commonly use traditional costing system that assume production volume will be the only factor to change the costs of output.
ICare should use operation costing system in their organization. Operation costing represents two methods, which are job costing and process costing. With job costing, the direct material costs are accumulated by batches of manufactured eyeglasses and conv...
... middle of paper ...
... beginning work in process inventory and the cost per equivalent unit. ICare work for non-profit organization.
Activity based costing is the best way to allocate non-manufacturing costs, such as the costs of Vision Entrepreneur franchisee program (VEs). To calculate this expense, iCare should know the cost driver of this program in the beginning of this organization. In this procedure, the limitation of VEs is not
As iCare’s funders need to know the overhead costs in the business, process and activity based costing will be a great system to calculate the manufacturing overhead and non-manufacturing costs.
Operation costing is suitable for Icare as the business meets the needs of high volume batch manufactures, which in this case made in the batches of 100 and produce a small type of similar product using repetitive production processes (5 strength of eyeglasses).
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Company Description Champion Enterprises Inc. is one of the leaders in the manufactured home building industry. The company specializes in factory manufactured housing and building materials, specializing in two-story homes, multi-section homes, ranch-style homes, single-style homes, Cape Cod style homes, townhouses, duplexes, and triplexes. Modular homes maintenance cost is lower than traditional homes making them a better option. Champion Enterprises traded on the New York Stock Exchange under the ticker symbol CHB.... [tags: Business Analysis ]
1682 words (4.8 pages)
- Literature Review To understand the impact a new leader has on an organization we must identify what changes are necessary and what type of leader will institute these types of changes. The credit union industry, like many financial service businesses are being faced with significant industry environment changes (Sherwood, Wolfe, & Staley, 2005). These changes include a constant change in rules and regulations, shifting product offerings, changes in the office environments, and many other things that require the financial services world to adapt (Richards, 2016).... [tags: Financial services, Bank, Credit union]
1245 words (3.6 pages)
- First, the development of modern accounting information systems into the 1990s, Along with the rapid development of global economic integration and information technology, Internet, data transmission communication technology, Large database technology and e-commerce in this paper by the alliance collected papers are widely used, people entered the era of knowledge economy from industrial economy. Competition tends to be intense, people began to pursue a competitive advantage; Global economic ties are closer, fundamental changes in the competitive space enterprise development to globalization, companies in which the business environment has changed.... [tags: Enterprise resource planning, Management]
1482 words (4.2 pages)
- This paper will scrutinizes the actual impact of culture on financial management. Before I proceed to what I believe to be not only a factually inept argument of cultural influence on economics but also a grossly delusional and rather prejudiced view as well, I must first set some sort of context to what I am alluding to. The assignment stipulates for me to, address if the framework of financial management can apply to any country or culture. The simple and short answer to this is “no”, financial management is different depending on the country and or culture.... [tags: Business Management ]
1494 words (4.3 pages)
- Incorporating social media into customer relationship management (CRM) is the next challenge for enterprises that seek to get closer to their customers. The importance of social media has grown significantly over last decade. By March 2013, Facebook had 1.11 billion users , which is followed by Twitter with more than 554.75 million users, as of June 2013 . This explosion of using social media resulted in a change in traditional relationship between business and customers as control of this relationship shifted to the customer, who has power to influence others in his or her social network.... [tags: Social Media, Facebook, Twitter]
1345 words (3.8 pages)
- Introduction Modern information system is now popular all over the world, it also change the accounting area. Instead of the old manual analysis, many companies making effort in developing a fitted accounting information system for themselves, as they realize the advantages that the new technology brings in - more efficient and accurate in processing, integrated data, detailed record etc. However, even though there are so many benefits, the functional system also brings challenges, making new requirements to the accountants and auditors.... [tags: Accountancy, Accountant, Information system]
1216 words (3.5 pages)
- EA is constantly facing the effects of emerging technologies and concepts. IOE is no different. It also has a severe effect on EA. The conventional practices of EA are not able to scale and cater the transformation. Silo Frameworks and Reference models are becoming available for IOE to address the gaps between traditional EA and latest technologies. EA has to add new domain and disciplines to cover the new areas that IOE has opened up like Security and Data analytics. EA also requires transformation at various levels including framework, governance skills etc.... [tags: Enterprise architecture]
1620 words (4.6 pages)
- This paper will demonstrate the gap between traditional financial institutions and alternative financial services in vulnerable communities. In the past decade, low-income communities such as Baltimore City and the individuals who reside there have experienced limited access to financial services, affordable credit, and investment capital through traditional financial institutions. This is also known as “redlining” and today this limitation continues persistence of discriminatory lending practices in Baltimore city.... [tags: Financial services, Bank, Insurance]
2874 words (8.2 pages)
- The era of big vendors dominating the enterprise market may not be over quite yet, but new players are rapidly improving their ability to compete against large corporations such as Microsoft, Oracle and Cisco are still leading the way when giving companies solutions in managing technology to stay connected with their customers, suppliers and their people. Throughout this paper I will identify different solutions that will help promote business to operate at a higher efficiency. With the use of technology we analyze present employer and find out ways to make the business environment better.... [tags: Enterprise resource planning, Management]
1521 words (4.3 pages)
- The Impact of Nazi Policies on the Position and Role of Women in Germany, 1933-39 The Nazi regime aimed to utilize the family for its own needs. Women were obligated to marry and have children, instead of having their own personal decisions. The functions of the family were reduced to the single task of reproduction. They aimed to break the family, and to place it as a breeding and rearing institution completely in the service of the totalitarian state. The main objective of Hitler and the Nazis was to increase population to help with 'Volksgemeinschaft'.... [tags: Germany WWII World War 2]
1004 words (2.9 pages)