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IMPORTANT NOTE ABOUT THIS BOOK :
- The best selling general accounting books have emphasized principles and financial accounting which is concerned with record keeping and directed towards the preparation of profit and loss account and balance sheet, whereas ten years ago the hot topic were reengineering, going global merges, and management buyout.
- in short ,research and theory together with exercises and examples are important for effective learning. The specific example and exercises help students appreciate the pragmatic aspects of cost accounting theories and ideas and make them more interesting , So to get more out of this book, read and understand the theoretical and practical ideas.
ADP, or Automatic Data Processing, is a company that provides human resources and payroll services to businesses. In order to accurately track the cost of providing these services, ADP uses cost accounting to determine the costs associated with each service and evaluate the efficiency and effectiveness of its operations.
Some examples of cost accounting for ADP may include:
- Direct labor costs: These are the costs associated with the labor required to provide ADP’s services, such as payroll processing and HR support. This could include salaries, wages, and benefits for employees who directly contribute to the production of ADP’s services.
- Indirect costs: These are the costs that are not directly associated with the production of ADP’s services, but are still necessary for the company to operate. Examples of indirect costs for ADP may include rent, utilities, insurance, and office supplies.
- Fixed costs: These are costs that do not vary with changes in the level of production or sales. For ADP, this could include costs such as rent and salaries for employees who are not directly involved in providing services to customers.
- Variable costs: These are costs that change with changes in the level of production or sales. For ADP, this could include costs such as payroll processing fees and the cost of materials used to produce services.
By using cost accounting, ADP can determine the costs associated with each service and evaluate the efficiency and effectiveness of its operations. This allows the company to make informed decisions about pricing and resource allocation, and to optimize its operations to maximize profitability and customer satisfaction.