Job costing: Under this method, costs are ascertained for each work order separately as each job has its own specifications and scope. Job costing is used, for example, in painting, car repair, decoration, and building repair. Jill was a Housewife of New York for seasons 1-4. September of 2011, Bravo announced that she, along with 3 others were not returning to the show. All of the New York cast is outspoken, and Jill is no exception. Always seeming to stir the pot or make apologies, but never really changing the behavior… hmmmm. For better or worse, Jill is who she is and has a ton of money to go with it.
You should be able to analyse and provide explanation for any variation from the proposed expenditure, be it positive or negative. This has to be accompanied by an action plan. This will ensure that the resources were used economically, efficiently, and effectively.
Hall and Young(1991) in a study in the UK of 3 samples of 100 small enterprises that were subject to involuntary liquidation in 1973,1978,and 1983 found out that the reasons given for failure,49.8% were of financial nature. On the perceptions of official receivers interviewed for the same small enterprises, 86.6% of the 247 reasons given were of a financial nature. The positive correlation between poor or nil financial management (including basic accounting) and business failure has well been documented in western countries according to Peacock (1985a).