Human resource accounting is the process of measuring and reporting the human resources of an organization. It is the process of providing information about individuals and groups of individuals, within an organization to decision-makers both inside and outside the organization.
Material Yield variance is the difference between the standard yield specified and the actual yield obtained. In other words, the difference between the actual yield of materials in manufacture and the standard yield (i.e. expected yield from a given standard input) valued at standard output price is known as materials yield variance.
(A) XX glass limited has been in operation for the past seven years and manufactures shower doors. Since its establishment, the company has used a traditional overhead absorption costing system. However, the managing director, Peter Kenny, is considering making a change.
Business risks are risks that the organization faces and which could prevent it from achieving its objectives. These risks will include operational, compliance and financial risks that face the business.
For example, the fact that debt becomes noncollectable is a business risk that will affect the liquidity of the business.