Accounting for Spoilage, Rework and Scrap, with Balanced Scorecard Seminar or Course
Course descriptionSpoilage, Rework and Scrap Ø Basic Terminology;Ø Accounting for Spoilage;Ø Types of Spoilage;Ø Process Costing and Spoilage;Ø Inspection Points and Spoilage;Ø The Five-Step Procedure for Process Costing with Spoilage;Ø Job Costing and Spoilage;Ø Job Costing and Accounting for Spoilage;Ø Job Costing and Rework;Ø Accounting for Scrap;Ø Aspects of Accounting for Scrap;Ø Number of Units of Normal and Abnormal Spoilage Changes, Depending on When Inspection Occurs. Balanced Scorecard: Quality, Time and Theory of Constraints Ø Quality as a Competitive Tool;Ø Two Basic Aspects of QualityØ Quality and FailureØ Four Perspectives of the Balanced Scorecard;Ø The Financial Perspective: Costs of Quality (COQ);Ø Elements of Costs of Quality Reports;Ø Cost of Quality Exclusions;Ø The Customer Perspective;Ø The Internal Business Process Perspective;Ø Pareto Diagrams;Ø Cause-and-Effect Diagrams;Ø Nonfinancial Measures of Internal Business Process Quality;Ø The Learning and Growth Perspective for Quality;Ø Advantages of COQ (Financial) Measures;Ø Advantages of Nonfinancial Measures of Quality;Ø Time as a Competitive Tool;Ø Two Operational Measures of Time;Ø Time Drivers;Ø Simple Time Presumptions;Ø Theory of Constraints and Throughput- Contribution Analysis;Ø Four Steps in Managing Bottleneck Operations;Ø Methods to Relieve Bottlenecks;Ø The Balanced Scorecard and Time-Related Measures.