How we changed our accounting system: Digital Audio Disc needed hi-tech accounting to meet competition

Article Abstract:

The digital compact disc manufacturer Digital Audio Disc Corp (DADC) (Terre Haute, IN) was established in 1983 and began manufacturing in 1984. As the business matured, DADC had to design cost accounting and management information systems that allowed management to monitor and control operations to meet the demands generated by a highly competitive and changing market. The DADC cost management system identifies the resources consumed by production. These cost drivers are both production and nonproduction resource users. The cost accounting system categorized transactions into four categories based on their causes or cost activators: process, inspection, move, and wait. The cost system gives management the knowledge of the drivers that generate costs, thus providing management with the ability to reduce or eliminate them.

Accounting and auditing, Digital Audio Disc Corp.

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Accounting for hazardous waste: does your firm face potential liabilities?

Article Abstract:

The role of management accountants in hazardous waste reduction, control, and disclosure should include becoming familiar with the types of costs and liabilities involved; providing information necessary for companies to effectively distribute resources to lower their environmental risk; and properly recording, reporting, and accounting for the costs of hazardous waste. The steps that management accountants can take to assume leadership in helping companies handle environmental problems include categorizing environmental risks into low-, moderate-, and high-risk groups; working with production personnel to identify cost-effective techniques for reducing, transporting, and disposing wastes; and identifying and analyzing alternate production methods designed to reduce wastes.

Economic aspects, Hazardous wastes

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