Accounting Applications - Essay Example

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Accounting Applications

Value addition allows firms to effectively market their products and services, while putting emphasis on the power of brand rather than the commodity. Through value additions, firms can charge higher prices and enjoy competitive advantage. This is because products and services with higher added value are less price-elastic and difficult to be copied by the rival companies. Addition of value can either enhance the product’s value or price. For example, offering one month of free support on new software would be a value-added attribute (Pramanik 2005).The primary purpose of job functions in MYOB is to group certain transactions into a reportable entry. This is achieved by assigning a job for each profit centers, which for the case of the printing business can be assumed to be the two divisions including Hamilton and Auckland. Henceforth, every transaction that belongs to each division (profit center) is assigned to a job that is associated with it. Job reports, which represent the profit centers, are used to report the activity of each job. A job function is set up to follow income and expenses associated with service jobs. This function is especially helpful when performing multiple jobs for a particular customer. ...Show more

Summary

Ideally, job function is useful for companies that perform more than one job for the same customer, for example the printing business could be performing different jobs in the two divisions, but for the same customer. …
Author : ynikolaus
Accounting Applications essay example
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