Olympic accounting authority- cost control systems
Summary :
Table of Contents
- Executive summary
- Introduction
- Costs budget
- Plans
- Implementation
- Performance reports and analysis
- Cost centers
- Control board
- Variance analysis
- Conclusion
- References
Abstract
In 2006 the olympic committee decided to dedicate £400 billion in order to establish a cost control system. This system is composed of two core elements: a planning process and a responsibility accounting scheme. The planning process requires enumerating the olympic committee plans of action, which are the construction of an olympic Park, the improvement of the transports, the development of sustainable issues, the celebration of cultures and the organization of the security; all those plans must then be implemented and cost. The olympic Games set up being the unique output; a job costing system appears to be the most suitable. Responsibility accounting involves the creation of units called responsibility centers, which have control over costs in the organization.
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