Harriet Has Been Reviewing the Accounting System for Her Company

question 25

Essay

Harriet has been reviewing the accounting system for her company and she is very concerned about the accounting for spoilage. It appears that spoilage is accounted for only at the end of the processing cycle. While this concept is acceptable in general, Harriet believes that a better method can be found to properly account for the spoilage when it occurs. She believes that there must be something better than the weighted-average method of accounting for spoilage. She would like the company to use a method that provides closer tracking of the spoilage with the accounting for the spoilage.
Required:
Discuss the problems Harriet is having with the accounting system.

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Definitions:

Goal Shielding

The cognitive process of protecting one's focus and efforts towards a specific goal by minimizing distractions or competing goals.

Committed

The state of being dedicated or bound to a cause, activity, or other person.

Self-Regulation

The ability to manage one's own thoughts, emotions, and behaviors in accordance with personal goals.

Self-Control

The capacity to control one's feelings, thoughts, and actions when faced with desires and sudden urges.