In a 1-2 page paper, please complete the following:
- Review the financial statements from the company you chose in week one.
- Discuss the types of costing method(s) the company uses. Give 1-2 examples of each method presented.
- Discuss why you believe these costing method(s) are appropriate for the products manufactured.
- Be sure that the paper has no spelling or grammatical errors.
Module 02 Project – Costing Methods: Use attachment to complete this assignment!!
PUBLIC MANUFACTURING COMPANY 3 Public Manufacturing Company Name: Rodney Wheeler Institution: Rasmussen College Course: A332/ACG3357 Section 02 Accounting for Business Managers Date: 05/19/17 Introduction Presently, Ford Motor Company is the third biggest auto manufacturing company in the world. It has been functional since its establishment in 1903. After such a long time, the industry has managed to revolutionize regarding its operations management. Presently the planning, controlling and decision-making in Ford have been set forth to meet the varying demands of the consumers internationally. Planning The company has a robust talent management plan that provision the plan of its operations. It has a strategic planning of the workforce that looks into the future of the company’s future and the establishment plans internationally (Goetsch, 2014). The strategic plan brings together the human resources, operations and the business strategies to evaluate the employees’ preparedness in developing a solid management of their talent in the industry. For instance, the company has many strategic pilots presently ongoing, one involving the recruiting operations of U.S. Control Control is the process whereby the company evaluates the actual outcome with the performance of the employees (kerzner, 2013). When the management of the company seemed not to find satisfactory from sick units, the company decided to sell these vehicles to Tata. Another example is when the company decided to reduce the number of employees to save money. The management is responsible for controlling all the operations of the enterprise. Decision Making Decision making in most manufacturing companies is very challenging today. The policy makers in Fords Motor Company face challenges when evaluating the various options that the firm has (Kerzner, 2013). The decision makers in this company make easier, systematic, effective, efficient and logic decisions. For example, the policy makers decide that the manufacturing engineers, managers, practitioners and designers are involved in the manufacturing and designing of the vehicles and parts. The decision making in the company is considerate in that in considers the employee’s skills and assigns the employees according to their areas of expertise. References Goetsch, D. L., & Davis, S. B. (2014). Quality management for organizational excellence. Upper Saddle River, NJ: Pearson. Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.