Accounting for labour and labour related costs in the shipbuilding and shiprepair industry
The study was carried out with the objective of understanding how companies in a labour intensive environment capture and incorporate the labour cost information into the accounting system. The shipbuilding and shiprepair industry, being labour intensive has provided a good model for us to carry...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/64042 |
| Summary: | The study was carried out with the objective of understanding how companies in a labour
intensive environment capture and incorporate the labour cost information into the
accounting system. The shipbuilding and shiprepair industry, being labour intensive has
provided a good model for us to carry out our study. The essence of our study is thus to
understand the accounting practices for labour and labour related costs in the industry.
It is hoped that the study will serve as a guide to the cost and management accountants in
the planning of their cost accounting system.
The study was done through a comprehensive survey coupled with company visits and
interviews with key personnel of two major shipyards. From the survey, the study group
was able to obtain an understanding of the common labour accounting practices prevalent
in the industry. The two case studies provided an in-depth study into the payroll
accounting and labour costing systems. This was achieved through informal discussions
and review of costing manuals. |
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