A concise overview outlining the first tasks and {qualifications} anticipated of an expert in control of analyzing and managing an organization’s prices. It sometimes encapsulates the core duties involving price evaluation, budgeting, reporting, and stock valuation, together with the required abilities and expertise. As an illustration, a doc of this sort would possibly spotlight the necessity for experience in normal costing, variance evaluation, and monetary reporting software program.
Such documentation is pivotal for recruitment and inside position clarification. It offers candidates with a transparent understanding of the place’s calls for, facilitating a extra focused utility course of. Internally, it serves as a benchmark for efficiency analysis and profession improvement. Traditionally, the evolution of those summaries displays the rising complexity of price accounting practices and the rising significance of data-driven decision-making inside organizations.
Given the foundational nature of this doc, subsequent discussions will delve into particular parts resembling important abilities, tasks, and the position’s impression on organizational effectivity and profitability. It will provide a deeper appreciation of the essential features encompassed throughout the place.
1. Duties
The delineation of tasks types a cornerstone of any efficient price accountant job abstract, offering candidates and inside stakeholders with a transparent understanding of the place’s expectations and required duties. Readability on this part is paramount for attracting certified candidates and guaranteeing profitable job efficiency.
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Price Evaluation and Reporting
This core duty includes meticulous examination of producing prices, together with uncooked supplies, labor, and overhead. Correct reporting, usually offered within the type of month-to-month or quarterly monetary statements, permits administration to trace bills, determine areas for enchancment, and make knowledgeable enterprise selections. For instance, analyzing variances between budgeted and precise prices helps pinpoint inefficiencies in manufacturing processes.
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Budgeting and Forecasting
Growing and sustaining budgets is one other crucial operate. This requires collaborating with numerous departments to challenge future bills and revenues. A price accountant leverages historic information and market developments to create sensible monetary plans. Take into account the state of affairs the place a brand new product line is launched; the price accountant can be chargeable for forecasting the related prices, together with supplies, labor, and advertising and marketing bills.
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Stock Valuation and Management
Correctly valuing and controlling stock is essential for correct monetary reporting and environment friendly operations. Duties embrace monitoring stock ranges, calculating the price of items offered, and implementing inside controls to forestall loss or obsolescence. Common stock audits, as an example, make sure the accuracy of recorded stock portions and values.
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Compliance and Auditing
Guaranteeing compliance with accounting requirements and rules is a major duty. This consists of making ready documentation for inside and exterior audits, in addition to adhering to Typically Accepted Accounting Ideas (GAAP). For instance, a price accountant should meticulously doc price accounting procedures to show compliance with Sarbanes-Oxley (SOX) necessities.
The desired tasks straight affect the general efficacy of a price accountant job abstract. A well-articulated and complete listing of duties ensures that potential candidates possess the requisite abilities and expertise, resulting in improved worker choice and organizational efficiency. The interaction between clear duty definition and competent execution of those duties is prime to efficient price administration.
2. {Qualifications}
The ‘{qualifications}’ part inside a price accountant job abstract serves as a crucial filter, straight influencing the applicant pool and subsequent hiring selections. Academic attainment, certifications, and particular talent units outlined on this part straight correlate with the flexibility of a candidate to carry out the duties described elsewhere within the abstract. For instance, a requirement for a Licensed Administration Accountant (CMA) designation alerts a necessity for experience in monetary planning, evaluation, management, resolution assist, {and professional} ethics competencies usually important for efficient price administration. Failure to precisely outline these {qualifications} ends in a misalignment between the capabilities of employed personnel and the calls for of the position.
The specification of software program proficiency additional illustrates this connection. A job abstract that calls for expertise with Enterprise Useful resource Planning (ERP) methods, resembling SAP or Oracle, displays the prevalent use of such platforms for price accounting features. The absence of this qualification, or the underestimation of its significance, can result in decreased effectivity and elevated coaching prices. Equally, itemizing particular years of expertise in price accounting ensures candidates possess sensible data and familiarity with {industry} greatest practices. This expertise interprets to faster onboarding and a decreased studying curve, benefiting the group’s backside line.
In abstract, the {qualifications} detailed in a price accountant job abstract usually are not merely an inventory of fascinating attributes, however fairly a basic part influencing the effectiveness of the position and the general success of price administration processes. Misrepresenting or overlooking related {qualifications} creates challenges in recruitment and might finally compromise the integrity of economic reporting and decision-making. Subsequently, cautious consideration and exact articulation of the required {qualifications} are paramount for crafting a job abstract that draws and secures certified people.
3. Price Evaluation
Price evaluation constitutes a central component inside a price accountant’s tasks. Its prominence warrants specific inclusion and detailed clarification inside any job abstract. The effectiveness of a price accountant hinges straight upon his or her proficiency in price evaluation. Consequently, a complete job abstract elucidates the anticipated depth and breadth of analytical abilities. For instance, a abstract would possibly specify experience in activity-based costing, variance evaluation, or marginal costing strategies, demonstrating the expectation that the incumbent can apply these methodologies to enhance price management and profitability. The absence of a strong price evaluation part in a job abstract implies a diminished position for data-driven decision-making, doubtlessly leading to suboptimal price administration methods.
The actual-world significance of price evaluation is clear throughout industries. In manufacturing, a price accountant makes use of price evaluation to determine inefficiencies within the manufacturing course of, resulting in decreased materials waste and streamlined operations. Within the service sector, price evaluation aids in figuring out the profitability of assorted service choices, informing pricing methods and useful resource allocation. Take into account a hospital using price evaluation to establish the true price of offering totally different medical procedures. This informs negotiations with insurance coverage suppliers and helps optimize useful resource utilization, aligning the service supplied with fiscal duty. Such sensible functions underscore the need of clearly defining price evaluation expectations inside a job abstract, guaranteeing potential candidates possess the talents to deal with real-world challenges.
In conclusion, the inextricable hyperlink between price evaluation and the price accountant job abstract can’t be overstated. Its detailed description ensures that the precise candidates, geared up with the required analytical prowess, are interested in and chosen for the position. Whereas challenges might come up in precisely quantifying analytical capabilities in the course of the hiring course of, a well-crafted job abstract that emphasizes the significance and utility of price evaluation represents a vital step towards efficient price administration inside a corporation. This focus finally contributes to improved monetary efficiency and strategic decision-making.
4. Budgeting
Budgeting features as a crucial part inside the price accountant’s area, straight shaping monetary planning and management inside a corporation. A price accountant job abstract invariably highlights tasks associated to funds preparation, monitoring, and variance evaluation. The event of correct budgets depends closely on the price accountant’s understanding of price buildings, manufacturing processes, and market dynamics. As an illustration, in a producing setting, the price accountant collaborates with manufacturing managers to ascertain budgets for uncooked supplies, labor, and overhead, contemplating anticipated manufacturing volumes and materials value fluctuations. With out these insights, budgetary frameworks can be rendered ineffective, resulting in inaccurate monetary projections and compromised useful resource allocation.
Budgeting’s significance extends past mere monetary forecasting. It additionally serves as a benchmark towards which precise efficiency is evaluated. Price accountants constantly monitor precise bills towards budgeted quantities, figuring out variances that warrant additional investigation. If, for instance, precise labor prices exceed budgeted ranges, the price accountant analyzes the trigger, doubtlessly uncovering inefficiencies in workforce administration or sudden time beyond regulation bills. This proactive monitoring allows administration to take corrective actions, guaranteeing that monetary efficiency aligns with strategic aims. Moreover, funds preparation offers a chance to determine potential price financial savings and effectivity enhancements, driving total profitability.
In conclusion, budgeting types an indispensable component of the price accountant’s tasks, underscoring its significance in a complete job abstract. Its impression extends from monetary planning and useful resource allocation to efficiency monitoring and value management. Whereas challenges might exist in creating correct budgets attributable to unexpected market circumstances or inside operational adjustments, the price accountant’s position in offering monetary insights and evaluation stays paramount for efficient budgetary administration. Precisely reflecting this budgeting operate within the job abstract is essential for attracting candidates with the required abilities and expertise, contributing on to the group’s monetary stability and strategic success.
5. Reporting
Reporting, as a core operate, holds substantial significance inside a price accountant job abstract. It’s the formal mechanism by which cost-related insights are communicated to administration and stakeholders, influencing strategic selections and operational enhancements. The detailed articulation of reporting tasks throughout the abstract defines the anticipated scope and frequency of those communications.
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Monetary Assertion Preparation
The preparation of correct and well timed monetary statements, together with earnings statements, steadiness sheets, and money move statements, represents a key reporting duty. These statements present a consolidated view of the corporate’s monetary efficiency and place, incorporating price accounting information. A price accountant’s position includes guaranteeing the accuracy and integrity of cost-related information utilized in these reviews. For instance, the correct calculation and allocation of producing overhead straight impacts the price of items offered, influencing the earnings assertion’s profitability figures. Failure to correctly put together these statements can result in inaccurate monetary reporting and flawed decision-making.
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Variance Evaluation Reporting
Variance evaluation reporting identifies and explains deviations between deliberate or budgeted prices and precise prices. This reporting highlights areas the place price management is missing or the place sudden bills have occurred. The job abstract ought to specify the forms of variances the price accountant is anticipated to research, resembling materials value variances, labor charge variances, or overhead spending variances. As an illustration, a report would possibly clarify a major enhance in materials prices attributable to unexpected provide chain disruptions, offering insights for sourcing changes. Clear and concise variance reporting is essential for proactive price administration and operational enhancements.
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Price of Items Offered (COGS) Reporting
Detailed reporting on the price of items offered is crucial for understanding the profitability of services or products. This reporting breaks down the assorted price elements that comprise COGS, together with direct supplies, direct labor, and manufacturing overhead. The job abstract ought to point out the extent of element required in COGS reporting, resembling reporting by product line, geographic area, or buyer phase. Correct COGS reporting permits administration to evaluate the profitability of particular person merchandise and make knowledgeable pricing selections. For instance, a report displaying a excessive COGS for a selected product might immediate a assessment of its manufacturing course of to determine price discount alternatives.
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Inside Administration Reporting
Past exterior monetary statements, price accountants usually put together inside administration reviews tailor-made to particular departmental or managerial wants. These reviews might concentrate on key efficiency indicators (KPIs), price developments, or project-specific price analyses. The job abstract ought to define the forms of inside reviews the price accountant is anticipated to generate and the recipients of those reviews. For instance, a price accountant would possibly put together a report for the advertising and marketing division detailing the prices related to a brand new promoting marketing campaign, enabling them to evaluate its return on funding. Efficient inside reporting empowers managers to make data-driven selections and enhance operational effectivity.
The sides of reporting mentioned above all reinforce the central position of efficient communication inside the price accountant occupation. A well-defined job abstract should clearly define the particular reporting necessities, guaranteeing that potential candidates possess the required analytical, technical, and communication abilities to meet these tasks. The accuracy, timeliness, and readability of price accounting reviews are pivotal for supporting knowledgeable decision-making in any respect ranges of the group.
6. Stock Valuation
Stock valuation occupies a crucial place throughout the tasks outlined in a price accountant job abstract. Its correct execution straight impacts a companys monetary reporting, tax liabilities, and total profitability. Consequently, the emphasis positioned on stock valuation strategies inside a job abstract displays the extent of experience sought by the group.
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Price Movement Assumptions
The choice and utility of acceptable price move assumptions, resembling FIFO (First-In, First-Out), LIFO (Final-In, First-Out), or weighted-average, represent a basic facet of stock valuation. A price accountant job abstract might specify a choice for expertise with specific strategies primarily based on the {industry} or the corporate’s inside accounting insurance policies. For instance, a producing agency coping with perishable items would possibly necessitate proficiency in FIFO to make sure the oldest stock is expensed first. The chosen methodology straight influences the reported price of products offered and, subsequently, internet earnings. Subsequently, the job abstract ought to replicate the group’s expectations concerning price move assumption experience.
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Decrease of Price or Market (LCM)
The precept of valuing stock on the decrease of its historic price or its present market worth is an important component of conservative accounting. A job abstract usually consists of the expectation that the price accountant will commonly assess stock for obsolescence, harm, or market value declines, adjusting its worth accordingly. Failure to use LCM appropriately can result in an overstatement of property and an inaccurate reflection of economic well being. As an illustration, a know-how firm holding out of date digital elements should write down the stock to its internet realizable worth, impacting its profitability. Competency in making use of LCM is, due to this fact, regularly a key requirement detailed within the job abstract.
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Stock Obsolescence Evaluation
A proactive method to figuring out and accounting for out of date or slow-moving stock is crucial for efficient stock administration. The price accountant job abstract might require the incumbent to carry out common obsolescence evaluation, using instruments resembling stock ageing reviews and gross sales forecasts. This evaluation helps decide the suitable stage of stock reserves wanted to cowl potential losses from out of date stock. Take into account a style retailer that should determine and write down seasonal objects on the finish of every season. The power to precisely assess obsolescence and modify stock valuations accordingly is an important facet of the position.
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Commonplace Costing Techniques
In manufacturing environments, normal costing methods are sometimes employed to simplify stock valuation. The price accountant job abstract might necessitate experience in creating and sustaining normal prices for uncooked supplies, work-in-process, and completed items. These normal prices function benchmarks for evaluating precise prices and figuring out variances. As an illustration, if the precise price of uncooked supplies exceeds the usual price, the price accountant investigates the trigger and recommends corrective actions. Proficiency in managing and analyzing normal price variances is, due to this fact, a standard requirement outlined within the job abstract.
The sides mentioned above illustrate the multifaceted nature of stock valuation and its direct relevance to the price accountant’s tasks. A well-crafted job abstract precisely displays the significance of those strategies, guaranteeing that potential candidates possess the required abilities and data to successfully handle stock valuation processes throughout the group. The interaction between stock valuation and the broader monetary reporting framework underscores its crucial position in sustaining correct and dependable monetary data.
7. Ability Set
The delineation of a exact talent set inside a price accountant job abstract straight influences the standard and suitability of candidate functions. A comprehensively outlined talent set serves as a filter, attracting people possessing the requisite capabilities for efficient efficiency. The omission or vagueness of this part may end up in the submission of functions from unqualified people, prolonging the hiring course of and doubtlessly resulting in suboptimal hiring selections. For instance, if a job requires proficiency in superior information evaluation strategies, resembling regression evaluation for price forecasting, explicitly stating this requirement within the job abstract ensures that candidates possess the required analytical aptitude. This readability reduces the chance of hiring a candidate missing the capability to carry out important job features.
The impression of a well-defined talent set extends past the preliminary hiring part. It additionally facilitates efficient efficiency administration {and professional} improvement. When the talents required for the position are clearly articulated, efficiency evaluations might be objectively primarily based on demonstrated competency. Furthermore, the recognized talent gaps can inform focused coaching applications, enabling staff to reinforce their experience and contribute extra successfully to the group. Take into account a state of affairs the place the job abstract specifies the necessity for proficiency in Enterprise Useful resource Planning (ERP) methods. If a newly employed price accountant lacks this talent, the group can present acceptable coaching, bridging the hole and guaranteeing the person can successfully make the most of the ERP system for price monitoring and reporting.
In abstract, the talent set part of a price accountant job abstract serves as a cornerstone for efficient recruitment, efficiency administration, {and professional} improvement. Its detailed and correct articulation ensures that the precise candidates are attracted, that efficiency is objectively evaluated, and that talent gaps are addressed by focused coaching. Whereas figuring out and assessing the required abilities might be difficult, a well-crafted job abstract that prioritizes this facet is crucial for optimizing the price accounting operate and contributing to total organizational success.
8. Expertise
Expertise constitutes a pivotal component throughout the framework of a price accountant job abstract. Its presence dictates the breadth and depth of tasks a person can successfully undertake, straight impacting the efficacy of price administration practices inside a corporation.
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Technical Proficiency Improvement
Years of sensible utility refine technical proficiency in areas resembling price variance evaluation, normal costing, and stock valuation. A job abstract emphasizing substantial expertise implies an expectation of superior technical abilities. For instance, a price accountant with 5 years of expertise is more likely to possess a deeper understanding of price accounting rules and be more proficient at figuring out and resolving advanced cost-related points than somebody with just one 12 months of expertise. This proficiency interprets to extra correct and insightful price reporting, enhancing decision-making capabilities.
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Trade-Particular Information
Expertise inside a selected {industry}, resembling manufacturing or healthcare, offers invaluable insights into the distinctive price drivers and regulatory necessities particular to that sector. A job abstract specifying {industry} expertise underscores the necessity for familiarity with industry-specific price accounting practices. Take into account a price accountant making use of for a job within the pharmaceutical {industry}; prior expertise on this sector can be helpful as a result of stringent regulatory compliance necessities and sophisticated provide chain administration concerned. This data allows simpler price management and compliance administration.
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Drawback-Fixing Capabilities
Publicity to various price accounting challenges all through a profession cultivates enhanced problem-solving capabilities. A job abstract reflecting a choice for candidates with intensive expertise alerts an expectation of adeptness at resolving advanced monetary points. As an illustration, a price accountant with a observe file of efficiently implementing price discount initiatives is extra more likely to possess the analytical and problem-solving abilities essential to determine and tackle inefficiencies inside a corporation. This potential to proactively determine and resolve cost-related issues is essential for sustaining monetary stability and enhancing profitability.
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Software program and Techniques Experience
Expertise with numerous accounting software program and Enterprise Useful resource Planning (ERP) methods contributes to enhanced effectivity and accuracy in price accounting processes. A job abstract that highlights the necessity for expertise with particular software program, resembling SAP or Oracle, signifies the significance of technological proficiency. A price accountant who has labored with these methods for a number of years is more likely to be more adept at using their options for price monitoring, reporting, and evaluation. This experience interprets to quicker and extra correct information processing, liberating up time for extra strategic duties.
In conclusion, expertise features as a crucial determinant of a price accountant’s capabilities. A job abstract that precisely displays the specified stage of expertise, together with the particular forms of expertise sought, enhances the chance of attracting certified candidates and guaranteeing the efficient execution of price administration features throughout the group. The alignment between expertise necessities and the precise {qualifications} of employed personnel is paramount for reaching optimum monetary efficiency.
9. Accuracy
The price accountant job abstract necessitates an specific emphasis on accuracy, because the position basically depends on the meticulous recording, evaluation, and reporting of economic information. This requirement extends past mere information entry; it calls for a complete understanding of accounting rules and the potential impression of inaccuracies on monetary statements and enterprise selections. Inaccurate price accounting straight results in flawed product costing, incorrect stock valuation, and distorted profitability analyses, impacting pricing methods and useful resource allocation. The failure to make sure accuracy in monetary reporting may end up in non-compliance with regulatory necessities and potential authorized repercussions. Take into account a producing firm the place inaccurate labor price allocation results in an underestimation of manufacturing prices for a selected product line; this might lead to pricing that fails to cowl precise bills, finally resulting in monetary losses.
The pursuit of accuracy requires the implementation of strong inside controls and validation processes. These might embrace common audits of price accounting information, segregation of duties to forestall errors or fraud, and the utilization of automated methods to attenuate handbook information entry. Moreover, steady skilled improvement is crucial to make sure that price accountants stay present on evolving accounting requirements and greatest practices. For instance, the implementation of a brand new accounting normal associated to income recognition might considerably impression price allocation strategies. Failure to precisely interpret and apply this normal would compromise the integrity of economic reporting. Inside coaching applications and exterior certifications, resembling Licensed Administration Accountant (CMA), contribute to enhancing the skillset required for reaching accuracy in price accounting.
In abstract, accuracy shouldn’t be merely a fascinating attribute in a price accountant; it’s a non-negotiable crucial. The position’s tasks inherently demand meticulous consideration to element and a dedication to upholding the integrity of economic information. A well-crafted job abstract explicitly emphasizes the significance of accuracy, attracting candidates who possess the requisite abilities, expertise, and moral rules to make sure dependable and clear monetary reporting. Whereas challenges might come up in sustaining accuracy attributable to advanced accounting rules and evolving enterprise environments, a proactive method to error prevention and steady enchancment is crucial for upholding the integrity of the price accounting operate and supporting sound enterprise selections.
Steadily Requested Questions Concerning Price Accountant Job Summaries
The next questions tackle frequent inquiries concerning the aim, content material, and implications of the documentation outlining the position of a price accountant.
Query 1: Why is a complete overview detailing the price accountant place vital?
An in depth overview establishes clear expectations for each potential candidates and current staff, guaranteeing a shared understanding of tasks and required {qualifications}. This promotes efficient recruitment and efficiency administration.
Query 2: What core parts should a price accountant documentation embrace?
Important elements embody tasks, {qualifications}, and key practical areas resembling price evaluation, budgeting, reporting, and stock valuation. The talent set and expertise required to execute these features successfully must also be specified.
Query 3: How does an correct delineation of tasks impression hiring selections?
A transparent definition of duties allows a extra focused applicant pool, attracting candidates who possess the particular abilities and expertise vital for the position. This improves the chance of a profitable rent and reduces coaching prices.
Query 4: What position do {qualifications} play within the choice of a price accountant?
Specified {qualifications}, together with academic attainment, certifications, and software program proficiency, function a filter, guaranteeing that candidates possess the foundational data and technical abilities required for efficient efficiency. Failure to precisely outline {qualifications} can result in a misalignment between worker capabilities and job calls for.
Query 5: How does the emphasis on abilities contribute to skilled improvement?
The recognized talent set facilitates focused coaching applications, enabling price accountants to reinforce their experience and contribute extra successfully to the group. It additionally offers a benchmark for efficiency evaluations.
Query 6: What are the potential penalties of an inadequate concentrate on accuracy inside the price accountant position?
Inadequate emphasis on accuracy can result in flawed product costing, incorrect stock valuation, and distorted profitability analyses. This impacts pricing methods, useful resource allocation, and regulatory compliance, doubtlessly leading to monetary losses and authorized repercussions.
In abstract, a well-constructed doc for a price accountant serves as a cornerstone for efficient recruitment, efficiency administration, and monetary management. Its accuracy and comprehensiveness are paramount for optimizing the price accounting operate and contributing to total organizational success.
Subsequent sections will discover the long run developments and technological developments impacting the position of the price accountant and the implications for the job abstract.
Crafting an Efficient Price Accountant Job Abstract
The next suggestions goal to reinforce the readability, accuracy, and relevance of the doc used to explain the price accountant position. Adherence to those strategies promotes efficient recruitment and ensures a transparent understanding of expectations.
Tip 1: Prioritize Readability and Conciseness. Keep away from ambiguous language and {industry} jargon that is probably not readily understood by all candidates. The doc needs to be simply understandable and concentrate on important data.
Tip 2: Specify Required Technical Expertise. Record particular accounting software program, ERP methods, and information evaluation instruments with which candidates needs to be proficient. Examples embrace SAP, Oracle, Excel, and SQL. Offering particular software program names will help within the identification of certified candidates in the course of the screening part.
Tip 3: Delineate Trade-Particular Expertise. If expertise inside a selected {industry} is most popular or required, clearly state this choice and specify the related {industry} sectors, resembling manufacturing, healthcare, or finance. Familiarity with industry-specific rules and accounting practices is essential.
Tip 4: Element Key Duties Quantitatively. Use quantifiable metrics for instance the scope and impression of key tasks, resembling managing budgets exceeding a specific amount or overseeing stock valuation for a selected quantity of products. This offers a clearer understanding of the position’s impression.
Tip 5: Emphasize Accuracy and Inside Controls. Spotlight the significance of accuracy in all features of price accounting and the necessity to adhere to established inside controls. Embrace examples of particular management procedures the price accountant can be chargeable for implementing and monitoring.
Tip 6: Define Reporting Necessities. Clearly specify the forms of reviews the price accountant can be chargeable for making ready, the frequency of those reviews, and the meant recipients. This offers readability concerning communication expectations.
Tip 7: Align with Organizational Technique. Make sure the abstract displays the group’s strategic objectives and aims. Emphasize the price accountant’s position in supporting these objectives by price evaluation, budgeting, and monetary reporting.
Adherence to those tips will lead to a simpler and informative doc, selling improved recruitment outcomes and a clearer understanding of expectations for each candidates and current staff.
The following stage includes exploring how evolving technological developments and {industry} developments are more likely to affect the position and its description sooner or later.
Price Accountant Job Abstract
This exploration has demonstrated the multifaceted nature of the documentation outlining the price accountant’s position. The important features embody tasks, {qualifications}, price evaluation, budgeting, reporting, stock valuation, required talent units, related expertise, and a steadfast dedication to accuracy. A complete and meticulously crafted abstract serves as a cornerstone for efficient recruitment, efficiency administration, and, finally, the environment friendly administration of a corporation’s monetary sources.
The continual evolution of accounting practices and applied sciences necessitates a proactive method to reviewing and updating this documentation. Failure to take action dangers attracting unqualified candidates and misaligning expectations, doubtlessly undermining the integrity of economic reporting and strategic decision-making. Organizations are inspired to prioritize the creation and upkeep of correct and informative documentation to make sure the continued success of their price accounting features and the achievement of long-term monetary objectives.
