Myhomeworkhelp.com Clarifies Concept of Customers in Cost Accounting
Customer accounting is a unique concept used in finance and especially in cost accounts. Students find it difficult to differentiate the concept from that of an ordinary accounting concept. Myhomeworkhelp.com has brought forward an assistance related to customers assignment help.
Considering periodic accounting and recasting them into numbers for marketing is what customer accounting is all about. However, not much research is accomplished in reference to the said topic.
In absence of an empirical evidence based theory, we find customer accounting standing on 5 constructs.
- Customer profitability analysis to trace back whether the profit is directly affecting the customer
- Customer segment profitability analysis to understand if the segment where the customer belongs gets profitable or not
- Lifetime customer profitability analysis to forecast a lifetime profitability of the customer
- Valuation of customer group as assets thus including customer relationship in the balance sheet on the asset side
- The holistic notion encompassing all the above points for customer accounting
Customers homework help takes into cognizance the below contingency factors
- Market orientation
- Intensity of competition
- Market orientation depends on customer focus, customer orientation, and inter-function coordination.
Customers assignment help enables finance students to learn the topic of cost accounting with a strong focus on customer centric approach.
Sales by customer volume
- Decompose the financial quarter based on good, better, best customer volume components
- Introduce the idea of risk in treating all customers in the same way and back up your logic with evidence based on data of a period
- Collect customer revenue transactions for the period and plot them into total sales by customer in the said period
- Choose total sales range in your business
- Produce a chart on percentage of customers with sales in each range for the chosen time frame
- This will help companies evaluate customers based on their contribution
- Thus you can establish an efficient CRM program
Customers homework help is not limited to sales by customer volume but does recognize sales by customer longevity
Sales by customer longevity
- This goes on to demonstrate customer life cycle
- Underlying customer issue is more dynamic when you consider customer life cycle than the regular metrics to determine your financial budgets
- It deals with profitability in both current as well as future period
- Collect customer revenue transactions for a given period and recast the data relative to the start date of the customer purchase
- Compare the contribution of new customers with that of the seasoned ones
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