Contra Costa County, California Wikipedia

In this way the central county region has become a mix of older suburbs, newer developments, small lot “infill” developments, and extensive shopping areas. Contra Costa County was one of the original 27 counties of California, created in 1850 at the time of statehood. The county https://www.bookstime.com/ was originally to be called Mt. Diablo County, but the name was changed prior to incorporation as a county. The county’s Spanish language name means opposite coast, because of its location opposite San Francisco, in an easterly direction, on San Francisco Bay.

Cost Accounting: Definition and Types With Examples

Cost accounting is distinct and separate from general financial accounting, which is regulated by the Securities and Exchange Commission and the Financial Industry Regulatory Authority and is critical for creating financial statements. A direct cost is a cost directly tied to a product’s production and typically includes direct materials, labor, and distribution costs. Inventory, raw materials, and employee wages for factory workers are all examples of direct costs. Companies looking to expand their product line need to understand their cost structure. Cost accounting helps management plan for future capital expenditures, which are large plant and equipment purchases. For example, suppose there is a company that produces both trinkets and widgets.

Parks and recreation

Cost accounting can help with internal costs, such as transfer prices for companies that transfer goods and services between divisions and subsidiaries. For example, a parent company overseas might be the supplier for its U.S. subsidiary, meaning the U.S. company would be charged by the parent for any purchases of materials. Modern methods of cost https://www.instagram.com/bookstime_inc accounting first emerged in the manufacturing industries, though its advantages helped it spread quickly to other sectors. Cost accounting is a managerial accounting process that involves recording, analyzing, and reporting a company’s costs. Cost accounting is an internal process used only by a company to identify ways to reduce spending. The goal of lean accounting is to improve financial management practices within an organization.

• Latinos, representing people of Spanish, Portuguese, indigenous and mestizo populations of the Western hemisphere, comprised 21.1% of the county population.
• For example, an increase in the form of a credit to allowance for doubtful accounts is also recorded as a debit to increase bad debt expense.
• The county’s Spanish language name means opposite coast, because of its location opposite San Francisco, in an easterly direction, on San Francisco Bay.
• CCAR’s innovative MLS is the engine behind the local residential real estate market and provides REALTORS® and their clients with access to thousands of properties both within and well beyond the East Bay Area.
• The effects of the housing value crash (2008–2011) varied widely throughout the county.

Heavy industry

Although there were no missions established within this county, Spanish influence here was direct and extensive, through the establishment of land grants from the King of Spain to favored settlers. Assessing the difference between the standard—most efficient—cost and the actual cost incurred is called variance analysis. If the variance analysis determines that actual costs are higher than expected, the variance is unfavorable. If it determines the actual costs are lower than expected, the variance is favorable.

Cost accounting can be beneficial as a tool to help management with budgeting. It can also be used to set up cost-control programs, with the goal of improving net margins for the company in the future. The allowance method of accounting allows a company to estimate what amount is reasonable to book into the contra account. The percentage of sales method assumes that the company cannot collect payment for a fixed contra cost percentage of goods or services that it has sold. Inscrutable Corporation offers long-term disability insurance to its employees under an arrangement in which it pays for the insurance, and then participating employees reimburse it for half of this cost. In the first month of the arrangement, the company pays the insurer $10,000, which Inscrutable records in a long-term disability insurance expense account.

• For example, raw material costs and inventory prices are shared between both accounting methods.
• Early European settlers in the region, however, did not record much about the culture of the natives.
• The known settled populations were hunter-gatherer societies that had no knowledge of metals and that produced utilitarian crafts for everyday use (especially woven reed baskets) of the highest quality and with graphic embellishments of great aesthetic appeal.
• However, certain cost categories will typically be included (some of which may overlap), such as direct costs, indirect costs, variable costs, fixed costs, and operating costs.
• Cost accounting, because it is used as an internal tool by management, does not have to meet the standards set forth by generally accepted accounting principles (GAAP) and, as a result, varies in use from company to company.

Indirect Costs

The earliest definitively established occupation by modern man (Homo sapiens) appears to have occurred six to ten thousand years ago. However, there may have been human presence far earlier, at least as far as non–settling populations are concerned. The known settled populations were hunter-gatherer societies that had no knowledge of metals and that produced utilitarian crafts for everyday use (especially woven reed baskets) of the highest quality and with graphic embellishments of great aesthetic appeal.

Preparing Financial Statements

• Whereas assets normally have positive debit balances, contra assets, though still reported along with other assets, have an opposite type of natural balance.
• The grantee’s family names live on in a few city and town names such as Martinez, Pacheco and Moraga and in the names of streets, residential subdivisions, and business parks.
• A company that produces cars might have the steel involved in production as a variable cost.
• The key example of a contra equity account is Treasury stock, which represents the amount paid to buyback stock.
• If the variance analysis determines that actual costs are higher than expected, the variance is unfavorable.

Under ABC, an activity analysis is performed where appropriate measures are identified as the true cost drivers. As a result, ABC cost accounting tends to be much more accurate and helpful when reviewing the cost and profitability of a company’s specific services or products. Activity-based costing (ABC) identifies overhead costs from each department and assigns them to specific cost objects, such as goods or services.

The major central county cities along Interstate 680 are Martinez, Concord, Pleasant Hill, Walnut Creek, Danville, San Ramon, and unincorporated Alamo. Owing to the high quality of its public schools (due largely to both demographics and added support from prosperous parents), this area has become a magnet for well–off families with children. During the real estate boom, housing prices were driven to astounding levels. From 2007, home prices in the region have seen substantial decreases and the affordability rate has risen.