The hygienic regulations impose that raw materials must be stored in a separate cold store from the end products. Also, different production operations (gutting, filleting, salting, smoking) must be performed in separate rooms. They do not like paperwork, and therefore many traders leave all the firms paperwork to separate consulting accounting firms. They might even think that a cost accounting system gives misleading figures because of their rapidly varying production processes. The same staffs works with almost all products and activities from production processes to marketing. The owners and management also participate in the production. They have a better practical knowledge of the operating costs than the management in bigger and more centrally controlled companies. The management at two Baltic herring filleting firms and three full-scale processors were interviewed to find out about their cost accounting systems. The most typical accounting system for a fish trader is somewhere inside his or her head, and there may be several reasons for this. The operations in fish processing are very flexible and batch sizes are small. The batch sizes vary greatly, depending on the supply of fish.

The allocation method overcasts rainbow trout products, because rainbow trout is an expensive fish, the batch sizes are large, and the purchasing and selling costs are low. The Finnish fish catches are substantially smaller than the catches in most of the other countries in Europe. However, the flesh loss ratios for different fish species and size classes were taken into account in the existing cost system. The income statement shows the net income or net loss earned by the business or incurred by an enterprise during a particular accounting period. In addition, small firms cannot afford to invest in a cost accounting system or employ a clerk. The motivations behind entrepreneurship in small firms vary. Twenty-seven percent of the firms that buy their raw material from fishermen used computers for invoicing or accounting purposes in 1994. Another 23 planned to change over to a computerized system. The filleting firms did not have any cost accounting system in use, because they felt that it would not be very reliable in their business environment.

An owner of a large Baltic herring filleting firm described the dynamics of the environment in the following way a cost system appropriate in the morning could be obsolete in the evening. However, fish processing has become a more and more professionally managed business due to the changes in the business environment and the new and more educated generation of fish traders. The educational level of old fish traders is low and they do not master new technologies and complicated cost systems therefore they have no interest in them. The raw material prices are lower or at the same level in Finland than in competing countries, but the prices for the end products are significantly lower. Imagine if you are GST certified, you can proudly demand an average of 15-20% hike in your salary. The raw material (whole or gutted fish) is often handled or processed after supply volumes, customer demand and staffs is available. Most of the fish traders are oriented to practical work. End products are stored in a cold store or preserved in a freezing plant.

A stock take can help provide us with information about the stock movements during the year and the stock on hand at the end of an accounting period. Another thing that you will need to do before hiring an accounting firm in Sacramento is to ask the prospective candidates a lot of questions and then listen closely to how they answer those questions. 29/user/month. Our Sage cloud accounting will give you anywhere and anytime access. They may be doubtful whether a cost accounting system would be a reasonable investment. If you are planning to make an investment in Mohali harjirealtors Real Estate Agents Mohali can help you to do so easily. The working routines, especially in manually operating firms, are very flexible and diversified due to unpredictable purchase volumes of different fish species. A cost accounting system in a Finnish fish processing firm is quite a new phenomenon. Under federal law, whether any company is either beneficial or not, it must complete its accounting.