Gil Lyka D.

Taghoy BSHM-2 HPC41

ASSIGNMENT:
1. How should a company and its management deal with the potential for local or national
natural disasters?
 A natural disaster is a major adverse event resulting from natural processes of the
Earth like floods, hurricanes, tornadoes, volcanic eruptions, earthquakes,
tsunamis, and other geologic processes. Natural or operational disasters can have
serious negative effects for many businesses. Operational disasters occur when
companies lose a significant manager or director, business contracts are broken or
business environments become severely unfavorable for operating a business.
Large and small businesses often handle the effects of disasters differently. Larger
businesses might handle disasters better, since they have more available resources
for restoring operations.
Here are some ways how to deal with local or national natural disasters. First is
the company should make the priorities known, The only thing more demoralizing
for employees who are going through a situation of disastrous proportions is
feeling as if they’re means to an end. Servers, process documents and computers
can all be replaced; people can’t be. Make it clear that their safety is the most
important thing. The other deal is plan ahead to stay open, the company should
make a disaster plan to prepare and aware them from upcoming natural disasters.
The other one is look what our location provides, our local and national had
disaster recovery funds, and employees who didn’t get paid could apply for
unemployment during that time. Knowing what state benefits are available can be
life-saving for both your business and your employees. And lastly, do what the
company help, every company has a corporate social responsibility that means
they help the people who are in needs.

2. Discuss the cost standard system that you are familiar with the results that are obtained.
 In accounting, a standard costing system is a tool for planning budgets, managing
and controlling costs, and evaluating cost management performance. A
standard costing system involves estimating the required costs of a production
process. But before the start of the accounting period, determine the standards and
set regarding the amount and cost of direct materials required for
the production process and the amount and pay rate of direct labor required for
the production process. In addition, these standards are used to plan a budget for
the production process. At the end of the accounting period, use the actual
amounts and costs of direct material. Then utilize the actual amounts and pay
rates of direct labor to compare it to the previously set standards. When you
compare the actual costs to the standard costs and examine the variances between
them, it allows managers to look for ways to improve cost control,
cost management, and operational efficiency.