Dr. Sunny Sun‚ Poly U.‚ Only for use in AF2108 Financial Accounting‚ Second Semester 2010/2011. AMY LAU JUN HAN HAIER: MANAGEMENT CONTROL ON A TACTICAL LEVEL The Haier Group started out as a refrigerator manufacturer in China in 1984 with imported refrigerator production technology from the German Liberhaier company. In the following two decades‚ Haier grew to become one of the world’s leading white goods home appliance manufacturers and was constantly regarded as an aspiring‚ fast growth
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FINANCIAL MANAGEMENT – AN OVERVIEW Unit structure: 1. Introduction 2. Learning objectives 3. Section title Meaning Definition Objective Advantages of wealth maximization Criticisms of wealth maximization Scope & Functions of Financial Management Role and function of the finance manager Financial Management and Economic Financial management and Accounting Evolution of financial management Functional areas of financial management Financial decisions Have you understood questions
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Multiple Choice: 1. In general terms‚ financial assets appear in the balance sheet at: a. Face value b. Current value c. Cost d. Estimated future sales value 2. Which of the following practices contributes to efficient cash management? a. Never borrow money – maintain a cash balance sufficient to make all necessary payments. b. Record all cash receipts and cash payments at the end of the month when reconciling the bank statements
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Financial management study material (Reference: Financial management by S.N.Maheshwari‚ Financial management by I.M. Pandey ‚ Financial management by Prassana Chandra & Anna university study material) Unit – I FOUNDATIONS OF FINANCE Financial management: An Overview Time value of money introduction to the concept of risk and return of a single asset and of a portfolio‚ valuation of bounds and shares – option valuation OBJECTIVES AND FUNCTIONS OF FINANCIAL MANAGEMENT Maximization of the
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The Financial Accounting Standards Board employs a "due process" system which (Points: 5) has all CPAs in the United States vote on a new Statement. enables interested parties to express their views on issues under consideration. identifies the accounting issues that are the most important. requires that all accountants receive a copy of financial standards. 2. (TCO A) The IASB: (Points: 5) governs accounting standards in the U.S. is working on a convergence project with the FASB. sets the
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functions of the management accountant and an important thrust of this book. The use of accounting information for decision making has been a consistent theme in earlier chapters. In this chapter‚ we focus on specific and common decisions such as accepting or rejecting a one-time-only special order‚ insourcing or outsourcing products or services‚ and replacing or keeping equipment. We place special stress on the importance of distinguishing between relevant and irrelevant financial information
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assets B. Subsidiary C. Service departments D. Exclusive cash generating unit 7. Assume that employees confessed to a P500‚000 inventory theft but are not able to make restitution. How should this material fraud be shown in the company’s financial statements? A. Classified as loss and shown as a separate line item in the statement of comprehensive income. B. Initially classified as an account receivable because the employees are responsible for the goods. Because they cannot pay‚ the loss
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198 Accounting Standard (AS) 14 (issued 1994) Accounting for Amalgamations Contents INTRODUCTION Definitions EXPLANATION Types of Amalgamations Methods of Accounting for Amalgamations The Pooling of Interests Method The Purchase Method Consideration Treatment of Reserves on Amalgamation Treatment of Goodwill Arising on Amalgamation Balance of Profit and Loss Account Treatment of Reserves Specified in A Scheme of Amalgamation Disclosure Amalgamation after the Balance Sheet Date ACCOUNTING STANDARD
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01 MCQ FOR IMT 57 – FINANCIAL ACCOUNTING Test : (Journal‚ Ledger‚ Trial Balance‚ Errors) Name: _________________ Fundamentals of Accounting Max. Marks: 30 1. RPC Ltd. follows the written down value method of depreciating machinery year after year by applying the principle of (a) Comparability. (b) Convenience. (c) Consistency. (d) All of the above. 2. A change in accounting policy is justified
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undertake all the sufficient provision for capital budgeting. Introduction Finance department plays a dominant role as far as the productivity of an organization is concerned (Andrew‚ 2001). Inevitably‚ the definition is not yet derived. According to management officials‚ organization is basically a place that surrounds with different departments in total and every department is intending to give its cent percent effort for the productivity of the company as a whole (Ackerman‚ 2002). Likewise other departments
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