is provided for general guidance only and on the understanding that it does not represent‚ and is not intended to be‚ advice. Whilst care has been taken in its preparation‚ it should not be used as a substitute for consultation with professional accounting‚ tax‚ legal or other advisors. Before making any decision or taking any action‚ you should consult with an appropriate specialist or professional. No warranty is given to the correctness of the information contained in this document‚ or its suitability
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MINISTRY OF EDUCATION FIJI SCHOOL LEAVING CERTIFICATE EXAMINATION – 2005 EXAMINER’S REPORT ACCOUNTING 1.0 INTRODUCTION This year’s paper examined the very basics of accounting such as the work covered at the FJC and FSLC levels. Some 4‚400 candidates sat for the paper‚ showing varying range of abilities and skills towards problem solving. It was disappointing to note that candidates were not able to handle some very basic concepts and calculations. Computations of
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In 1973‚ the Financial Accounting Standards Board (FASB) was created and their mission is “to establish and improve standards of financial accounting and reporting for the guidance and education of the public‚ including issuers‚ auditors‚ and users of financial information.” (FASB.org‚ 2009a). The FASB is a private‚ not-for-profit organization whose primary purpose is to develop generally accepted accounting principles (GAAP) within the United States. The Securities and Exchange Commission (SEC)
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gooda available for sale. -the consistency principle states that the busineses should use the same accounting methods from period to period. -under the FIFO‚ the ending inventory is based on the cost of the most recent purchases. -the value of purchases remains the same irrespective of the inventory valuation method used. -using FIFO‚ the COGS is based on the oldest purchases. -the accounting conservatism principle requires that financial statements should report LEAST favorable figures. -do
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Cost Accounting -- MIDTERM 1 1) Pointed Pencil company incurs the following costs in its manufacture of pencils. Classify each one of them according to one of the value chain functions: Functions: A) Research and Development B) Design of products‚ services‚ and processes. C) Production D) Marketing E) Distribution F) Customer Service G) Strategy and Administration ____ 1) Cost of wood used in manufacture of pencils. ____ 2) Cost of wood used in packing cartons to ship pencils. ____
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Costs assigned to the building of a house should appear on the income statement when Answer a. the purchase order to manufacture the house is received. b. the house is sold. c. cash is collected for the sale of the house. d. the house is completed. The basic document for keeping track of costs in a job order costing system is a Answer a. labor time card. b. job order cost card. c. process cost report. d. materials requisition form. The following information is available at the
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BM6026 - Managerial Accounting & Finance Mini Assignment - Sem 1 2014/2015 Name : Suriati Binti Yusse Matric no : MB1412199T Class : Tuesday - 7.00PM - 10.00PM product selling price Variable Cost : Material : Extract of Tongkat Ali Other Ingredients Packing Material Overhead Cost : Drying cost of liquid Other Overhead Cost Labour Cost : Processing Packaging Total Variable Cost Unit Contribution Margin Expected volume sales % of total sales Weighted Contribution Q1 : capsule
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Financial Accounting Project 17th May 2012 American University Of Kuwait Omar S. Al yousif 13109 Contents Page. Executive Summary…………………………………………………………………………………………………………….Pg.3 Purpose and Research Method…………………………………………………………………………………………..Pg.4 All Year Ratios of three companies……………………………………………………………………………………..Pg.5 Coca Cola Ratios………………………………………………………………………………………………………………...Pg.8 Dr.Pepper Snapple Ratios…………………………………………………………………………………………………..Pg.8 Pepsi Ratios……………………………………………………………………………………………………………………
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information systems have bought significant changes in accounting profession‚ practices and processes. It has not only increased the efficiency and accuracy in accounting and has speed up the process for cumbersome and long accounting tasks‚ but also improved security of accounting data and increased transparency. Large organizations and multinationals are making increasing use of new information systems and technologies to carry out their accounting tasks on global basis. These information systems has
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return preparation‚ office computerization‚ new business start-up‚ general bookkeeping and tax preparation & planning. Job description During the intern period‚ I did four main tasks as follow 1. Bookkeeping The company uses the accounting software called Write up and Quick Book to do the book keeping. In order to do the book keeping we need to create a ledger for all the financial accounts and use the check and invoice provided by the customer to record all payments made from these
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