Horngren‚ C.T.‚ Datar‚ S.M. and Foster‚ G. (2003) Cost Accounting - A Managerial Emphasis‚ Pearson Education‚ Inc.‚ New Jersey‚ Eleventh Edition CHAPTER 11 DECISION MAKING AND RELEVANT INFORMATION 11-1 The five steps in the decision process outlined in Exhibit 11-1 of the text are: 1. 2. 3. 4. 5. Obtain information Make predictions about future costs Choose an alternative Implement the decision Evaluate performance to provide feedback 11-2 Relevant costs are expected future costs that differ
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Chapter Outline Chapter 2 I. Developmental theories and the issues they raise A. The Importance of Theories 1. Guides the collection of new information a. what is most important to study b. what can be hypothesized or predicted c. how it should be studied B. Qualities of a Good Theory 1. Internally consistent-- its different parts are not contradictory 2. Falsifiable-- generates testable hypotheses 3. Supported by data-- describes‚ predicts‚ and explains human development C. Four Major
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$50 of merchandise due to a defect. Assuming that the purchase was originally bought on credit‚ demonstrate the required journal entry. -Account Payable DR: 50 -Merchandise inventory CR: 50 On June 5‚ X-mart purchased $400 of merchandise with terms of 2/10‚ n/30. If payment is made on June 11‚ calculate the purchase discount that may be taken by X-mart. 400*.02=$8 FOB destination: The seller is responsible for the shipping costs of merchandise sold. Sales Discounts:
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chapter 1 INTRODUCTION TO FINANCIAL STATEMENTS ● the navigator ● ● ● ● ✓ Scan Study Objectives Read Feature Story Scan Preview Read Text and Answer Do it! p. 5 p. 11 p. 18 p. 20 Work Using the Decision Toolkit Review Summary of Study Objectives Work Comprehensive Do it! p. 23 Answer Self-Test Questions Complete Assignments Go to WileyPLUS for practice and tutorials Read A Look at IFRS p. 42 study objectives After studying this chapter‚ you should be able to: 1 Describe the primary
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14 Accounting publications and research in twentieth-century Japan1 14.1 Introduction Japan’s interest in modern accounting began in the late nineteenth century with Alexander Shand [1844–1930].2 The Japanese translation of Shand’s (1873) Bank bookkeeping proved to be so important that his system of bank accounting became legally obligatory for the newly established banking system of the Meiji era. In the same year‚ Fukuzawa (1873–74) published a Japanese translation of Bryant and Stratton’s (1871)
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The Accounting Process (Textbook Libby et al. Chapters 1 and 2). Objectives: When you have successfully completed this lesson‚ you will be able to... Define accounting and explain its purpose Define business and identify the different types of businesses Explain the accounting equation: Assets = Liabilities + Owner’s Equity Visualize the start of a business‚ create accounting transactions for it‚ and prepare simple financial statements Reading Assignment Please read chapters 1 and
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Production and Operations Analysis‚ Fourth Edition Solutions To Problems From Chapter 2 2.12 a) and b) Forecast (86 + 75)/2 (75 + 72)/2 etc = = 80.5 73.5 77.5 107.5 98.5 87.5 100.0 78.5 79.5 95.0 = = Period 3 4 5 6 7 8 9 10 11 12 21.6 717.5 Actual 72 83 132 65 110 90 67 92 98 73 et +8.5 -9.5 -54.5 42.5 -11.5 -2.5 +33.0 -13.5 -18.5 +22.0 c) MAD MSE = = (216)/10 (7175)/10 MAPE = 100 1 n ∑D i ei = 25.61 2.13 Fcst 1 Fcst 2 223 289 430 134 190 550 210 320 390 112 150 490 Demand
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CHAPTER 1 INTRODUCTION TO COST ACCOUNTING QUESTIONS 1. Management accounting stresses the informational needs of internal users over those of external users (the focus of financial accounting). Because of this perspective‚ management accounting provides information in a format that is flexible and relevant to a particular manager‟s usage. Financial accounting‚ on the other hand‚ must provide some uniformity in the manner in which information is presented for it to be comparable among companies and
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1 CHAPTER ONE: ACCOUNTING IN BUSINESS Chapter Outline I. Importance of Accounting—we live in the information age‚ where information‚ and its reliability‚ impacts the financial well-being of us all. A. Accounting Activities Accounting is an information and measurement system that identifies‚ records and communicates relevant‚ reliable‚ and comparable information about an organizations business activities. B. Users of Accounting Information 1. External Information Users—those not directly involved
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expected selling price. (iii) Dual Aspect The dual aspect concept can be defined as every transaction having a minimum of two entries into the accounting system. One represented by the assets of the enterprise and the other by the claims against it. Should there be a debit entry then there must be a credit entry as well. Due to this concept‚ the accounting equation ‘Asset = Equity + Liability’ is formed. Example: 1. Company ABC made payment of salary RM5000 by cheque to its staff. Using the dual
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