Study Material INTEGRATED PROFESSIONAL COMPETENCE COURSE Cost Accounting and Financial Management Part 1 : Cost Accounting Vol. I The Institute of Chartered Accountants of India (Set up by an Act of Parliament) New Delhi PAPER 3 COST ACCOUNTING AND FINANCIAL MANAGEMENT Part – 1 : Cost Accounting VOLUME – I BOARD OF STUDIES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA This study material has been prepared by the faculty of the Board of Studies. The objective of the
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Kyle Maynard is a former high school wrestler from Georgia. Kyle struggled early in his career‚ his first season failing to even win a single match. By the time that Kyle graduated from high school he was a dominant force in the 103 pound weight division. The reason that Kyle’s story is so interesting is that he was born with deformed arms and legs. His arms ending in nubs just above the elbow‚ and his legs ending with deformed feet above a non-existent knee. Kyle has had to overcome adversity
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ISSUES IN ACCOUNTING EDUCATION Vol. 18‚ No. 2 May 2003 pp. 137ñ173 The Tallahassee BeanCounters: A Problem-Based Learning Case in Forensic Auditing Cindy Durtschi ABSTRACT: You are auditing the books of the Tallahassee BeanCounters (TBC)‚ a minor league baseball team in Tallahassee‚ Florida. During your audit the teamís owner‚ Franklin Kennedy‚ approaches you and offers an additional fee if you will quietly investigate the possibility of fraud within the firm. Mr. Kennedy reports that he received
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COST ACCOUNTING-MMS FORMAT OF COST SHEET Opening stock of Raw Material XX Add: Raw material purchased XX Less: Closing Stock of Raw Material XX Raw Material Consumed ZZ Direct Labor XX Direct Expenses. XX PRIME COST ZZ Add: Factory Overheads: Indirect Material XX Indirect Labor XX Indirect Expenses XX GROSS WORKS COST/FACTORY COST ZZ Add: Opening WIP XX Less: Closing WIP XX COST OF GOODS MANUFACTURED
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Caso B: …Alvalade XXI… 70651 – Rute Lemos 1. Análise conceptual / Conceptual analysis The concepts marked by red are concepts from the book. 2. O problema / The problem In terms of organizational problems‚ Casa XXI needed to improve its organizational performance and change its business model by reducing the need for controlling cash registers and bartenders‚ and the use of cash affected the time it took to execute payment transactions. They also wanted to have more sales at peak
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Question A (2) Give a representation of the budgeted profit-and-loss account according to the direct costing model. (variable cost price calculation). Question B (3) Give a representation of the budgeted profit-and-loss account according to the absorption costing model. Question C (1) Does the profit according to question A differ from question B? Argue your answer! Question D (2) Calculate the safety margin (as a percentage) according to the budget. Question E (3) Calculate the operating leverage
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croissants | X | | | X | | 4. | Bakery manager’s salary | | X | | | X | 5. | Wages of bakers | X | | | X | | 6. | Amortization of commercial ovens used in baking | | X | | | X | 7. | Insurance on building | | X | | | X | Problem 2-3 (CC 1‚ 2‚ 3‚ 4‚ 7‚ 9) (60 minutes) 1. | Cost Behaviour | Selling or Administrative | Product Cost | Cost Item | Variable | Fixed | Cost | Direct | Indirect | Factory labour‚ direct | $118‚000 | | | $118‚000 | | Advertising |
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CHEMALITE‚ INC. (B) Cash Flow Analysis 1991 1992 Mangesh Pansare‚ Rajesh Chavan‚ Shekhar Tewari‚ Vinay Thakker‚ Ranjan Prakash‚ Prajay Kumar Group 2 Executive Summary Bennett Alexander founded Chemalite‚ Inc. in the late 1990. The first year of operations has been very successful. In a meeting held in January 1992‚ the shareholders of the company approved moving the production facility to a larger location to support expanding sales. The shareholder meeting ended with a decision to meet
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the discount on December 31‚ 2010. (3) The payment of interest and the amortization of the discount on July 1‚ 2011‚ assuming no accrual of interest on June 30. (4) The accrual of interest and the amortization of the discount on December 31‚ 2011. (b) Show the proper balance sheet presentation for the liability for bonds payable on the December 31‚ 2011‚ balance sheet. (c) Provide the answers to the following questions in letter form. (1) What amount of interest expense is reported for 2011? (2)
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in parallel with the company’s activities we can also assume that company sales increased. Company is not in trouble with receivables. ANSWER 3: Retained Earnings didn’t increase by the amount of net income for the month because‚ Diane Maynard got a dividend of 11.700 USD which she then used to repay her loan. Thus Retained Earnings just got increased by 7‚935 USD (=19‚635-11‚700). ANSWER 4: Shareholder’s Equity does not necessarily equals to the worth of entity. If we assume that
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