majority. Can he succeed? 8. What new provisions have been made for the protection of interests of debenture holders? 9. Write a short note on Consumer Protection Councils. 10. Describe the powers of SEBI relating to the working of the depository system. Corporate Finance Mgmt 1. What are the advantages and disadvantages of changing the company organization from a sole proprietorship to an LLC? 2. What are the advantages and disadvantages of changing the company organization from a sole proprietorship
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Define cost object and give three examples Cost object is defined as “Anything for which a separate measurement of cost is desired”. The term cost object and cost objective is synonymous. Cost object may refer to a process‚ a cost centre‚ and cost units. Cost unit is a quantitative unit of product or service in relation to which cost are ascertained. Cost centre is a location‚ function or item of equipment in respect of which cost are ascertained. 2. Define cost accumulation
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CHAPTER 6 Joint Product and By-Product Costing LEARNING OBJECTIVES After studying this chapter‚ you should be able to: 1. Identify the characteristics of the joint production process. 2. Allocate joint product costs according to the benefits-received approaches and the relative market value approaches. 3. Describe methods of accounting for by-products. 4. Explain why joint cost allocations may be misleading in management decision making. 5. Discuss why joint production is seldom found in
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Cost Accounting Cost accounting is a step further to and a refinement of financial accounting in which cost of manufacturing and selling each product or job or rendering service is determined‚ not at the time of accounting period but at the time when the product is manufactured or any service is rendered. In simple words‚ costing is a systematic procedure for determining the unit cost of output produced or services rendered. It provides for an analysis of the expenditure which enables the management to
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Cost Accounting Manual 2013 STUDY NOTES FOR COST ACCOUNTING BY ATAUSH SHAFI Last Updated on: Tuesday‚ January 01 01‚ 2013 1 © For Suggestions & Feedbacks‚ contact: ATAUSH SHAFI (ataushshafi@gmail.com) Cost Accounting Manual 2013 Table of Contents CIMA OFFICIAL TERMINOLOGY .................................................................................... 3 COST OF GOODS SOLD FORMULE................................................................................ 13 COST CLASSIFICATION ...
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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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MANAGERIAL AND COST ACCOUNTING LARRY M. WALTHER & CHRISTOPHER J. SKOUSEN DOWNLOAD FREE TEXT BOOKS AT BOOKBOON.COM Managerial and Cost Accounting © 2009 Larry M. Walther‚ under nonexclusive license to Christopher J. Skousen & Ventus Publishing ApS. All material in this publication is copyrighted‚ and the exclusive property of Larry M. Walther or his licensors (all rights reserved). ISBN 978-87-7681-491-5 Download free books at BookBooN.com 2 Managerial and Cost Accounting Contents
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summary of the contents of the document.] compaq [Type the company name] [Pick the date] Contents Concept of Cost Accounting……………………………………………………………………03 Introduction……………………………………………………………………………………..03 Traditional costing v/s activity based costing…………………………………………………..04 Need for an Activity Based Costing……………………………………………………………06 Stages in Activity Based Costing……………………………………………………………....08 Cost Drivers…………………………………………………………………………………….09 Classification of activities………………………………………………………………...……10 Steps
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LABOUR COST ACCOUNTING. It is concerned with identifying the amount of labour costs to be changed to jobs and overhead accounts. Where a manufacturing organization operates a job costing system‚ information on the labour costs should be properly captured from the following documents:- i) Job Cards: This is open for each job‚ when the job is started‚ the time of starting is entered on the job card and when it is completed‚ the completion time is also entered. The difference between the two
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not sure about the difference between cost accounting and a cost accounting system. Explain the difference to Joe. (b) What is an important feature of a cost accounting system? 2. (a) Distinguish between the two types of cost accounting systems. (b) May a company use both types of cost accounting systems? 3. What type of industry is likely to use a job order cost system? Give some examples. 4. What type of industry is likely to use a process cost system? Give some examples. 5. Your roommate
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