Due to a clerical error‚ a company overstated by $50‚000 the amount of inventory on hand at the end of the year. Will net income for the year be overstated or understated? Identify the two accounts on the year-end balance sheet that will be in error and indicate whether they will be understated or overstated. Error: The ending inventory is overstated by $50‚000. Effect on net income: When the ending inventory is overstated‚ then‚ the cost of goods sold expense will be understated as the ending inventory
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Questions: What are the environmental implications of oil spills? What legislative policies have been instituted to mitigate the possibility of future oil spills? How are oil spills cleaned up and what are the advantages and disadvantages of each method? What type of research and innovation surrounding oil spills has been done to prevent their occurrence? In order to foster an environment for emerging technologies and higher standards of living‚ the United States‚ Canada and many other nations
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The effect of change in organization culture in Dragon Oil v.1.1 (Final Draft) Executive Summary: The dissertation is meant to find a relation between organizational culture and the change in management by means using a valid subject as case study. The author utilized Dragon Oil as the case subject to understand how a relatively unknown oil drilling company has become the talk of the town after going through a change in management around 2008. The dissertation addresses a brief history of
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Is Standard Costing Still Relevant? Motivation The activity-based costing (ABC)‚ Just-in-Time (JIT)‚ the balanced scorecard‚ and target costing methods appeared and used wide‚ it leads to confusion about the sense of relevant of standard cost. Besides‚ standard costing and variance analysis had become disconnected from actual practices at the industry level. Research question In this case‚ author solved four questions: 1. Is standard costing used in Dubai? 2. How important are various functions
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2. Establishing a Selling Price for the product Based on the market research of a new product and also the market condition‚ the selling price is established. The desired profit margin is subtracted from the target selling price to determine the target cost. If the target cost is below the company’s current cost‚ the company may decide to introduce the product and functional cost analysis may attempt to reduce cost to an acceptable level. If the target cost is above the current cost‚ functional
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values‚ borne out of a long history. Food In China‚ food is an important part of life. The official Language of China is Mandarin. In the Chinese culture there are a vast of Morals and Values that range from humility to respect and are very important in the Chinese culture. There are two main religions in the Chinese culture. Taoism‚ also known as Daoism‚ is based on the teachings of the Tao Te Ching‚ which was written in China in the 6th century BC. The emphasis is on finding spiritual harmony within
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We Love Drone-Based Oil & Gas Inspection {And You Should‚ Too!} Drones equipped with a combination of sensors are revolutionizing the oil and gas inspections. At the moment‚ the drones with thermal imaging‚ photo‚ and video cameras as well as gas sniffers and other sensors are performing a variety of inspection roles. The mobility and sensors allow the drones to analyze the pipelines and other oil and gas facilities for existing and potential defects. A number of energy companies are already deploying
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chromatography and gas chromatography−mass spectrometry. For the past two decades such analytical techniques have been used to search for trace amounts of compounds known as biomarkers present in oils and source rock extracts which can be used to provide valuable information on the origin and history of the oil. In the past two or three years much more effort has been placed on the development and utilization of such techniques as an aid to solving reservoir and production problems. There are developments
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* Standard Costing Introduction Cost figures‚ in general‚ can be divided into two broad categories. They are Historical Costs and Standard Costs. Historical costs are available‚ after they are incurred. Such cost figures may have some value‚ once they are analysed. By analysis‚ the inefficiencies and deficiencies in production may be detected. However‚ the damage would have occurred‚ by the time the analysis under Historical costs is made. Analysis can be done only after the completion of the
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1. Gao su – to tell Guan yu – about Yi tian – one day Wan – finish‚ to complete‚ play Cong lai bu – never Man man – slowly Zhong can – chinese food Xi can – western food Dan shi – but Ming nian – next year Huo zhe – or Da xue – university Yi hou – after Jue ding – decide Ru guo – if Jia ren – family Zhuan ye – major (speciality) He .... yi yang – the same as Jing ji – economic Guan li – management Xian ….. ranhou – first …. Then 2. Wei le - for‚ in order to Na – to take
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