Contract costing is a system of job costing that is applied to relatively large cost units‚ which normally take a considerable length of time to complete. Building and construc¬tion work‚ civil engineering and shipbuilding are some examples of industries where large contract work is undertaken‚ and where contract costing is appropriate. Contract Costing deals with the books of the Contractor only‚ i.e. the cost of the work and measuring the profit or loss on the contract. Contract costing is
Premium Contract Contractual term
ACCT3003 Issues in Accounting Theory SP5 2010 Topic 4: Heritage and biological assets. The following question has some minor changes due to amendments to AASB 141 which removed reference to ‘estimated point of sale costs” and replaced it with “costs to sell”. 9.22 In 2005‚ Nambour Limited established and commenced operation of a mango farm. The trees were planted in 2005 and began producing saleable mangoes in 2011. On 30 June 2012‚ 90% of the mangoes are sold‚ one week after they were
Premium Sales Mango Balance sheet
Differences in operating income between variable costing and absorption costing are due to accounting for fixed manufacturing costs. Under variable costing only variable manufacturing costs are included as inventoriable costs. Under absorption costing both variable and fixed manufacturing costs are included as inventoriable costs. Fixed marketing and distribution costs are not accounted for differently under variable costing and absorption costing. 9-2 The term direct costing is a misnomer for variable
Premium Variable cost Costs
RUNNING HEAD: NIKE & UNDER ARMOUR FINANCIALS Nike & Under Armour Financial Analysis Table of Contents Background……………………….……………………………………………………………………..3 Progress in last year…………………………………………………………………………………..3-5 Profitability/Debt Ratios…………………………...………………………………………………...5-7 Net Profit Margin………………………..……………………………………………………….5 Gross Profit Margin………………………...…………………………………………………….6 Return on Equity………………………….…………………………………………………...6-7 Earnings per Share……………………..………………………………………………………
Premium Financial ratios Revenue Generally Accepted Accounting Principles
Accounting Standards Board University of Phoenix Accounting Theory and Research Jun 13‚ 2009 Accounting Standards Board To address the increasing challenges of legislating those governs our society today‚ “countries all over the world have begun to outsource rulemaking to bodies consisting of people familiar with the subject. For that reason‚ policymakers rely on private entities to establish financial accounting and reporting standards” (Donald Kieso‚ 2003‚ Intermediate Accounting). The
Premium Balance sheet Generally Accepted Accounting Principles Income statement
Cost Accounting‚ 14e (Horngren/Datar/Rajan) Chapter 2 An Introduction to Cost Terms and Purposes Objective 2.1 1) Cost objects include: A) products B) customers C) departments D) All of these answers are correct. Answer: D Diff: 2 Terms: cost object Objective: 1 AACSB: Reflective thinking 2) Actual costs are: A) the costs incurred B) budgeted costs C) estimated costs D) forecasted costs Answer: A Diff: 1 Terms: actual costing Objective: 1 AACSB: Reflective thinking 3) The general term used to identify
Premium Variable cost Costs
charged year of 1968. The revolution that occurred was not strictly political‚ however‚ and young college students strived to make social statements with “sex‚ drugs‚ and rock and roll”. The assassinations of Rev. Dr. Martin Luther King Jr. and Senator Kennedy also occurred in the same bittersweet year‚ as well as widespread riots leading to violent takeovers of college campuses‚ the 1968 Democratic Convention riot‚ outbursts by the Black Panthers‚ including a black power salute at the 1968 Olympic games
Premium Martin Luther King, Jr. John F. Kennedy United States
Realization of Positive Politeness Strategies in Language in Terms of The Theory of Brown and Levinson (1987) Part one :Theoretical Background What is Politeness? We live in a world of language. The use of language is an integral part of our being human. We spend times and times of our lives talking-using language. We talk face to face‚ over the phone or even in our dreams. Our language is the source of our humanity and power. Yet‚ how should we use it? Hymes says: “how
Premium Politeness theory
Cost Concepts Semester II Basic Terms • Cost is the amount of expenditure‚ actual (incurred) or notional (attributable)‚ relating to a specific thing or activity. The specific thing or activity may be a product‚ job‚ service‚ process or any other activity • Expenses are expired costs‚ incurred and totally used up in generation of revenue • Loss is lost cost. The term ‘loss’ is used to describe mainly two accounting events. In traditional financial accounting it is used to denote a situation
Premium Costs Variable cost Cost
Merger and Acquisition accounting in the UK and their effects to stock prices by Yan Shao 2006 A Dissertation presented in part consideration for the degree of MA in Finance and Investment Abstract There has been considerable controversy surrounding the accounting practices for mergers and acquisitions. The focus of this controversy has been on the differences in financial statements that arise under the two accounting methods: merger (pooling-ofinterests) (Add together the book
Premium Balance sheet International Financial Reporting Standards Generally Accepted Accounting Principles