COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with recording
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WORKING CAPITAL AND FIXED CAPITAL AND ITS ADVANTAGES Introduction: A firm requires funds to acquire two types of assets : fixed assets and current assets .Fixed assets include land biulding ‚ plant‚ and machinary ‚ vehicles ‚ equipment etc.These assets relatively permanent in nature and are necessary for carrying on the bussiness .Current assets ‚on the other hand ‚are kept for supporting day-to-day operations and keep changing during the course of the business.They liquidated within short period
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or A Fixed Mindset? According to Dweck’s research‚ “Intelligence is something that can be cultivated through effort and education” (1). Carol S. Dweck Professor of Psychology at Stanford University studies about different mindsets in her book‚ Mindset: The New Psychology of Success. She studies two different mindsets one called fixed‚ and the other called the growth. She also discusses how parents praising their children can be traumatic. Through her research‚ she found those with fixed mindsets
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going into BP (1325 Broad Street) running over the median and headed into on coming traffic before entering the PVA of BP. Upon witnessing Mr. Ogburn driving careless and reckless I initiated a traffic stop in the PVA of BP and approached his vehicle and asked him for his license and registration. He provided his license and could not find his registration after searching for it for several minutes. I asked Mr. Ogburn why he ran over the median heading into on coming traffic to get to BP and he stated
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period at 2.40% + 1.30% = 3.70%.. 11. Answer the below questions. (a) What is the advantage of a call feature for an issuer? Inclusion of a call feature benefits bond issuers by allowing them to replace an old bond issue with a lower-interest cost issue if interest rates in the market decline. A call provision effectively allows the issuer to alter the maturity of a bond. The right to call an obligation is included in most loans and therefore in all securities created from such loans. This is
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Ethics and the Oil Industry Todd Bosta Monday‚ November 8‚ 2010 Does anybody Care? As the US Economy continues to dive‚ unemployment persists at a level not seen since the Great Depression‚ and the US Federal Government sees fit to continually bailout big business‚ it escapes logic why the cost of oil once again‚ is on the rise. The US oil companies would have us believe it has to do with the Middle East oil producing nations cutting back on production‚ therefore raising
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Syria and Ukraine‚ oil prices increased significantly as did the profit earned by many oil companies including PETRONAS. Politicians in Malaysia opposed the government policy to oil price increase by twenty cents and the withdrawal of oil subsidy. As a manager or policy implementer‚ discuss the pros and cons if this policy in the context of the various theories of profit. Introduction The government of Malaysia increased the price of oil by 20 cents and withdrawal of the oil subsidy causing the
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times‚ especially as adults we seem to have a fixed mindset‚ which is “the belief that intelligence is an entity‚ set and birth and unchangeable” (Passarelli 2014). Meaning that you are intelligent because you were born into a family of well- educated people that passed the “smart” gene to you or you don’t have it because you were not born into a family who maybe went to college or finished high school. I have to say‚ I don’t agree with this theory of a fixed mindset because I know many people‚ including
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little influence over the price of goods. 1. A monopoly is a market structure in which there is only one producer and one seller for a product. In other words‚ the single business is the industry. Entry into such a market is restricted due to high costs or other impediments‚ which may be economic‚ social or political.. 1-Pricing power controlled by companies (constrained by demand curve and possible) 2- the economic efficiency is low allocative but economies of scale and reinvested
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degree at the same University‚ but scholarship would not cover the additional tuition fees and living costs of his 1 year stay at the university to attain the minor degree in IFE. He estimated that it would involve an additional cost of RM40‚000. HOW WOULD THE MONEY GROW? Not knowing how exactly he should grow the money‚ Afiq Firash contacted his cousin (Rauf) who is an engineer with an oil and gas company in Sabah for advice. Without hesitation‚ Rauf suggested an IPO (initial public offering)
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