Chapter 1 Cost Accounting: Information for Decision Making Solutions to Review Questions 1-1. Financial accounting is designed to provide information about the firm to external users. External users include investors‚ creditors‚ government authorities‚ regulators‚ customers‚ competitors‚ suppliers‚ labor unions‚ and so on. Cost accounting systems are designed to provide information to internal users (managers). This difference is important‚ because it affects the design of the systems. Financial
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------------------------------------------------- Subject: Managerial Accounting Case 1 Seligram In the Seligram case‚ the existing cost accounting system measured two components of cost: direct labor and burden. All burden cost‚ which is the overhead‚ was grouped into a single cost pool and was calculated only by using a burden rate per direct labor dollar. This may cause problems since direct labor and overhead are not consumed by the products in the same proportion. Simply using the same burden
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Modern accounting systems have become the foundation from which the modern organization can rely and depend upon to maintain a strong efficient strategy that will help the organization grow. The modern accounting systems embraces the old accounting practices that have been used for hundreds of years and builds upon that platform to give modern organizations control over the finances. There must be set in place internal controls to keep the company assets from being stolen and that is why modern
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we owe to the play of imagination is incalculable.” C.G Jung. Non – directive play therapy is an effective and non – intrusive approach to working therapeutically with troubled children and young people. It is intended for all those who‚ through their professional role‚ may be asked to work directly with emotionally damaged children‚ whether in statutory child care agencies‚ or in other mental health or voluntary and not for profit settings (Wilson and Ryan 2005). Non – directive play therapy makes
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Managerial Accounting 10th of March Anhar Hardjakusumah Understanding Cost Concepts Cost Terminology Product (Manufacturing over(head+ direct labor and materials) and Period Cost (selling + administrative) Variable and Fixed Cost Direct and Indirect Cost Controlable and uncontrollable cost Differential (the difference between the cost of two alternative decisions) Marginal (the change in the total cost that arises when the quantity produced has an increment by unit. That is‚ it is the cost of
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ROLE OF COMMUNICATION IN AN ORGANIZATION Communication -is the process individuals use to create shared meaning in an interaction. -goal is to approach a common understanding of a message. Factors affecting an individual’s ability to communicate 1) Gender 2) Language 3) Culture 4) Past experiences 5) Speaking and writing skills 1. Modes of Communication 1) Written -occurs through formats such as memos‚ emails‚ reports or letters 2) Verbal -Consists of oral methods such as person-to-person
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(8:30am): Lab‚ Marisa Morriello 2020 W (11:30am): Lab‚ Iva Charlopova Week 11 2 Stanco Inc. • Groups in the Right: Assume the role of Manager of the Electronics Division; evaluate the impact of supplying XL5 internally for $9 on Division’s profitability – Evaluate the impact of supplying XL5 internally for $12.5 on Division’s profitability • Groups in the Left: Assume the role of Manager of the Clock Division; evaluate the impact of buying XL5 for $12.5 internally on profitability – Manager of the
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2.1 Ten managerial roles as identified by Mintzberg Managerial roles define behaviors and traits certain managers possess. Henry Mintzberg identified ten managerial roles. Henry Mintzberg developed a thesis based on his research about the nature of managerial work analyzing the actual work habits and time management of CEOs. In his research‚ he had come up with the identification of the following 10 separate roles in managerial work: The first managerial role is a figurehead. A figurehead is
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Good Planning in an organization The first decision that the entrepreneur must make is what type of business he/she wants to start. The decision should be based on the amount of knowledge and skill that they have in the field that they are considering. The better that they know the industry‚ the stronger there likelihood they will have a successful business. THESIS. Business can operate under three legal structures which are: Sole-proprietorship‚ Partnership and a Corporation. The understanding
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In a philanthropy group I’m affiliated with‚ we worked to raise funds for nonprofits‚ so we’ve had to decide on how we would raise money and which non-profits we would give it to. We each provide suggestions and argue for why they deserve some amount of the money we had raised. One of the non-profits I was arguing for ended up receiving some of the money we raised. I needed to use my communication skills in order to argue for my point and convince others to come to my side to some extent. We were
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