Chapter 2 Cost Terms‚ Concepts‚ and Classifications Exercise 2-2 (15 minutes) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10 . 11 . 12 . 13 . 14 . 15 . Depreciation on salespersons’ cars ................ Rent on equipment used in the factory .......... Lubricants used for machine maintenance ..... Salaries of personnel who work in the finished goods warehouse.............................. Soap and paper towels used by factory workers at the end of a shift ...................... Factory supervisors’ salaries
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Content 1 Introduction 1 1.Task one 2 The models and concepts affecting the pricing decisions taken by organisations‚ critically reflecting upon their usefulness 2 2‚ Task two 6 The role of standard costing and variance analysis in management accounting and a critically discussion of the value and limitations of variance analysis as a means of identifying key areas which have contributed to the overall profit figure. 6 3‚ The advantages and disadvantages of introducing an Activity Based Costing
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$500‚000 and is known by both Brickhouse and Boudreau to be a fairly "soft" amount. Identify possible causes of action. -Brickhouse is acting unethically. His action serves only his self-interest‚ self review and has no clear basis in proper accounting procedures‚ so ignoring the familiarity with brickhouse ‚the controller‚ Louise Boudreau‚ should not manipulate net income in view of any compensation plan the company may have.He must comply with relevant laws and regulations and not assist others
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Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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Salamah Al-Kindi Ms.Loan English 10/03/13 Goals in life Everyone seems to ask themselves what do they really want from their life? The only question is what kind of life you want. Each person chooses his/her own path in life. In many people lives‚ there are many different interests. This mean that a person may give special attention to something that they love to do in life. Some people want wealthy and fame‚ while others want a happy family. From a person coming from a rich family they
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Life Goals of Life Goals of Steven Steven Student Life Goals of Steven Setting goals and reaching them is something we encounter every day of our life and more so throughout our adult development stages. As we age‚ most would agree that we become wiser and our decision making process is altered due to general experiences and life altering events such as becoming a husband‚ wife‚ father‚ or a mother. During a lifetime‚ it can be estimated that thousands of goals are established
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There are many goals in my life that I would love to achieve. I am 18 years old so I can’t write as much as someone twice my age will say‚ but I strictly know my high school goals‚ college goals‚ career goals‚ and personal goals. As an 18 year old I have a lot already planned out so I will soon see how close I follow my goals. My first and most important high school goal I have is to finish school with a G.P.A. 3.0 or higher. I cannot stress enough how important this goal is to me‚ for
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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Phoenix Material University Learning Goals The university learning goals are essential skills that hiring managers look for when reviewing applications. Knowing how to incorporate the learning goals into your career competencies can help you in the application and career-search process. Fill in the following table with 100-word summaries of how each university learning goal can help you with career preparedness. University learning goal How each goal prepares you for success in the workplace
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