Moffitt‚ PhD Course Name: ACCT 3001 v1.0 (Section 3) Module 1: Financial Accounting & Accounting Standards 1. Differentiate broadly between financial accounting and managerial accounting. -Financial accounting measures‚ classifies‚ and summarizes in report from those activities and that information which relate to the enterprise as a whole for use by parties both internal and external to a business enterprise. Managerial accounting also measures‚ classifies‚ and summarizes in report form enterprise
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Meaning of cost ‘COST’ represents a sacrifice of values‚ a foregoing or a release of something of value. It is the price of economic resources used as a result of producing or doing the thing costed. It is the amount of expenditure incurred on a given thing. Cost has been defined as the amount measured in money or cash expended or other property transferred‚ capital stock issued‚ services performed or a liability incurred in consideration of goods or services received or to be received. CLASSIFICATION
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Personal life experiences‚ personal facts‚ relationships‚ and so on. Characters and themes of the story portray part of the author’s life events and gives the reader an insight of the history of the author. The short stories “A Pair of Tickets‚” “The Open Boat‚” and “The Yellow Wallpaper”‚ all revolve around characters who mirror their authors. Amy Tan’s “ A Pair of Tickets” begins with the main character (Jing- Mei) on her way to China to fulfill her mother’s dream. As the train enters Shenzhen‚ China
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The Open Boat NONE OF THEM KNEW THE COLOR OF THE SKY. Their eyes glanced level‚ and remained upon the waves that swept toward them. These waves were gray‚ except for the tops‚ which were white‚ and all the men knew the colors of the sea. The line between sky and water narrowed and widened‚ and fell and rose.A man likes to take a bath in a bigger area than this boat could provide. These waves were frightfully rapid and tall; and each boiling‚ white top was a problem in the small boat.The cook sat
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Strategic Management Accounting 2014 / 15 Level 6 Module Code 44-6785-00C Sheffield Business School Module leader - Richard Watkinson TABLE OF CONTENTS Page What’s this module about? 3 How will this module deliver the relevant industry sector skills and competencies? 3 How will this module be delivered? 4 Assessment Package 5 How will Blackboard be used with this module? 5 How will student feedback be obtained on this module and how will this be
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Lab budgeting and cost accounting under DRGs Medical Laboratory Observer‚ Feb‚ 1985 by W. Glenn Cannon Cost accounting is not a solution to management problems. It is a management tool designed to provide information that facilitates sound decisions. The two primary objectives of cost accounting are 1) to match cost with revenue and 2) to match resource consumption with the units of service provided. Under the DRG system‚ matching revenue with cost and evaluating appropriate utilization levels
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CHAPTER 1 THE ACCOUNTANT’S ROLE IN THE ORGANIZATION TRUE/FALSE 1. Management accounting information focuses on external reporting. Answer: False Difficulty: 1 Objective: 1 Terms to Learn: management accounting Management accounting information focuses on internal reporting. 2. A good cost accounting system is narrowly focused on a continuous reduction of costs. Answer: False Difficulty: 2 Objective: 1 Terms to Learn: cost accounting A good cost accounting system
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ACCOUNTING FOR FREQUENT FLIERS INTRODUCTION: Accounting for frequent fliers had become a controversial topic since American Airlines in 1981 introduced them as a loyalty program. Loyalty programs provide members with benefits such as discounts and saving rewards‚ which make these programs popular among consumers (Liebermann‚ 1999). In this specific case‚ we define the Frequent Flier Program (FFP) as “the number of mileage credits and associated liabilities outstanding”. This program as we might see
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Question 1 (a)(i) Historical Cost The historical cost concept can be defined as assets and liabilities that must be recorded at historical cost which is the fair value of the given acquired item at the time of acquisition or the amount of proceeds received in exchange for the obligation at the time of the transaction. Example: 1. One month ago‚ Company ABC purchased 10 units of an item at RM12 per unit. The price today is RM13 per unit. Using the historical cost concept‚ the inventory shall
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Boats Are Fun! Essay May 24‚ 2012 by flanaganj You can do a lot of fun stuff on a boat like having a party on it‚ or going at dawn and seeing the sun and its beauty. Or‚ you could try jumping off the sides of it! But… the most fun thing about boats are that it can pull you behind the boat and go really fast! Below are more stories about my times on a boat. Boats are so much fun! Everyone should go tubing.Tubing is fun because you get towed behind the boat and go really fast. If you wanted
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