CHAPTER 6 MASTER BUDGET AND RESPONSIBILITY ACCOUNTING 6-16 (15 min.) Sales budget‚ service setting. 1. |McGrath & Sons |2009 Volume |At 2009 |Expected 2010 |Expected 2010 Volume | | | |Selling Prices |Change in Volume | | |Radon Tests |11‚000 |$250 |+5% |11‚550
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Derek Greenfield Intermediate Accounting I 3/2/2012 CA1-1.) 1. True 2. False‚ must comply with all standards and interpretations including disclosure requirements 3. True 4. False‚ FASB must operate in full view of public through a “due process” system that gives interested parties ample opportunity to make their views known CA1-3.) 1. D 2. A 3. D 4. B 5. A 6. B 7. A 8. B E2-5.) Assets- F Liabilities- B Equity- I Investment by owners-
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3-27 (30 min.) Sales mix‚ new and upgrade customers. 1. | NewCustomers | UpgradeCustomers | SPVCUCMU | $275 100 175 | $100 50 50 | The 60%/40% sales mix implies that‚ in each bundle‚ 3 units are sold to new customers and 2 units are sold to upgrade customers. Contribution margin of the bundle = 3 $175 + 2 $50 = $525 + $100 = $625 Breakeven point in bundles = = 24‚000 bundles Breakeven point in units is: Sales to new customers: | 24‚000 bundles
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INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA COURSE OUTLINE Kulliyyah / Institute Economics & Management Sciences Department / Centre Accounting Programme Bachelor of Accounting Name of Course / Mode Zakat Accounting Course Code ACC 4563 Name (s) of Academic staff / Instructor(s) Dr Ahmad Zamri bin Osman @ Hussin Room No. A 326 Tel. No: 03-6196 4000 ext 4672 This course is expected to provide students with a proper understanding on the concepts of Zakat;
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Acknowledgments These course notes were originally developed by me for EE476 in Fall 1996 at Washington State University (WSU). The material in these notes has been derived from several sources. These include Dr. Venu Gopinathan’s course notes from Columbia University‚ Dr. David Rich’s analog IC design course notes‚ Prof. Terri Fiez’s EE476 course notes‚ and Prof. Paul Gray’s EE240 lecture notes. Their contributions to these notes are gratefully acknowledged. Also a significant amount of the material
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Review of Accounting Fundamentals The Accounting Equation Assets = Liabilities + Equity Equity = Contributed Capital + Retained Earnings Retained Earnings = Beginning Retained Earnings + Net Income for the Period – Dividends Net Income = Revenues – Expenses + Gains – Losses Assets ( Probable future economic benefits obtained or controlled by a particular accounting entity as a result of past transactions or events Liabilities ( Probably future sacrifices of economic benefits
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feasibility or even the efficacy of newly developed drugs. Statistics is also used to understand the spread of the disease and study their prevention‚ diagnosis‚ prognosis and treatment (Epidemiology). JDEUSTAQUIO 1 Economics: Statistics aids Economists analyze international and local markets by estimating some Key Performance Indicators (KPI) such as unemployment rate‚ GNP/GDP‚ amount of exports and imports. It is also used to forecast economic fluctuations and trends. Market Research: derives
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The International Accounting Standard Committee (IASC) came into existence on June 29 1973 when sixteen accounting bodies from nine nations (designated as founder members) signed the agreement and constitution for its formation with headquarters at London. The objective of the committee is "to formulate and publish in the public interest standards to be observed in the presentation of audited financial statements and to promote their worldwide acceptance and observance". This would
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Lecture 1 – Multinational Financial Management: An Overview Review goals of multinational corporations (MNCs) and conflicts with those goals. Describe the key theories that justify international business. To explain the common methods used to conduct international business. Multinational Corporations Goal of the MNC – maximize shareholder wealth Conflicts against this goal Agency problems – managers act in their own interest
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Accounts Receivable: an amount due from another party two of the most common are: Accounts Receivable &Notes Receivable others are: interest receivable‚ rent receivable‚ tax refund receivable‚ and receivables from employees Accounts Receivable- are amounts due from customers for credit sales when a company does extend credit directly to customers it: 1. Maintains a separate account receivable for each customer 2. accounts for bad debts from credit sales Recognizing Accounts Receivable:
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