Generally‚ the term cost of production refers to the ‘money expenses’ incurred in the production of a commodity. But money expenses are not the only expenses incurred on the production of a commodity. There are number of services and inputs such as entrepreneurship‚ land‚ capital etc.‚ which are offered by an entrepreneur without changing any price or receiving any payment for them. While computing the total cost of production‚ allowance should be made for such expenses. It is therefore essential
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course: This week you learned about the unearned revenue account. Provide three examples of unearned revenue. Answer: Three examples of unearned revenue would be 1.Prepaid Expense - A year long insurance contract a company paid $12‚000 for at the beginning of the year. Since the insurance company owes the company service‚ the expense prepayment is recorded as an asset Journal Entries: debit Prepaid Insurance and credit Cash). 2. Unearned Revenue - A year long subscription of $12‚000 is received
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In the film Raise the Red Lantern‚ by Chinese director Zhang Yimou (1991‚ Zhang Yimou)‚ we are shown the story of Songlian and her experiences as the new fourth wife of her master. The struggle between tradition and modernity as well as femininity versus masculinity is prominent in the film as Songlian is thrown into the Chen family compound‚ fully governed in Confucian tradition‚ and the capitalist democratic competition between the wives and Songlian’s rebellion to tradition causes many problems
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PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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The Synopsis of movie “RAISE YOUR VOICE” Name : Robby Lumenta Teacher : Mr. John Billy Author : Kathryn Lasky Movie title : Raise Your Voice SYNOPSIS In one occasion‚ Hillary Duff rolled as Terry Fletcher who was a talented singer‚ got a chance to join the music class from one of the best music school in Los Angeles. She got a scholarship after her brother‚ Paul‚ sent a video to that music school. Paul made a great short documentary video about terry. But before he knew‚ he died accidentally
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Accounting Standards Board (FASB) have undertaken a joint revenue recognition project that clarifies the principles for recognizing revenue that can be applied consistently across various transactions‚ industries‚ and capital markets. This project will apply to all contracts with customers except leases‚ financial instruments and insurance contracts. The joint project will attempt to remove inconsistencies and weaknesses in existing revenue recognition standards by retrofitting‚ and thoroughly improving
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W. E. B. Du Bois and Booker T. Washington were the two dominant Black leaders of American history during the late nineteenth and early twentieth centuries. Both men had the same goals--eradicating racism‚ segregation‚ and discrimination against their race. However‚ the means to achieve such ends were vastly different‚ thus the paradox of these Promethean figures have been revisited 100 years later as Black people seek to grapple with their ideas even in the midst of a 40-year‚ largely self-inflicted
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There are many ways to reduce your chances of becoming a victim of crime. The three most important areas to lessen the chances are to educate yourself‚ pay more attention and hardening the target. As we grow older‚ we are supposed to become wiser and smarter about the world around us. We sometimes fall into the trap of thinking someone looks nice‚ act nice towards us‚ and is trying to help us. We have seen on too many occasions of these kinds of acts‚ or more importantly these kinds of people
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Q1: explicit costs and implicit costs concepts Explicit Cost Explicit cost is defined as the direct payment which is supposed to be made to others while running business. This includes the wages‚ rents or materials which are due in the contract. The explicit cost is the expense done in business which can easily be identified and accounted for in the business at any stage. The explicit cost represents the out flows of cash in clear and obvious terms. When any out flow of credit occurs in a business
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How is the structure of cells related to their function? Cell structures come in various shapes and sizes dependent on their location within an organism and what life sustaining process it carries out. These can range from the globular protein of a red blood cell‚ designed to carry four oxygen molecules at a time to the tail like flagellum of a bacteria designed for mobility and penetration of organs within a body. There are two main types of cells‚ eukaryotic cells which are generally plant
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