Nature of Accounting and the Accounting Standard Background Accounting is an important part for business and it is dubbed “language” of business activities conducted by firms. People think it is used to communicate business transactions per se to all stakeholders. However‚ some people argue that the functions of accounting are not that easy. Except the communication tool‚ accounting acts as many other difference roles in business. When doing accounting‚ different standard may be used. There are
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Cost Accounting -- MIDTERM 1 1) Pointed Pencil company incurs the following costs in its manufacture of pencils. Classify each one of them according to one of the value chain functions: Functions: A) Research and Development B) Design of products‚ services‚ and processes. C) Production D) Marketing E) Distribution F) Customer Service G) Strategy and Administration ____ 1) Cost of wood used in manufacture of pencils. ____ 2) Cost of wood used in packing cartons to ship pencils. ____
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Costs assigned to the building of a house should appear on the income statement when Answer a. the purchase order to manufacture the house is received. b. the house is sold. c. cash is collected for the sale of the house. d. the house is completed. The basic document for keeping track of costs in a job order costing system is a Answer a. labor time card. b. job order cost card. c. process cost report. d. materials requisition form. The following information is available at the
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BM6026 - Managerial Accounting & Finance Mini Assignment - Sem 1 2014/2015 Name : Suriati Binti Yusse Matric no : MB1412199T Class : Tuesday - 7.00PM - 10.00PM product selling price Variable Cost : Material : Extract of Tongkat Ali Other Ingredients Packing Material Overhead Cost : Drying cost of liquid Other Overhead Cost Labour Cost : Processing Packaging Total Variable Cost Unit Contribution Margin Expected volume sales % of total sales Weighted Contribution Q1 : capsule
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Emancipation‚ Du Bois points out how the Emancipation actually affected the African Americans. Du Bois states that although they were free‚ they still didn’t have a place in society with freedom. The aftermath of the Emancipation led to new kinds of discrimination. Du Bois is explaining a movement of education. The ideal of ‘book-learning’ and fulfilling the curiosity and longing of knowledge especially because this was the time of freedom and change beyond compulsory ignorance. Du Bois is talking
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While analyzing and discussing the issues of epistemology‚ determinism and consciousness in relation to Du Bois’ thoughts on race and ethnicity‚ an attempt to answer the questions of whether or not these relationships alter or add to the standard philosophical conceptions of the Self and Personhood from the epistemological standpoint of my own gender‚ ethnic background‚ and personal identity. Du Bois’ theories on race/ethnicity adjacent to American society still touch base with the minority community
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COMUNIUTY SERVICE 4D Frederic Sadoun Community service is what makes the society much more joyful to live in. Some think community service is painful and they are only doing it because they are forced to and the need it to pass their high school‚ well I have a different opinion and I would like to share it. Community service can be really joyful because what goes around comes around meaning: the fact that I help someone I will get it back doesn’t matter if it’s in a day two
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“Double consciousness” is a term that Du Bois himself coined to describe African-Americans in the United States‚ living with two conflicting identities. While he believed that it was a negative aspect of life as an African-American‚ he also acknowledges the benefits of it. This feeds into another concept Du Bois developed called “the veil”. While African-Americans are able to understand what life is like as an American outside of their group‚ they are the only ones able to understand the life of
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opinion‚ why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them? In my opinion the reason for this is that accounting equations must always balance and the two sides must always be equal. Each transaction has a dual
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3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does
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