Cost Classification Introduction: In this assignment I will be discussing how costs incurred in any organization may be classified in a number of different ways for a number of different purposes. I will also be looking to find companies that use a variety of different costing techniques and methods. I will also be discussing the comparisons between marginal and absorption costing and how the concept of activity based costing can also be compared with these. To complete the assignment I will
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What do you want to be? Software Engineer Fashion Designer IAS Economist Entrepreneur And Many More .….. Plan your career lot of alternatives each alternative competes with other choosing careers based on academics‚ personality and desire imbalance between options and expectations of parents and friends Winning Ways Some Career Options Engineering Merchant Navy Architecture Defense Medicine Commercial Para-medicine Pilot
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Multiple Choice Questions 16. Which terms would make the following sentence true? Manufacturing companies that benefit the most from activity-based costing are those where overhead costs are a _________ percentage of total product cost and where there is ___________ diversity among the various products that they produce. A) low‚ little B) low‚ considerable C) high‚ little D) high‚ considerable 17. Would factory security and assembly
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“Adoboli Trades Were Queried by UBS Accountant” I chose an article from the Financial Times that is based on a man by the name of Kweku Adoboli‚ a former trader based in London. Adoboli was accused of fraudulently gambling away $2.3 billion from the Swiss bank‚ UBS. According to his LinkedIn profile‚ from 2006 to 2011‚ he worked at USB’s Equity Trading division as a trade support analyst in the London office. In August 2011‚ a back office accountant at UBS started asking Adoboli questions once
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Cost Classifications and Estimation 2.0 Introduction Cost classification may be defined as ‘the arrangement of cost items in a logical sequence having regard to their nature and purpose to be fulfilled’. The term cost must be qualified when in use in order that its precise meaning is established in a particular situation; however‚ cost refers to the amount of resources that have been diverted from other uses or sacrificed so as to achieve the desired objective. But the term is used to refer to
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each purpose discuss whether information about current or future product costs is required. What implication does your answer have for developing a product costing system? L-S‚ T & H‚ page 131. Purpose Current / Future Product Costs Short-term decisions: product mix‚ pricing Future Longer-term strategic decisions Future Long-term pricing Future Plan future product-related costs Future Control of product costs Current Reimbursement contracts Current External reporting (inventory
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---------------------------------------------------------------------------------- -2- 2. The first effect: accountants responsibility increase * Special sections of SOX that increase accountants responsibility by imposing criminal liability------------------------------------------------------------------------------------------ -3- * Accountants independence resulting in a higher responsibility of accountants------- -4- * Fraud decrease as a consequence of increased transparency of financial reporting
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historical cost accounting still widely and continuously to be used by most companies in their accounting. Conversely‚ reporting current cost in accounting are recommended rather than historical cost as it is the fair value reported in the current year would be beneficial to the firm and the shareholders of the company. 2.0 Historical Cost Accounting and Benefits of Current Cost 2.1 Introduction to Historical Cost‚ Disadvantages and Advantages of Historical Cost The historical cost accounting is
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and room for growth and advancement. While I was working there I thought it was what I wanted‚ but as time progressed I realized it may not be for me. I had been out of school for 2 years when I accepted this job‚ so I wasn’t quite sure as to what career path I wanted to take. My decision at the time was to work full time and remain productive with that. Sometime you have to make a few changes within in yourself in order to grow as a person. Just because a certain job makes a decent amount of money
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The Cost of College THE PROBLEM: The cost to attend college is high‚ and has been rising for many years. The cost of college is too high‚ a lot of people can’t afford it‚ and unemployment rates are sky high. Why is the cost of college so much? The best answer would be our economy. Our economy has a great effect on the rising prices of everything‚ including college tuition. Another factor influencing the price of college is the demand for a higher education‚ for a well-paying job is more than ever
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