effectively through direct personal experience via the actual information from the manufacturers. ii) To focus attention on the learning process by delivering and exchanging information among the members of the group. iii) To promote translation of accounting theory into specific and meaningful experience. iv) To cultivate students to organise themselves‚ interdependent among the group members and communicate with one and another. v) To encourage students to experience lifelong learning and to practice
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ACT – MBA 6203 Brenda Hogan October 23‚ 2012 Article Summary: Strategic Cost Management: The Value Chain Perspective Authors of this article do not believe the concept of “value chain” has been written about enough or clearly enough and therefore attempt to state the importance of the value chain on strategy from a managerial accounting perspective. Michael Porter first wrote about this in 1985. [ (Porter‚ 1985) ] They believe that any organization must understand the entire value chain
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1). Fixed cost per unit decreases when: a. Production volume increases. b. Production volume decreases. c. Variable cost per unit decreases. d. Variable cost per unit increases. 2). Prime cost + Factory overhead cost is: a. Conversion cost. b. Production cost. c. Total cost. d. None of given option. 3). Find the value of purchases if Raw material consumed Rs. 90‚000; Opening and closing stock of raw material
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ACC310 Cost Accounting University of ASHFORD http://www.accttutorials.com/downloads/acc310-cost-accounting-university-ashford/ Click above Link to get this A Graded Material For More information visit our website: http://www.accttutorials.com ACC310 Cost Accounting University of ASHFORD ACC 310 Week 1 DQ 1 Information for Decision Making and Cost Concepts and Behavior Complete Exercise 1-18 and 2-19. Remember to complete all parts of the problems and report the results of your analysis. Do
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determine and calculate product cost. The income statements formats of both methods include period and product costs. However‚ each one has a different cost classification definition. Both have the same direct material and direct labor allocation‚ the differences is how they report the income‚ product‚ and pricing One of the main differences between the two methods is the accounting for the fixed manufacturing costs. In variable costing‚ fixed manufacturing costs are looked at as expenses of
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only variable manufacturing costs. Answer: False Difficulty: 1 Objective: 1 Terms to Learn: absorption costing Absorption costing “absorbs” all manufacturing costs‚ both fixed and variable. 2. Variable costing includes all variable costs — both manufacturing and nonmanufacturing — in inventory. Answer: False Difficulty: 1 Objective: 1 Terms to Learn: variable costing Variable costing includes only manufacturing variable costs in inventory. 3. Under both
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Article Review Journal of Accountancy UMUC Accounting Information Systems 326 Professor T. Wood December 4‚ 2011 Cloud Computing: What Accountants Need to Know‚ (Journal of Accountancy‚ Oct 2010). This article answers the questions that Accountants and CPA should be asking themselves in regards to the new technology that is growing fast. Cloud technology is growing so fast that‚ cloud services revenues were expected to surpass $68 billion dollars in 2010‚ which was almost a
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GUILLERMO VAJDA COST ACCOUNTING ASSIGNEMENT 3 CHAPTER 5 Exercises 5-29‚ 5-42‚ 5-44‚ 5-46‚ 5-50‚ and Problem 5-56 5-29 Al’s Speedy Gourmet‚ a small hamburger shop‚ has identify the following resources used in its operations. Each customer order is a batch. 1 Classify its costs as unit-level‚ batch level‚ product level or facilities level costs. 2 Suggest a proper driver for each item. Bread. Unit-level. Hamburger Hourly help- facilities level. Labor Store rent – Facility-level. Ground beef
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Cost Concepts Semester II Basic Terms • Cost is the amount of expenditure‚ actual (incurred) or notional (attributable)‚ relating to a specific thing or activity. The specific thing or activity may be a product‚ job‚ service‚ process or any other activity • Expenses are expired costs‚ incurred and totally used up in generation of revenue • Loss is lost cost. The term ‘loss’ is used to describe mainly two accounting events. In traditional financial accounting it is used to denote a situation
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Ulum / 1639047 IAP assignment : Article Review Jones‚ MJ 2010‚ ‘Accounting for the environment: towards a theoretical perspective for environmental accounting and reporting’‚ Accounting Forum‚ vol 34‚ pp. 123-138. In this article‚ Jones is pointing out about the existence of a relationship between human‚ especially enterprises‚ with the environment. This relationship then becomes a fundamental background of the implementation of the environmental accounting to safeguard the world. Beside‚ he
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