CONFIDENTIAL AC/OCT 2010/ACC116/165/211 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE COURSE CODE EXAMINATION TIME INTRODUCTION TO COST ACCOUNTING / COST ACCOUNTING ACC116/165/211 OCTOBER 2010 3 HOURS INSTRUCTIONS TO CANDIDATES 1. 2. 3. This question paper consists of five (5) questions. Answer ALL questions in the Answer Booklet. Start each answer on a new page. Do not bring any material into the examination room unless permission is given by the invigilator. Please check to
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The historical cost accounting is an accounting technique that values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition. It is usually used in combination with other measurement bases. For example‚ inventories are usually carried at the lower of cost and net realizable value‚ on the other hand marketable securities are usually carried at market value‚ and entities prefer to carry pension liabilities at their present value. The main advantage of using
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professional level and it’s growing rapidly growing. At this level athletes put a lot of their time to spend hours every day practicing. Right now‚ a college athlete cannot be given money for their effort or marketed in a way that could profit the school or themselves. A growing debate centers on whether these athletes should be able to make money for all their hard work. Every year‚ the NCAA and other universities earn millions of dollars from their athletes that everyone loves to watch. For example‚ the
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treatment for share issue costs As you requested‚ I have researched the accounting issue‚ regarding the proper accounting treatment for the share issue costs. I hope this recommendation will be of assistance to you. Share issue cost: A corporation may incur miscellaneous costs that are related directly to issuing its capital stock. When related to the initial issuance of stock at incorporation‚ the corporation records these costs as an expense. On the other hand‚ the costs related to later issuances
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Making $€N$€ of Data Center Planning Your Data Center… 1 Introduction Do you agree…. 1. Businesses are increasingly dependent on their IT infrastructures to drive mission-critical operations throughout the enterprise. 2. Significant cost savings can be realized through data center consolidation and right-sizing. 3. And every business needs a business continuity plan that includes disaster recovery‚ backup and remote operations. 4. Continual evolution of infrastructure technology is transforming
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their characteristics and social relationships. Hence‚ it is important for children to participate in any types of paid work. The only problem with this approach is that children can be easily exploited or they can lose track of their studies which are way more important to them. This essay gives a personal viewpoint on how paid work affects children’s development. Firstly‚ paid work gives children real life work experience and helps them develop their characteristics. For example‚ children will
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In the books of a Company Cost Sheet for the period ended…….. Units Produced….. Name of the product unit sold…. Particulars Total cost Rs. Unit Cost Rs. Opening stock raw materials Add Purchases of Raw Materials Add: Expenses on Purchases of Raw Materials (octroi & duty) Less: Closing stock of raw materials Less: Sale of scrap or defectives of raw materials = Cost of materials consumed Add: Productive Labour Add: Outstanding wages Add: Direct Expenses( architect’s
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money that they are paid. Being debatably the most hardworking people alive on this planet‚ the companies they work for make billions of dollars in revenue every year‚ they should at least be earning a sliver of the companies income. Along with that‚ these athletes make good use of the money they earn‚ by donating to charities‚ and giving back to their communities. Companies like the NHL and the NBA are multi million dollar or even billion dollar companies. Athletes are paid what they deserve because
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Analysis of “The Well Paid Receptionist” Harvey Finley is in quite the predicament. He his company’s net profit should be approximately $107‚ 614.21 greater than he expected for this year. The problem is that his secretary/receptionist is making six to seven times the amount of an average “good” secretary/receptionist in the local market and has been for a few years. There’s a few ways this issue can be addressed. One way would be to talk to Ms. Brannen and advice her that there has
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understanding about cost accounting. This paper will discuss: Why is cost accounting so important to the success of the firm; what are the various methods of cost accounting and how are they used; how does an operating budget work to discipline a firm’s management; what are the elements of a budget; how are budgets constructed; what is variance analysis and how it is used. Cost accounting can be described as the process of accumulating‚ measuring‚ analyzing‚ interpreting and reporting cost information
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