source same End result ! ends with financial statements ! integral part of other business aspects B. Cost Accounting Terminology 1. Nature of Cost Cost - A sacrifice of resources: Cost is a measurement in monetary terms of the amount of resources used for some purpose. Expense - The cost charged against revenue in a particular accounting period. 2. Purposes of Gathering Cost Information Routine decision making:
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Workforce Diversity Samsung Electronics Table of Contents Chapter One 3 Introduction Chapter Two Literature Review 4 Sustainability Report 5 Forbes Insights 6 Reference 3 Chapter Three 7 Methodology Qual: Interview Qual: Survey Quant: FM Chapter Four 8 Discussion Chapter Five 10 Conclusion 11 Sources Introduction Samsung Electronics Co Ltd was founded in 1938 Seoul‚ Korea. The company has been around for decades‚ providing the world with “electronic products &
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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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Street Journal. Cost Management and Strategy – refer to your assigned questions and problems Cost Drivers and Basic Cost Concepts -- What is a cost? Define cost pools. What is a cost object? cost assignment? Contrast a direct cost with an indirect cost. Define cost allocation. What is an allocation base? Contrast cost assignment with cost allocation. What is a direct material? Direct labor? Indirect material? Indirect labor? factory overhead? What are conversion costs? Prime costs? What are the
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November 2012 The Nokia and Samsung Brand Personality in China* Wendian Shi1**‚ Yanhong Luo2 and Liheng Yang2 Educational School‚Shanghai Normal University‚ shanghai‚ China 1 Educational School‚ Ningxia University‚ Yinchuan‚ China 2 Email: swd_nx@shnu.edu.cn Abstract The purpose of this paper is to study and compare the brand personality of Nokia and Samsung in Chinese situation for brand building reference. This paper investigated Nokia and Samsung brand personality. Results demonstrated
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11 Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
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Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
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Cost Management or Cost Control In broad sense‚ both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations‚ many times‚ one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits Making
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SAMSUNG LEARNING POINTS This is a great case dealing with the “big picture/helicopter vision”. It is an ideal case to get us started. Below are the main learning points. There may also be other things you learnt from the class‚ that are not listed here. Think about how you can take some of these learning points back to your own companies and context‚ and apply them. The case teaches us: - about moving from a production/selling orientation to a market orientation. This is really really
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under efficient operating conditions absorption costing all manufacturing costs are assigned to products: direct material‚ direct labour‚ variable and fixed manufacturing overhead acceptable quality level (AQL) the defect rate at which total quality costs are minimised account classification method (or account analysis) the process in which managers use their judgement to classify costs as fixed‚ variable or semivariable costs accounting rate of return (or simple rate of return‚ rate of return on assets
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