wrong perception by the receiver. 2. Information Overload: Managers are surrounded with a pool of information. It is essential to control this information flow else the information is likely to be misinterpreted or forgotten or overlooked. As a result communication is less effective. 3. Inattention: At times we just not listen‚ but only hear. For example a traveler may pay attention to one “NO PARKING” sign‚ but if such sign is put all over the city‚ he no longer listens to it. Thus‚ repetitive
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Cost accounting deals with ascertainment ‚ allocation ‚ apportionment accounting aspect of costs.Management accounting deals with the effect and impact of costs on the business. 2. Cost accounting provides a base for management accounting whereas management accounting is derived from cost accounting and financial accounting. 3. Cost accounting does not include financial accounting ‚ tax planning and tax accounting. Management accounting includes financial and cost accounting ‚ tax accounting
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In food it is common to use Nisin at levels depending on the food type regulatory approval. Nisin cannot be produced chemically therefore it has to be synthesised using fermentation. During fermentation various stages of growth occur and as a result different conditions can occur during this fermentation process‚ eg pH‚ most organisms produce acid as they grow and therefore in the Lag phase ( a period of adptation for the cells to their new environment‚ new enzymes are synthesized) and in
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Define cost object and give three examples Cost object is defined as “Anything for which a separate measurement of cost is desired”. The term cost object and cost objective is synonymous. Cost object may refer to a process‚ a cost centre‚ and cost units. Cost unit is a quantitative unit of product or service in relation to which cost are ascertained. Cost centre is a location‚ function or item of equipment in respect of which cost are ascertained. 2. Define cost accumulation
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CRIPPLING COST Every spring high school students across the country celebrate over recently received acceptance letters to college. The thought of attending a top American institution is thrilling for young scholars‚ and with a letter of admission the dream is almost a reality. Parents are often less enthused since they know college in this country is far from cheap. For many families the cost of higher education is a large hurdle on the road to success. Over the last 30 years the cost of private
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Costs of Production July 2011 Topics to be Discussed Measuring Cost: Which Costs Matter? How do Cost Curves Behave? – Cost in the Short Run – Cost in the Long Run How to Minimize Cost? How to draw Implications for Business Strategy? Topics to be Discussed Production with Two Outputs: Economies of Scope Dynamic Changes in Costs: The Learning Curve Estimating and Predicting Cost Measuring Cost: Which Costs Matter? Accountants tend to take a retrospective view of firms’ costs‚ whereas
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Publichttp://pfr.sagepub.com/ Finance Review Public Subsidies to Stadiums: Do the Costs Outweigh the Benefits? Daraius Irani Public Finance Review 1997 25: 238 DOI: 10.1177/109114219702500205 The online version of this article can be found at: http://pfr.sagepub.com/content/25/2/238 Published by: http://www.sagepublications.com Additional services and information for Public Finance Review can be found at: Email Alerts: http://pfr.sagepub.com/cgi/alerts Subscriptions: http://pfr
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Name: Class: Cost Accounting Date: 02.12.2012 Quiz 5 1) Absorption costing: A) expenses marketing costs as cost of goods sold B) treats direct manufacturing costs as a period cost C) includes fixed manufacturing overhead as an inventoriable cost D) is required for internal reports to managers 2) Variable costing: A) expenses administrative costs as cost of goods sold B) treats direct manufacturing costs as a product cost C) includes fixed manufacturing overhead as an inventoriable
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Model of Service Quality 2 2-2 Variations of the Gaps Model Five Service Quality Gaps Variations of the Gaps Model Six Service Quality Gaps Variations of the Gaps Model 13 Service Quality Gaps (Gaps Model gone wild) Chapter Conceptual Framework of the Book: The Gaps Model of Service Quality The Customer Gap (Sometimes referred to as Gap 5) 2 The Provider Gaps: Gap 1 – The Listening Gap not knowing what customers expect Gap 2 – The Service Design and
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Cost allocation for indirect costs Cost Pool – Set of costs that are added together before being allocated to cost objects on some common basis Cost Driver/ Allocation base Cost Object Cost Driver Rate = Total Costs in Pool/ Total Quantity of Driver Where total quantity of driver = practical capacity of driver Cost of excess capacity = Cost Driver Rate * Excess capacity Predetermined overhead rate - cost per unit of the allocation base used to charge overhead to products. Predetermined
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