DETERMINING A DEPRECIATION POLICY [IFRS for SME’s: Section 17] IFRS for SMEs defines depreciation as the systematic allocation depreciable amount of an asset over its useful life‚ Depreciation is often described as the amount by which the economic value embedded in the asset diminishes through its use‚ namely‚ the estimated cost of using the asset in the process of generating income or carrying out the operating activities of the entity. Many practicing applies the depreciation based on the
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Q: Is depreciation expense or depreciation cost is fixed cost or variable cost in nature? Fixed costs: Fixed costs are such costs that do not change with the change in activity level within the relevant range. Where relevant range can be defined in terms of time or activity level. Variable costs: Variable costs are such costs that change with the change in activity level . Coming to the question‚ depreciation expense or depreciation cost can either be fixed or variable and this depends on the
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TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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Disaster Recovery Plan Disaster Recovery Plan Provide an overview of the organization that will be delivered to senior management‚ defining the business goals and objectives and the size‚ layout‚ and structure of the organization. TechWidgets Inc.‚ is an e-commerce company that provides merchandise to its customers through a web store. The core infrastructure is made up of 10 web servers in a single cluster to handle browsing requests‚ 5 servers in the web store clusters to hand transactions
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management concluded the large fixed cost absorbed sale figure. First it is important to understand the standard costing system implemented in Rubber group. Standard costing assigns quantity and price standards to each component of variable and fixed costs in calculating the total cost. In the case of NASA‚ the system uses standard purchasing price (input cost) and standard inputs usage in place for variable costs‚ and standard spending price (input cost) and standard
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Ronald Coase noted‚“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example‚ the opportunity set for this Friday night includes the movies‚ a concert‚ staying home and studying‚ staying home and watching television‚ inviting friends over‚ and so forth. The opportunity cost of taking job A included the forgone salary of $102‚000 plus the $5‚000 of intangibles from job B. Opportunity cost is the sacrifice of
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primary care sector (Mental Health Drug and Alcohol Principal Committee‚ 2013). One particular mental health service is recovery-focused care - governments in many developed countries have suggested that mental health service systems should concentrate on the concept of recovery-focused practice (Cavanaugh‚ 2014). This essay will provide an overview and the rationale of the recovery-focused care approach for schizophrenia (a form of psychosis which needs more research and treatment (Torgalsbøen & Rund
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S. Bureau of Labor study showed that 93 percent of companies that lose a significant amount of data fold within 5 years. Another survey found that only 60% of businesses have a "credible disaster recovery plan that is up-to-date‚ tested‚ and executable". But just any plan won’t do. "A business recovery plan is a live document‚ it need to change‚ evolve‚ and mature‚" says Joe Richardson‚ executive vice-president of operations and administration at CIT. In this paper‚ we will explore the pros and
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1. Disaster Recovery Plan Due in Week Three: For your selected scenario‚ describe the key elements of the Disaster Recovery Plan to be used in case of a disaster and the plan for testing the DRP. 1.1. Risk Assessment 1.1.1. Critical business processes List the mission-critical business systems and services that must be protected by the DRP. Online services must be protected to ensure that both employees and customers will be able to access the programs and information to continue running the
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A disaster recovery plan is an HIPPA security standard and its objectives are to establish policies and procedures for responding to an emergency (vandalism‚ system failure‚ and natural disaster) that may damage or interrupt systems that contain PHI. In brief‚ the Health Insurance Portability and Accountability Act‚ commonly known as HIPAA‚ was enacted on August 21‚ 1996‚ by the United States Congress and signed President Bill Clinton. HIPPA regulates national standards to protect individuals’ health
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