Chapter 2 Cost Terms‚ Concepts‚ and Classifications Exercise 2-2 (15 minutes) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10 . 11 . 12 . 13 . 14 . 15 . Depreciation on salespersons’ cars ................ Rent on equipment used in the factory .......... Lubricants used for machine maintenance ..... Salaries of personnel who work in the finished goods warehouse.............................. Soap and paper towels used by factory workers at the end of a shift ...................... Factory supervisors’ salaries
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According to an economist the idea of development is a situation whereby there is an increase in a nations GNP and GDP‚ leading to an increase in growth .but to a sociologist this is a surface definition as development or rather a country is regarded as developed when such increase is affecting the living condition of its people even to the smallest group in the society. Where we don’t only calculate numbers and figures and structures but can see the positive change of things in the life of the people
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Content 1 Introduction 1 1.Task one 2 The models and concepts affecting the pricing decisions taken by organisations‚ critically reflecting upon their usefulness 2 2‚ Task two 6 The role of standard costing and variance analysis in management accounting and a critically discussion of the value and limitations of variance analysis as a means of identifying key areas which have contributed to the overall profit figure. 6 3‚ The advantages and disadvantages of introducing an Activity Based Costing
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$500‚000 and is known by both Brickhouse and Boudreau to be a fairly "soft" amount. Identify possible causes of action. -Brickhouse is acting unethically. His action serves only his self-interest‚ self review and has no clear basis in proper accounting procedures‚ so ignoring the familiarity with brickhouse ‚the controller‚ Louise Boudreau‚ should not manipulate net income in view of any compensation plan the company may have.He must comply with relevant laws and regulations and not assist others
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Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does
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Microfinance Banking in Nigeria: Problems and Prospects • [pic]Abstract • [pic]Reference • [pic]Full-Text PDF • [pic]Full-Text HTML Acha Ikechukwu A. Department of Banking and Finance‚ University of Uyo‚ AkwaIbom State‚ Nigeria Correspondence to: Acha Ikechukwu A. ‚ Department of Banking and Finance‚ University of Uyo‚ AkwaIbom State‚ Nigeria. |Email: |[pic] | Copyright © 2012 Scientific & Academic Publishing. All Rights Reserved
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to suppliers. Liability (D) Bonds payable. Liability (E) Amount earned from selling a product. Revenue (F) Cost of advertising. Expense Part 2 Ex 1-8 (A) An expression about whether financial statements conform with generally accepted accounting principles. – 8 Auditors opinion (B) A business that raised money by issuing shares of stock. – 1 Cooperation (C) The portion of stockholders’ equity that results from receiving cash from investors. – 6 Common Stock. (D) Obligations to suppliers
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local market area residents. The Company EB is incorporated in Eldoret Town‚ its postal address being The mobile number being It is owned and managed by its owner-Eric Kipchoror Kiplagat. Mr.Eric Kipchoror Kiplagat has extensive experience in accounting‚ sales‚ marketing‚ and management and is the Sales Executive of Sergoit Golf & Wildlife. The company intends to hire two full-time pastry bakers and six waitresses to handle customer service and day to day operations. Products and Services
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