Systems with the Use of Information Technology and its Effects on the Financial Statements Reliability: An Applied Study on Commercial Banks Ali Abdul Ghani Al-Laith Technical College of Management‚ Baghdad‚ Iraq [Abstract] The study aimed at identifying the importance of the internal control and its adaptation with the development of the use of information technology and its effect on the reliability of financial statements of commercial banks. The population of the study consisted of all
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Accounting 2082 Managerial Accounting Exam 1 Sample Exam Questions Printed Name: Date: I certify that I have neither given nor received assistance on this exam‚ in accordance with the University of Cincinnati Student Code of Conduct. Signature: Instructions: Circle your answers for the multiple choice questions on the exam. Fill out the scantron sheet carefully‚ using a #2 pencil. Your name (last‚ then first) and M number must be on the scantron sheet. Type of
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Was the existing system adequate in the past? Why or why not? Why is it no longer adequate? The existing system was adequate in the past due to heavy reliance on direct labor hours. The ETO served as a central cost center‚ and transferred the costs to other divisions at direct costs plus allocated burden. Being in the late 1970s and early 1980s‚ technology testing of components required fewer cycles‚ and less complicated structures. Hence‚ such testing on products could be carried out by direct
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Please forward the following two questions to the entire batch as directed by Sengupta sir. AS 2 Determine the cost of inventory of M/s XYZ International Limited involved in the import and trading of mobile phones as at March 31‚ 2011 in accordance with Accounting Standard – 2‚ Valuation of Inventories‚ from the following data (5000 phones) :- Purchase cost of phones – Rs 50‚000 Custom duty on Import – Rs 30‚000 Port clearing charges – Rs 10‚000 Carriage inwards – Rs 15‚000 Salary to
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5 No. 2 2009 The Value Relevance of Fixed Asset Revaluation Reserves in International Accounting Gyung Paik Brigham Young University‚ Provo‚ Utah‚ USA [Abstract] The Securities and Exchange Commission (SEC) of the U.S. has recently proposed that all U.S. firms be required to issue financial statements in accordance with IFRS by 2014. Under IFRS‚ the rules for measurement of fixed assets are presented in IAS 16‚ which allows firms to choose either the cost model or the revaluation model
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RELEVANCE LOST (DISCUSSIE EN ONTWIKKELINGEN) Relevance lost is a title of the book written by Johnson and Kaplan‚ where they were complaining that management accounting techniques emerged centuries ago‚ are still used‚ but they no longer relevant in today’s highly competitive environment. CHAPTER 5 - CONTROLLING THE MULTI DIVISIONAL ORGANIZATION 64. What are the two major obstacles to the success of the integrated firm? 1. Complexity - or the bureaucratic paralysis caused by complexity
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Contract costing is a system of job costing that is applied to relatively large cost units‚ which normally take a considerable length of time to complete. Building and construc¬tion work‚ civil engineering and shipbuilding are some examples of industries where large contract work is undertaken‚ and where contract costing is appropriate. Contract Costing deals with the books of the Contractor only‚ i.e. the cost of the work and measuring the profit or loss on the contract. Contract costing is
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managerial compensation. 2. In general‚ there is a direct relationship between the quality of the information provided to managers and the quality of decisions made using that information. True False 3. An operating unit of an organization is called a profit center if it is responsible: only for revenues. for investments in assets. for costs and revenues. only for costs. 4. Properly designed management control systems have both
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Chapter 9—Break-Even Point and Cost-Volume-Profit Analysis MULTIPLE CHOICE 1. CVP analysis requires costs to be categorized as a. | either fixed or variable. | b. | direct or indirect. | c. | product or period. | d. | standard or actual. | ANS: A PTS: 1 DIF: Easy OBJ: 9-1 NAT: AACSB: Reflective Thinking LOC: AICPA Functional Competencies: Decision Modeling 2. With respect to fixed costs‚ CVP analysis assumes total fixed costs a. | per unit remain constant
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Framework Zhang Yi Fei and Che Ruhana Isa becoming more and more popular [3-7] ABC aims to provide accurate costing information to managers to allocate activity costs to products and services by applying cost drivers [8]. Academics who advocate ABC‚ such as‚ Cooper and Kaplan [9]‚ and Swenson [10] argue that it provides more accurate cost data needed to make appropriate strategic decisions about product mix‚ sourcing‚ pricing‚ process improvement‚ and evaluation of business process performance. These
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