“Financial statements are like fine perfume; to be sniffed but not swallowed.” - Abraham Briloff (Professor Emeritus of CUNY Baruch) ACCOUNTING: Accounting is defined by the American Institute of Certified Public Accountants (AICPA) as "the art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in part at least‚ of financial character‚ and interpreting the results thereof." ACCOUNTING AND ITS ROLE IN SOCIETY:
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CHAPTER 8 FLEXIBLE BUDGETS‚ OVERHEAD COST VARIANCES‚ AND MANAGEMENT CONTROL 8-1 Effective planning of variable overhead costs involves: 1. Planning to undertake only those variable overhead activities that add value for customers using the product or service‚ and 2. Planning to use the drivers of costs in those activities in the most efficient way. 8-2 At the start of an accounting period‚ a larger percentage of fixed overhead costs are locked-in than is the case with variable overhead
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HW 5a Multiple Choice Identify the choice that best completes the statement or answers the question. __B__ 1. Although modeling provides valuable insight to decision makers‚ decision making remains a difficult task. Which of the following is not a primary cause for this difficulty discussed in the Decision Analysis chapter? a. | Uncertainty regarding the future. | b. | Models provide decisions for the decision maker. | c. | Conflicting values. | d. | Conflicting objectives. |
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1. What are the strengths and weaknesses of the BASES I (concept test) and BASES II (concept + taste test)? Both tests measure market potential to a degree. The results can be used to gauge level of awareness and possible usage of a product as well as to understand customer’s perception of the product/brand. These results can be used to potential sales and marketability of the product. However‚ the BASES I test does not utilize any actual products (taste testing) to ascertain customer reaction
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ethical decisions‚ decision-maker has to evaluate the results for different choice. Ethical utilitarianism is one of major types of teleological theories. It means that an action is ethical correct if the consequences of the action are more favorable than unfavorable to most people (Foot‚ 1985). In this case‚ the hostile take-over on Foster’s has a widespread effect on entire Foster organization‚ both external and internal stakeholders: * Shareholders: The shareholders of Foster will acquire higher
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OVERVIEW The best formulated and implemented strategies become obsolete as a firm’s external and internal environments change. It is essential‚ therefore‚ that strategists systematically review‚ evaluate‚ and control the execution of strategies. Chapter 9 presents a framework that can guide managers’ efforts to evaluate strategic-management activities‚ to make sure they are working‚ and to make timely changes. Computer information systems being used to evaluate strategies are discussed. Guidelines
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NASA achieved a favorable variance in sales‚ but not in profits. Therefore‚ one might start wondering if NASA experienced a problem in cost control. Among all the variances listed above‚ we can see that the production volume variance is the most unfavorable. Next our group conducted a fixed overhead variance analysis. Based on our calculation‚ the volume variance calculated in Exhibit 2 is accurate. The spending variance is positive‚ which is a good thing. However‚ the unfavorable production volume
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MMCJJJSDVJSDHVHSJHVSDDFGHJKJHDHSUDHFGHWFIUGUYWGFUYGWYFGY8WGFY8GW8YEFG8WGF8GWE7F78GWE87FG8W7GF87GWE78FGW78EGF87WEG78FGWEGF87WGEF78GWE87FG87WEGF78WEGF87GWEF WEFWEFWF WFWFW EFWFWF F W F WF WFWF ad·verse [ad-vurs‚ ad-vurs] Show IPA adjective 1. unfavorable or antagonistic in purpose or effect: adverse criticism. 2. opposing one’s interests or desire: adverse circumstances. 3. being or acting in a contrary direction; opposed or opposing: adverse winds. 4. opposite; confronting: the adverse
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07th February‚ 2014 Fred Westen CEO Hathway Jones Philadelphia‚ USA Dear Mr Westen‚ This is with reference to our discussion about the current issues you are facing. I have thoroughly analysed the situation as per our discussion on the 4th of February‚ 2014. Based on a critical analysis of the options available‚ I have presented my recommendation. I hope you find the report to be satisfactory. You may contact me for further discussion and clarification on the same. Sincerely‚ XYZ
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EntertainmentNow.com Prepared for Dr. Lucian Zelazny Department of Accounting McCoy College of Business 601 University Drive San Marcos‚ Texas 78666 Prepared by Veronica Piña Rupinder Singh Ashley Vollmer April 23‚ 2013 EntertainmentNow.com Case Overview EntertainmentNow.com is considered one of the world’s leading Internet retailers of entertainment products that sells an array of books‚ music‚ videos‚ and DVD’s‚ toys‚ and small electronics on the company’s International website
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