WINDOW DRESSING Window dressing is presenting company accounts in a manner which enhances the financial position of the company. It is a form of creative accounting involving the manipulation of figures to flatter the financial position of the business. It is also defined as: ‘A form of accounting‚ which while complying with all the regulations‚ nevertheless‚ gives a biased impression of the company’s performance.’ Though it is not illegal‚ it is considered by many financial pundits asunethical
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A figure of cost of goods sold reflecting the cost of the product or good that a company sells to generate revenue‚ appearing on the income statement‚ as an expense. Also‚ referred to as "cost of sales". It is essentially a cost of doing business‚ such as the amount paid to purchase raw materials in order to manufacture them into finished goods. For example‚ if a $10 widget costs $6 to make‚ then the cost of goods sold is $6 per widget. That is‚ the cost of goods sold is equal to the beginning
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SCM in Maruti Suzuki India Limited SCM in Maruti Suzuki India Limited Maruti Suzuki India Limited (MSIL) has very efficient process with its suppliers to develop new products‚ achieve high localization levels‚ and reduce cost. It has a strong base of over 250 suppliers including 16 JV companies where the company has strategic equity stake. More than 3/4th of the company ’s suppliers are located in the 100 kms of radius from its manufacturing facilities. Most of the JVs are situated in the Suppliers
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FINANCIAL STATEMENT ANALYSIS ACCT 7815 MID-TERM EXAM SPRING 2015 NAME: STUDENT ID: THERE ARE 30 MULTIPLE CHOICES QUESTIONS WITH EACH QUESTION WORTH 3 POINTS (TOTAL POINTS: 90) 1. Which of the following ratios is not generally considered to be helpful in assessing short-term liquidity? A. Acid-test ratio B. Current ratio C. Days’ to collect receivables D. Total asset turnover 2. Which of the following statements is incorrect? A. Current assets are expected to be converted
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History of Fourth Directive Company law directives are published under the authority of the Treaty of Rome (Article 54(3) (g)). The council and the commission want to co-ordinate safeguard to protect the interest of member state and others‚ in such a way that these safeguard are become similar across the EU. The objective of EU is to convey a common market that allows freedom of capital‚ goods‚ persons and services between member countries. EU adopted so many directives which are dealing with accounting
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Contents Page Introduction………….……………………………… 1 Discussion Part (A)….……………………….………2/ Discussion Part (B)…...………………….……….......... Conclusion....................................................................... Bibliography.................................................................... Appendices....................................................................... Introduction According to the Chartered Institute of Management Accountants (CIMA)
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CASE: MANZANA INSURANCE: FRUITVALE BRANCH (ABRIDGED) 1. Summary (Fruitvale branch situation- question 1): This case was raised by Tom Jacobs‚ Manzana’s senior vice president to John Lombard‚ Fruitvale branch manager regarding a lot of complaints from agent because their turnaround time. Bill Pippin‚ assistant manager‚ was assigned to solve the problem during his boss‚ John Lombard‚ was in vacation. They are losing almost half of their renewal business every year. As the manager’s view‚ they
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resource . Response time: Time it takes from when a request was submitted until the first response is produced. 5.2 Some fundamental scheduling Algorithms: First Come First Served: First Come‚ First Served (FCFS)‚ is the simplest scheduling algorithm‚ FIFO simply queues processes in the order that they arrive in the ready queue. Since context switches only occur upon process termination‚ and no reorganization of the process queue is required‚ scheduling overhead is minimal. Throughput can be low
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(Yes. Kaplan would experience a $135 decline in the net realizable value of Accounts Receivable.) 7. The inventory cost flow assumption in which the oldest costs incurred become part of cost of goods sold when units are sold is FIFO. (YES. First in First Out (FIFO) is the inventory cost flow assumption in which the oldest costs incurred become part of cost of goods sold when units are
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CHAPTER 18 SPOILAGE‚ REWORK‚ AND SCRAP 18-1 Managers have found that improved quality and intolerance for high spoilage have lowered overall costs and increased sales. 18-2 Spoilage—units of production that do not meet the standards required by customers for good units and that are discarded or sold at reduced prices. Rework—units of production that do not meet the specifications required by customers but which are subsequently repaired and sold as good finished units. Scrap—residual material
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