The fixed asset register is an accounting method used by businesses to identify the major resources they hold. Lindsey Lester explains what it is and how it should be used The reporting of fixed assets should comply with Financial Reporting Standard 15 (FRS 15). The aim of this reporting standard is to ensure that tangible fixed assets are accounted for on a consistent basis. It sets out the principles in making a decision as to whether a tangible fixed asset is stated at cost on a financial statement
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‘Fixed species concept’ states that the creator created each species for the specific purpose. Carolus Linnaeus was the major proponent of the fixed species concept. The fixed species concept originated from the belief that the Earth and the life on it are around six hundred thousand years old. The basis of the concept is the organismal adaptations. It was believed that the creator designed every species for a particular use. Plato’s idealism suggests that organisms are already accustomed to their
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Cost Management or Cost Control In broad sense‚ both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations‚ many times‚ one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits Making
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FRS 15 ‘Tangible fixed assets‘ FRS 15 was issued in February 1999 and sets out the principles of accounting for tangible fixed assets‚ with the exception of investment properties. The objective of the FRS is to ensure that tangible fixed assets are accounted for on a consistent basis. Fixed assets are held in our company for the profit of their use not from their resale. Tangible fixed assets should be capitalized when they are ready for use‚ which means when its physical completion is complete
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CONFIDENTIAL AC/OCT 2010/ACC116/165/211 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE COURSE CODE EXAMINATION TIME INTRODUCTION TO COST ACCOUNTING / COST ACCOUNTING ACC116/165/211 OCTOBER 2010 3 HOURS INSTRUCTIONS TO CANDIDATES 1. 2. 3. This question paper consists of five (5) questions. Answer ALL questions in the Answer Booklet. Start each answer on a new page. Do not bring any material into the examination room unless permission is given by the invigilator. Please check to
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CHAPTER 14: PROCESS COSTING AND THE COST ACCOUNTING CYCLE Multiple Choice c 1. ABC Company made the following journal entry. Work in Process Inventory $200‚000 Direct Labor $188‚000 Direct Labor Rate Variance 12‚000 From this entry we can tell that ABC uses a. job-order costing. b. process costing. c. standard costing. d. normal costing. d 2. CDE Company
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analysis of variance (MANOVA) is a generalized form of univariate analysis of variance (ANOVA). It is used when there are two or more dependent variables. It helps to answer : 1. do changes in the independent variable(s) have significant effects on the dependent variables; 2. what are the interactions among the dependent variables and 3. among the independent variables.[1] Where sums of squares appear in univariate analysis of variance‚ in multivariate analysis of variance certain positive-definite matrices appear
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Intro Variable stars are important in astronomy because they provide information on the properties of the stars. Variable stars vary in brightness over time and have periods ranging from a couple hours to hundreds of days. Moreover‚ pulsating stars are variable stars and have two types of pulsating stars‚ such as RR Lyrae and Cepheid. Additionally‚ the simulators in this lab gives individuals a visual model of how variable stars are determined and measured. Therefore‚ the simulators will give individuals
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St a t em en t An a lysis a n d Cost Redu ct ion P r ogr a m AT TATA MOTORS LIMITED‚ PUNE Submitted To Pune University In Partial Fulfillment of the Requirement of Master of Business Administration Submitted By Mr. Chetan G. Aher M.B.A Under the Guidance of Prof. Mr. Mahesh Halale THROUGH THE DIRECTOR OF Visahwakarma Institute of Management 2005 - 2007 www.final-yearproject.com | www.finalyearthesis.com The Financial Statement Analysis and Cost Reduction Program. Acknowledgement
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Practice Test Part I - Multiple Choice 1. Suppose that the scatterplot of (log x‚ log y) shows a strong positive correlation Which of the following must be true? I. The variables x and y also have a correlation close to 1. II. A scatterplot of (x‚ y) shows a strong nonlinear pattern. III. The residual plot of the variables x and y shows a random pattern. (a) I only (b) II only (c) III only (d) I and II (e) I‚ II‚ and III 2. What is the purpose of residual plots? (a) To determine
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