1.SHOULD THE $100‚000 THAT WAS SPENT TO REHABILITATE THE PLANT BE INCLUDED IN THE ANALYSIS? EXPLAIN. The $100‚000 is a cost already occurred in the past and it was decided on a stand-alone basis. The plant would have been rehabilitated regardless of what would happen with the project‚ just to protect the company’s property. This sunk cost should no way be included in the analysis. Of course the case would have been different if the plant hadn’t been rehabilitated and its rehabilitation was decided
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ACC1130 MODULE TITLE Introduction to Managerial Finance Coursework 1 STUDENT NAME ………………………….. STUDENT NO: …………………………... SEMINAR TUTOR …………………………... Introduction Accounting is concerned with providing both financial and non-financial information that will help decision makers to make good decisions. An understanding of accounting therefore requires an understanding of the decision making process and an awareness of the users of accounting information. The major purposes
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Discussion Questions 1‚ 3‚ 5‚ 7‚ 9 Pages 28-29 Week/Session 1 Questions for Review 1. What are the four basic activities that comprise the management process? How are they related to one another? " The four basic activities that comprise the management process are as follows: Planning and Decision Making‚ Organizing‚ Leading‚ and Controlling. Managers engage in these activities to combine human‚ financial‚ physical‚ and information resources efficiently (using resources wisely and in a cost-effective
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Question 1 Thoery Match each key term with its most correct definition. 1. corporation The ability to make profits on financial securities because of having knowledge not available to the public. 2. dividend tax credit An agreement of partners specifying the ownership interest of a company. 3. articles of partnership A form of organization that represents single person ownership and offers the advantages of simplicity of decision making and low organizational
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discuss principles of and similarities and differences between financial and management accounting and to highlight how management accounting could be used to improve TVD’s performance. In particular‚ one of the management accounting techniques‚ benchmarking‚ is used as an example of how MA can help a business to run successfully. Today‚ accounting is an important aspect of business. The primary idea is to present financial and non-financial information so that the company can make good decisions and
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new I-Pod Docking Station‚ and is considering whether it is viable to produce the product as a replacement for its existing product whose popularity has decreased in the last year. The company publishes its financial accounts at 31st December 2012‚ and today is 1st January 2012. As the financial manager of the business you have been provided with the following information: 1. The machinery required to produce the station will cost £100million today. The project is likely to become obsolete after
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"TQM is a management approach for an organization‚ centered on quality‚ based on the participation of all its members and aiming at long-term success through customer satisfaction‚ and benefits to all members of the organization and to society." A Comprehensive Definition: TQM Total Quality Management is the management of total quality. We know that management consists of planning‚ organizing‚ directing‚ control‚ and assurance. Then‚ one has to define "total quality". Total quality is called
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ELEMENTS OF THE BUSINESS Business elements include structural and infrastructural elements. Structural elements are tangible resources‚ such as buildings‚ equipment‚ and computer systems. These resources typically require large capital investments that are difficult to reverse. Because of their cost and inflexibility‚ such elements arc changed infrequently and only after much deliberation. In contrast‚ infrastructural elements are the people‚ policies‚ decision rules‚ and organizational structure
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form a single set of size three‚ written {2‚4‚6}. an element‚ or member‚ of a set is any one of the distinct objects that make up that set A number‚ letter‚ point‚ line‚ or any other object contained in a set. There are two ways of describing‚ or specifying the members of‚ a set. One way is by intensional definition‚ using a rule or semantic description. See this example: A is the set whose members are the first four positive integers. B is the set of colors of the French
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Feb 2013 Lesson 2.1: Financial Management: Cost Estimation Budget Terms Each of these terms has an official definition in budget execution. TERM DEFINITION Budget Authority "Budget Authority" is the authority granted by appropriations law to enter into obligations that will result in immediate or future outlays. Commitment A "commitment" is the administrative reservation of funds‚ usually by the local comptroller‚ in anticipation of a future obligation. A commitment is the response to a request
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