INTERNATIONAL B-SCHOOL SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000
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Historical Monuments When thinking about architecture‚ many visual images come to mind. The works of many are seen everywhere we go‚ from the average home to a New York skyscraper. As these buildings are fairly common to most of us‚ we forget to incorporate the work of our prehistoric man that gave us the foundation of early architecture. Pre-historic monuments provide us with numerous amounts information about our past and how life existed in these prehistoric times. When comparing two great
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23‚ 2012 Article Summary: Strategic Cost Management: The Value Chain Perspective Authors of this article do not believe the concept of “value chain” has been written about enough or clearly enough and therefore attempt to state the importance of the value chain on strategy from a managerial accounting perspective. Michael Porter first wrote about this in 1985. [ (Porter‚ 1985) ] They believe that any organization must understand the entire value chain for the entire industry in order to
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My Most Memorable Academic Experiences: High School and College I am looking forward to describing my most memorable high school and college experiences. I would really love for my teachers to appreciate me for all the hard work I’ve done. For those people that didn’t know about my ambition and what it really meant to sacrifice‚ it meant a lot to my family. I’ve gotten involved in school activities‚ community service‚ and school events and a lot more. I felt that once I graduated from school I
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On a daily basis‚ humans are surrounded by noise and unable to avoid its ubiquitous presence. This poses a major problem for teenage garage bands‚ whose parental units do not approve of ear piercing feedback and novice percussionists. Although there is no guaranteed solution to the cacophony‚ sound absorbing material acts as a “noise blanket” to reduce sound to a more tolerable level. The objective of our experiment is to determine if sound absorption by foam and related materials changes with the
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Hypothesis If different age groups are placed in a room for several minutes‚ then the older they are the more time they will think has passed by because time perception is affected by age. Purpose The purpose of this project is to find out if time perception changes with age. Materials ● 3 people ( 1 8 yr. old‚ 1 33 yr. old‚ 1 57 yr.old) ● empty room ● stop watch Procedure Gather a group of subjects‚ ages 8 to 57. Simply tell the people you are conducting an
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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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things in a time where rule and order was restricted to a geographical location. Thus‚ the exchange of information pertaining to potential trade deals was just as vital as the trade itself. Without that communication of pertinent knowledge such as cost‚ quantity and general negotiations‚ trade would have likely been restricted to individuals within a community at best. With these communications between people of different areas‚ as well as the manpower necessary to deliver the products‚ something
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Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
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The Meaning Of ‘True and Fair’ The expression ‘true and fair’ is one of the most common expressions used in the financial industry today. It is used to describe the required standard of financial reporting but equally to justify decisions‚ which require a certain amount of arbitrary judgement making. It is the principle that is used in guidelines ranging from auditing and financial standards to the company law acts. The term originated … The aim of the financial statements
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