6&7 – Variance analysis Variance analysis: Reason for variance: 1.Price/rate/spending variances: Standard is out of date; Standard set without due care; Efficient or inefficient buying (e.g.‚ discounts); Buying different quality material from standard; Buying materials from a non‑usual source due to urgency; Utilising different labour from standard; Price changes due to economic conditions; scarcity of supplies; Choosing to incur additional discretionary fixed costs; More (or less) overtime hours
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MANAGEMENT ACCOUNTING Information for Decision-Making and Strategy Execution SIXTH EDITION Anthony A. Atkinson University of Waterloo Robert S. Kaplan Harvard University Ella Mae Matsumura University of Wisconsin–Madison S. Mark Young University of Southern California Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City S~ Paulo Sydney Hong Kong Seoul Singapore
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TEST BANK CHAPTER 1 Intercorporate Investments: An Overview MULTIPLE CHOICE Use the following information on a company’s investments in equity securities to answer questions 1- 4 below. The company’s accounting year ends December 31. | |Date of acquisition|Cost |Fair value |Date sold |Selling price | |Investment | | |12/31/10 | |
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Foreign Policy- policy that involves choice taking about relations with the rest of the world. The pres. Is the chief initiator of U.S. foreign policy United Nations- Created in 1945& currently including 192 member nations‚ with central peacekeeping mission and programs in areas including economic development& health‚ education‚ & welfare. The seat of real power in the UN is the Security Council. North Atlantic Treaty Organization- a regional organization that was created in 1949 by
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2014 Fall A Core Schedule ‐ DRAFT 8:30‐ 10:00 10:20‐ 11:50 1:15‐ 2:45 3:00‐ 4:30 Week 1 8:30‐ 10:00 Section 1 & 2 3 & 4 3 & 4 1 & 2 MONDAY 9/1 STATS MANEC Section 1 & 2 3 & 4 3 & 4 1 & 2 MONDAY 9/8 STATS MANEC 10:20‐ 11:50 Section 1 & 2 3 & 4 3 1 1:15‐ 2:45 2 3:00‐ 4:30 8:30‐ 10:00 4 TUESDAY 9/2 STATS LIT 4 TUESDAY 9/9 STATS LIT 10:20‐ 11:50 1:15‐ 2:45 3:00‐ 4:30 8:30‐ 10:00 Section 1 & 2 3 & 4
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Management Accounting Contents 1. Introduction 3 2. Traditional costing system and its limitations 3 3. Activity-Based Costing 4 4. Case Question 4 5. Analysis of the different result between traditional costing system and ABC system
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comprehensive analysis of financial accounting topics involved in preparing financial statements and in external reporting. Students may receive credit for only one of the following courses: ACCT 310 or BMGT 310. Course Goals/Objectives This course should help you develop the ability to apply GAAP to a variety of complex accounting and financial reporting situations. The specific goals of this course are to: • provide a more extensive understanding of financial accounting principles and procedures
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E1-5 Cougar’s Accounting Services provides low – cost tax advice and preparation to those with financial need. At the end of the current period‚ the company reports the following amounts: Asset – 19000; Liabilities – 15000; Revenues – 28000; Expenses = 33000 Required: 1. Calculate net loss. 2. Calculate stockholders’ equity at the end of the period. Net loss *Revenues – Expenses = (5000) Stockholders * Assets – Liabilities = 4000 E1-6 Cash 5400 Salaries expense 2200 Accounts payable 3400
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define accounting. What are the three main characteristics of accounting? Is accounting static or dynamic? Accounting collects‚ analyzes‚ measures and records financial information about an organization and reports that information to stakeholders and decision makers. Accounting has 3 essential characteristics. Accounting is the (1) identification‚ measurement‚ and communication of financial information about economic entities to interested persons. Like social sciences‚ accounting is largely
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between accrual-basis accounting and cash-basis accounting? The variation between accrual basis accounting and cash basis accounting‚ is how cash is documented. Cash basis is an accounting basis that is used when expenses and revenue are paid out or received. This is when the transaction will be recorded. In accrual-basis accounting‚ transactions are recorded when they actually happen. Payment does not need to be made for the transaction to be recognized in accrual-basis accounting unlike cash-basis
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