Topic 6: Management Accounting and Cost Case: Shelter Partnership a. My main learning outcomes from Topic 6 and the Case Study; 1) Firstly‚ I realize management accounting has much to offer. Somehow I can handle physics but not accounting. Now thanks to this course I can appreciate and make sense of it. The bit that really caught my attention was seeing how management accounting can be really useful for business planning‚ cost management‚ budgeting and performance measurement. It offers
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The environment offers essential resources‚ like nutrients that are recycled to keep soil fertile‚ biological services‚ such as providing the global pollination of crops that we depend on for food‚ and natural improvements for our quality of life‚ such as controlling the chemistry of the atmosphere. These resources are vital to the survival of the human race‚ and are often taken for granted. Humans are constantly using these products and amenities to assist in their lives and consequently creating
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In this world‚ we tend to make perceptual mistakes about other people it’s something we all tend to do. When we see someone‚ who looks strange to us we tend to make a quick judgment on that person. Like if we are walking down the sidewalk and you ignore everything around because you see it every day and suddenly a guy with a superhero costume comes running passed you‚ you’re going to make a generalization based on his physical traits. In which you conclude he isn’t all right in the mind and doesn’t
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Italy is one of the most beautiful countries to visit because of their ancient architecture‚ culture‚ food‚ and wine. This country has been known for its history which is one of the most important cultural and social developments in the Mediterranean area. The first group of people who lived in Italy were called the Etruscans. Then‚ the Greeks were the second group of people who inhabited this country before the Roman Empire started. The empire ruled over Italy for many centuries. After this‚ Italy
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Q: Is depreciation expense or depreciation cost is fixed cost or variable cost in nature? Fixed costs: Fixed costs are such costs that do not change with the change in activity level within the relevant range. Where relevant range can be defined in terms of time or activity level. Variable costs: Variable costs are such costs that change with the change in activity level . Coming to the question‚ depreciation expense or depreciation cost can either be fixed or variable and this depends on the
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Executive Summary Leonard v. PepsiCo This case involved a contract dispute between Mr. John Leonard and PepsiCo Inc. arising from the claims that an advertisement by PepsiCo for a Harrier jet aircraft in exchange for Pepsi points was a valid contract. The court found that the advertisement was not an offer and ruled for the defendant. In order for a contract to be valid there must be agreement‚ consideration‚ contractual capacity and the object must be lawful. In an agreement there must
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The project Retrofit Standardization Initiative tries to reach the goals that reduce energy consumption‚ and foster a more sustainable for residential buildings. In order to reach the goals‚ there are five energy efficiency measures are required to able to be implemented in hundreds of thousands of similar small homes. Also‚ these five measures need to minimizes the cost and time. Buildings have a life span that can lasts for 50 to 100 years. So the task is that the measures that design for the
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build the business will be conservative. Lowe’s capital budgeting process includes review of (1) Merchandising Strategy (2) Merchandise Selection (3) Marketing and Advertising (4) Real Estate Approach (5) New Stores and (6) New Formants. Reviewing how the company would approach 2009 Lowe’s analyzed the internal factors that impacted the success of the company (Lowe’s‚ Inc‚ 2008.) Lowe’s had to develop a profitable project (Keown‚ et al.)‚ to create new business and attract sales and new business
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How Does Communication Affect Teamwork? What is the true definition of teamwork? According to www.eubios.info‚ “Teamwork is the coming together of an alliance or group of minds to collaborate‚ co-operatively work on a project‚ solve problems‚ negotiate‚ resolve conflict etc. What is the definition of communication? Communication is a process by which information is exchanged between individuals through a common system of symbols‚ signs‚ or behavior (http://www.m-w.com). In the world today
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PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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