Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
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What Is A Joint Venture Joint venture is a collaboration of two or more businesses to undertake a common economic activity. A joint venture then is a partnership‚ a contract between to parties‚ or a corporation. However‚ the difference between business partnership and a joint venture is that a former may be established before a company is formed while the latter is a collaboration of 2 or more existing entities forming a tie. It must be cleared though that a joint venture is still a partnership
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new paradigm has been emerged in the present industrial sector where a manufacturing organization uses a single process to produce more than one product. This paradigm adds complexity in the simultaneous production of more than one product from a joint process. Their determination at the cost of such products‚ individually‚ hence posses a difficult task to the cost accountant especially because they are of such varied nature characterized by many varieties. Despite difficulty it is possibly essential
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Hip joint discomfort can arise from structures inside the joint or structures surrounding the hip joint. It joins legs with torso of the body‚ the thigh bone femur swivels in the joint made of pelvic bones‚ this constitution is like a socket and comprises area and really much less fluid in it. This socket like structure is known as acetabulum. Any damage or infection fills this area with fluid or blood which restricts the free motion of the head of the femur causing soreness‚ stiffness‚ and even
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ASSIGNMENT 2016 Hinge Joint- Knee The knee joint is the largest joint in the body‚ consisting of 4 bones and an extensive network of ligaments and muscles. What is the scientific name of this joint? The knee joints that make up the knee are split into three parts. The femur meets the tibia to form the main knee joint. This joint has an inner called medial and an outer called lateral compartment. The patella joins the femur to form a third joint‚ called the patellofemoral joint. The patella protects
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extended family also has some disadvantages just like any other thing. For instance‚ one’s privacy may be denied in some cases because of the large number of people. There are some things you will want to do alone or sometimes one may want to think or spend time alone in privacy all of which is very hard to do in the extended family especially a very large one. There is also a kind of monarchy in extended family. A decision made by the over head which is usually the grandfather cannot be challenged
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A joint venture is a contractual agreement joining together two or more businesses in which each agrees to share profit‚ loss‚ and control in a specific enterprise. While a joint venture might seem similar to a partnership‚ there is one key difference that sets them apart. Members of a partnership have joined together to run a “business in common‚” while members of a joint venture have joined together for a particular purpose or project (Ward 1). The joint venture in our case is between Hangzhou
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Lessons for Joint Ventures in China. Danone and Wahaha Case Study. 1 Lessons for Joint Ventures in China Danone and Wahaha Case Study 8/17/2012 MSc International Management programme Management across Cultures Prague College Lessons for Joint Ventures in China. Danone and Wahaha Case Study. 2 Contents 1. 2. 3. Objectives and scope. ........................................................................................................................... 3 Joint Venture: definition
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outcome of divorce negotiation is joint custody arrangements. What do you think are the pros and cons of such arrangements? Are they confusing‚ or do children manage to get the best (and maybe the worst) or both worlds? Thompson (1994) claims that “joint custody presents the possibility that each family member can ‘win’ in post-divorce life” (textbook‚ page 452). In opposition to single-parent custody scenarios‚ both parents and children have the opportunity‚ in joint custody situations‚ to benefit
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leading suppliers of telecom solutions in Malaysia. The case involves a possible joint venture with Sakari‚ the leading manufacturer in Finland of mobile phones and telecom systems. There is a large potential in the future development of telecom facilities in Malaysia and the two enterprises have discussed a joint venture. Nora is a leading supplier of telecommunication services in Malaysia. They are looking for a Joint Venture to manufacture and commission digital switching exchanges to meet the needs
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