AC1010 Financial and Management Accounting for Managers Course Work for Semester 2 Submitted by: Emerson K.Yip G-number: Date: May 1‚ 2013 Table Content : Page 1. Calculation of Standard Cost per unit for each of the products 3 2. Reconciliation Statement between Standard cost at actual 7 production and Actual Cost of Production. 3. List of possible reasons for each of the variance
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Accounting &Financial Management Report From: Mo Jian hui To: Board of director Executive summary According to the Global Powers of Retailing Report in 2011‚ Ahold now lies at the number 25 of world. It is making the plan to achieve the goal to be No.10 by acquisition Delhaize Group (DG) or WM Morrison Supermarkets Plc. (Morrisons).This report will analyze and compare these three companies by using CORE to find out their advantages and disadvantages of financial performance‚ then
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“internal consistency” of accounting standards is Any entity intends to create its own standard must in accordance with the existing system of standard 2. In order to achieve “internal consistency”‚ the necessary factors are as follow: a) Any entity intends to create its own standard must in accordance with the existing system of standard b) Developing standards are correspondence with the same conceptual framework. It is necessary to establish an accounting law or principle to regulate
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What should you know about Financial Accounting? 1. How to measure assets? How to present assets? *Assets are economic resources owned or controlled by the company and can be measured by dollars. *Measure assets by the Principle of Historical Cost. *The cost of asset includes all expenditures that make that asset in place and ready for use. * Present assets in the Balance Sheet by the rank of liquidity. 2. How to measure profits? How to present profits? * Operating
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Injustice in Jackson “You should never be fearful about what you are doing when it’s right” (newseum.org)‚ this was once said by civil rights activist‚ Rosa Parks. When a white passenger on a segregated city bus asked Parks to move‚ she refused to do so. She did what was righteous‚ not looking at the repercussions. A novel that explores this concept is The Help‚ written by Kathryn Stockett‚ and set in Jackson‚ Mississippi in the 1960’s. This book is about three different women – Eugenia ‘Skeeter’
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For a business to function it needs to have a competitive advantage‚ that is it needs to be more attractive than its competitors in some way to sway consumers. Porter (1985 pp2) succinctly suggests that "If your product is not cheaper than anyone else’s or doesn’t serve me better or more conveniently than anyone else’s‚ why on earth should I use them?" A business entity needs to develop strategies to enable them to keen this competitive edge down to its sharpest point. This can be summarised
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OBJECTIVES AND LIMITATION OF ACCOUNTING 17 2.2.1. Objectives of Accounting: 17 2.2.2. Limitations of Accounting: 18 2.3. The accounting cycle 19 2.4. FUNCTIONS OF ACCOUNTING 19 2.5. INTERESTED PARTIES IN ACCOUNTING INFORMATION 20 2.6. COMPUTER ROLES IN MODERN ACCOUNTING 21 2.7. THE MAIN ADVANTAGES OF COMPUTERIZED ACCOUNTING SYSTEM 22 2.8. BASIC REQUIREMENTS OF COMPUTERIZED ACCOUNTING SYSTEM 23 2.9. Data Processing Equipment 24 2.10. EFFECT OF COMPUTERIZED ACCOUNTING ON FINANCIAL REPORTING 24
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variable cost. B. Identifying cost of goods sold and operating costs. C. Identifying costs as financial or managerial. D. Identifying costs in a physical manner. E. Identifying both quantitative and qualitative cost factors. 4. A classification of costs that determines whether a cost is expensed to the income statement or capitalized to inventory is: A. Fixed versus variable. B. Direct versus indirect. C. Financial versus managerial. D. Service versus manufacturing. E. Product versus period. 5. A fixed
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Table of Contents OBJECTIVES 3 BUSINESS INTRODUCTION 3 ACCOUNTING SOFTWARE 3 ADVANTAGES 4 COMMUNICATION 4 FINANCIAL MANAGEMENT 4 SALES MANAGEMENT 5 INVENTORY CONTROL (IC) 5 HUMAN RESOURCES (HR) 5 DISADVANATGES 5 ANALYSIS OF DATA 6 SUMMARY 6 Bibliography 7 OBJECTIVES In this assignment I will review the accounting software appropriate to the outlined hypothetical company. On the one hand‚ I will consider advantages and disadvantages of the software which are relevant to the proper
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Perspectives on Accounting Education Volume 6‚ 2009‚ 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu‚ California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu‚ California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project
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