A budget according to Drury (2008) can be defined as a financial plan for implementing the various decisions that management has made or a quantitative expression of planned activities. In addition‚ a budget is an estimate of costs‚ revenues‚ and resources over a specified period‚ reflecting a reading of future financial conditions and goals. It an organization‚ it is one of the most important administrative tools‚ as it serves as a plan of action for achieving quantified objectives and is a device
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Chapter 2 Job Order Costing TRUE/FALSE 1. Cost accounting systems are used to supply cost data information on costs incurred by a manufacturing process or department. ANS: T 2. A manufacturer may employ a job order cost system for some of its products and a process cost system for others. ANS: T 3. A job order cost accounting system provides for a separate record of the cost of each particular quantity of product that
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Extempore speaking is the term used for a non-formally prepared speech. Explaining to your parents why you arrived home later than your curfew is a form of extempore speaking. When you watch a beauty pageant on television and the contestants have to draw a question and answer it for the judges‚ they are extempore speaking. Every time you speak you are preparing for extempore speaking. You probably prepare without even knowing it. You have to read to learn new things for this type of speaking. When
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• Why do you want to write about this topic? No matter how I look at this Obamacare is going to affect my future. I have health insurance through my husband’s work already. But if we open our own business eventually we will need to know all the information about it. And with Obama being our current president is good to keep up with all the current information that is going on. • Why is it interesting? I think this is an interesting topic since my husband and I would like to open
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Exam Chapter 1-5 Name 1) Managers usemanagement accounting information to A) implement C) communicate strategy. B) choose D) All of these answers are correct. 2) Place the four business functions in the order they appear along the value chain: Customer service Design Marketing Production A) Design‚ Production‚ Marketing‚ Customer Service B) Customer Service‚ Design‚ Production‚ Marketing C) Design‚ Customer Service‚ Production‚ Marketing D) Customer Service‚ Marketing
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CHAPTER 12 FINANCIAL CONTROL TRUE/FALSE 1. Financial control involves the use of financial measures to assess organizational and management performance. a. True b. False 2. Financial measures identify what is wrong with an organization‚ not simply provide a signal that something needs attention. a. True b. False 3. Financial measures can highlight falling sales and profits in an organization‚ but only nonfinancial measures can identify why this is occurring.
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Accounting‚ or accountancy‚ is the measurement‚ processing and communication of financial information about economic entities. Accounting‚ which has been called the "language of business"‚ measures the results of an organization ’s economic activities and conveys this information to a variety of users including investors‚ creditors‚ management‚ and regulators. Practitioners of accounting are known as accountants. Accounting can be divided into several fields including financial accounting‚ management
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Evolution of Performance Measurement Models in Management Accounting Name Grade course Tutor’s name 2nd October 2010 Abstract Changes in management accounting have gone by unnoticed in the recent years. This article tries to explain by how much management accounting has altered through the years‚ since the 1950s to date‚ and the reasons that led to the changes. This work also focuses on various performance evaluation models‚ their applications and their effectiveness. Introduction
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subject of Strategic Management Accounting‚ defined it as‚ "a form of management accounting in which emphasis is placed on information which relates to factors external to the firm‚ as well as non-financial information and internally generated information." Ward (1992) defines it as‚ “strategic management is an integrated management approach that draws together all the individual elements involved in planning‚ implementing and controlling business strategy” For management accounting must help accomplish
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Sample Dissertation - 1 LS Business Publishing LS Education Group Please note that the dissertation below is an example of a typical detailed research dissertation. For the Undergraduate Major Project module candidates are expected to utilise only 10000 words for their research dissertations. For more details you are advised to refer to the Module Guide document which is made available under the ‘Assignment Question’ of the ‘Module Assessment’ section of the IMSS. This is a sample pass answer
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