SALE OF GOODS ACT 1908‚ ‘ROMALPA’ CLAUSES‚ PASSING OF PROPERTY CONSUMER GUARANTEES ACT 1993 1. (a) Why is it important in a Sale of Goods (SOG) contract to be precise about the time at which property passes? (Clue: what passes with property?) * When the property pass‚ the risk of the property pass to buyer too. Under the S 22 of SOG Act‚ Unless otherwise agreed‚ the goods remain at the seller’s risk until the property therein is transferred to the buyer; but when the property therein
Premium Contract Sale of Goods Act 1979 Contract of sale
this journal is available at www.emeraldinsight.com/0951-3574.htm AAAJ 21‚2 Strategic management accounting: how far have we come in 25 years? Kim Langfield-Smith Monash University‚ Melbourne‚ Australia Abstract Purpose – The purpose of this paper is to provide a review of the origins of strategic management accounting and to assess the extent of adoption and “success” of strategic management accounting (SMA). Design/methodology/approach – Empirical papers which have directly researched SMA
Premium Management accounting
Describe the ‘Challenge of Management Accounting Change’ in light of recent research findings and discuss‚ how can this change help an organisation‚ in getting its strategic‚ tactical and operating objectives? Management accounting change and the continuously changing roles of management accountants have dominated accounting literature for the past few decades and the theme of management accounting change procedures has been
Premium Management accounting Management
STRATEGIC MANAGEMENT ACCOUNTING This report will attempt to explain what Strategic Management Accounting (SMA) is‚ how it developed‚ why Traditional Management Accounting (TMA) is not sufficient to provide information for strategic decisions and the difference between SMA and TMA. It will further outline some of the essential analytical tools or techniques in SMA such as Activity Based Costing (ABC) and the Balanced Scorecard (BSC). SMA is an extremely broad concept‚ so in order to give a bird’s
Premium Management accounting Strategic management
E9-7 Brainiac Company purchased a delivery truck for $30‚000 on January 1‚ 2011.The truck has an expected salvage value of $2‚000‚ and is expected to be driven 100‚000 miles over its estimated useful life of 8 years.Actual miles driven were 15‚000 in 2011 and 12‚000 in 2012. Instructions (a) Compute depreciation expense for 2011 and 2012 using (1) the straight-line method‚ (2) the units-of-activity method‚ and (3) the double-declining balance method. (b) Assume that Brainiac uses the straight-line
Premium Depreciation
Accounting plays an important role in the life of organizations. There are several types of accounting such as financial‚ management and governmental accounting‚ taxation‚ audit. These types are usually focusing on different types of users that are interested in different types of information. In this essay I will examine the differences between financial accounting and management accounting. The basic difference between financial and management accounting is their target group. Management accounting
Premium Management Future Decision making
and the choice of new products; and the emergence of e-business and so on. As a result of the defects of traditional accounting have been unable to meet these changes new management themes have evolved which in turn has resulted in the development of strategic management accounting. Strategic management accounting aims to provide relevant information to an organization’s management to enable them to make strategic plans and strategic decisions. The emphasis is on external information on competitors
Premium Management accounting Costs Cost accounting
by the company is not meeting target budgeted profit. This is a critical situation where management of Manac plc should understand and evaluate the key strategic management accounting models and concepts which may affect to decisions made with regard to products’ cost and price. Manac plc presently uses traditional management accounting concepts such as standard costing and absorption costing methods as a part of its approach to strategic management accounting. The reasons for the company not to
Premium Management accounting Costs Cost accounting
Abstracts This paper starts with introducing importance of management accounting literature and reviews the historical development of cost accounting from 1850 through 2000‚ includes origin of management accounting and controlling practices. In addition it identifies the management accounting theoretical development‚ and the main critiques that shapes the development of management accounting‚ thus creating a ground for future research or reviews. As well as it presents challenge existed in the
Premium Management accounting Cost accounting Management
1.0 Introduction According to The Environment Agency in the United Kingdom (2006)‚ Environmental Accounting can be defined as: “The collection‚ analysis and assessment of environmental and financial performance data obtained from business management information systems‚ environmental management and financial accounting systems. The taking of corrective management action to reduce environmental impacts and costs plus‚ where appropriate‚ the external reporting of the environmental and financial
Premium Management accounting Sustainability