Chapter 1 Financial Accounting and Accounting Standards Intermediate Accounting‚ 15th Edition Kieso‚ Weygandt‚ and Warfield 1 Financial Statements and Financial Reporting • Goals or purpose of (financial) accounting – Identification‚ measurement‚ and communication of financial information about – An economic entity to – Interested Parties (internal and external) • Creditors‚ managers‚ unions‚ government agencies Financial reports (statements) & notes 2 Financial Statements
Premium International Financial Reporting Standards Financial Accounting Standards Board Financial statements
Cost drivers‚ as propounded by Porter (1985) are the structural causes of the cost of an activity in the value chain. They determine the behaviour and level of costs within an activity. A cost driver can be completely‚ partly or not at all under the control of a firm. It is therefore important for a manager to understand these factors because according to the Neo-classical model of the firm‚ the firm’s objective is to maximise profit by producing a given level of output at the minimum cost level
Premium Costs Vertical integration Strategic management
EXECUTIVE SUMMARY The Minimum Wage Ordinance Cap. 608 is an ordinance enacted by the Legislative Council of Hong Kong to introduce a minimum wage in Hong Kong in July 2010. The executive branch proposed a minimum wage of HK$30 (~US$3.871) per hour in November 2010‚ which the Legislative Council voted to accept after much debate in January 2011. It came into effect on 1 May 2011. Prior to this‚ there had also been a fixed minimum wage for one specific class of workers‚ foreign domestic
Premium Minimum wage Wage Employment
Cited: Douglass‚ Frederick. “What is to the slave is the 4th of July?” The Presence of Others. Andrea A. …….Lunsford and John J. Ruszkiewicz. Boston: St. Martin’s 5th Edition‚ 2008. 497-508. Print.
Premium United States Slavery in the United States Abolitionism
Managerial and Financial Accounting Report Week one paper Chuck Youman Finance 540 George Peterson July 26‚ 2006 MFAR 2 Introduction This report is intended to discuss the differences between financial accounting and managerial accounting. By discussing the differences in the types of reports that are generated by the two different accounting systems‚ this report will compare and contrast the types of decisions made using the information that the two types of accounting would
Premium Management accounting Accountancy Ethics
CHAPTER ONE INTRODUCTION Background of the Study Competent leaders come from competent students. Future leaders of country should possess the skills that will suit the needs of one’s nation. In this way‚ the country’s goals and perspectives can be easily achieved. Through careful practices‚ learners’ actions are being improved which is one of the factors in having a progressive and well-literate society. Extracurricular activities play a vital role in the educational attainment of the students
Premium High school Extracurricular activity
bad things like terrorism or cyber bullying. These actions cause people like schools and the government to track or monitor people’s social media accounts. Some people say looking through social media pages to detain or punish people violates the 4th amendment which prohibits unreasonable searches and seizures. And others say getting people in trouble for what they post on social media violates their 1st amendment rites of freedom of speech. There was a court case called Morse v. Frederick about
Premium Sociology Social media Debut albums
purpose of a product-costing system? The purpose of a product-costing system: * Determine product and service cost‚ and value inventory. * Facilitate management planning‚ cost. * Control and performance evaluation. * Facilitate managerial decision making. Q(4-5): define the term equivalent units and explain how the concept is used in process costing.? A term used in process costing to refer to the amount of manufacturing activity that has been applied to a batch of physical unites
Premium Costs Cost Cost accounting
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
Premium Enron Accountant Enron scandal
The movie “4th Man Out” tries to touch on how difficult it can be for someone to come out as gay to their family and friends‚ as well as the struggles of being gay in todays society. I found that the movie was rather two sided for me‚ as it was both easy to relate to and occasionally overly dramatic at times. There were several moments that really made me reflect on both my own and friends struggles with their sexual identity. The movie predominantly focused on coming out in a very “heteronormative”
Premium Sexual orientation LGBT Coming out