CHAPTER 9 INVENTORY COSTING AND CAPACITY ANALYSIS 9-1 No. Differences in operating income between variable costing and absorption costing are due to accounting for fixed manufacturing costs. Under variable costing only variable manufacturing costs are included as inventoriable costs. Under absorption costing both variable and fixed manufacturing costs are included as inventoriable costs. Fixed marketing and distribution costs are not accounted for differently under variable costing and absorption
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Debts to amount calculated) 2014 30 June Bad Debts Expense Allowance for Doubtful Debts 20 070 20 070 (Adjustment to increase Allow for Doubtful Debts to amount calculated) Suggested Solutions taken from the Solutions Manual to accompany Hoggett J.‚ Medlin J. Edwards L.‚ Tilling M. and Hogg E. “Financial Accounting” 8th Edition‚ 2012‚ John Wiley & Sons Australia‚ Ltd.
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E11.3. Reformulation and Analysis of Financial Statements a. Reformulated balance sheet 2009 Operating cash Accounts receivable Inventory PPE Operating assets Operating liabilities: Accounts payable Accrued expenses Net operating assets Net financial obligations: Short-term investments Long-term debt Common shareholders’ equity $1‚200 390 $ 60 940 910 2‚840 4‚750 1‚040 450 2008 50 790 840 2‚710 4‚390 1‚590 3‚160 1‚490 2‚900 $( 550) 1‚840 1‚290 $1‚870 ( 500) 1‚970 1‚470 1‚430 Reformulated
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CHAPTER 1 THE CHANGING ROLE OF MANAGERIAL ACCOUNTING IN A DYNAMIC BUSINESS ENVIRONMENT Learning Objectives 1. Define managerial accounting and describe its role in the management process. 2. Explain four fundamental management processes that help organizations attain their goals. 3. List and describe five objectives of managerial accounting activity. 4. Explain the major differences between managerial and financial accounting. 5. Explain where managerial accountants are located
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Chapter 8 Segment and Interim Reporting Chapter Outline I. FASB Accounting Standards Codification Topic 280‚ Segment Reporting (FASB ASC 280)‚ provides current guidance on segment reporting. A. ASC 280 follows a management approach in which segments are based on the way that management disaggregates the enterprise for making operating decisions; these are referred to as operating segments. B. Operating segments are components of an enterprise which meet three criteria. 1. Engage in business
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Chapter 1 – Introduction to Financial Accounting Learning Objectives: After studying Chapter 1‚ you should be able to * Discuss the different classifications of financial transactions * Define an equity investor and a debt investor and understand the difference * Discuss the role of the Securities and Exchange Commission * Name the Big Four accounting firms and define the term “independent auditor” * Define corporate governance * Discuss GAAP and IFRS and the concept of
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Birzeit University MBA Program Managerial Accounting BUSA 631 Spring 2013 Case 3 The Rohr Company’s old equipment for making subassemblies is worn out. The company is considering two courses of action: (a) Completely replacing the old equipment with new equipment or (b) Buying subassemblies from a reliable outside supplier‚ who has quoted a unit price of $1 on a 7-year contract for a minimum of 50‚000 units per year. Production was 60‚000 units in each of the past 2 years. Future
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Animal Farm Ch. 11 After a few hours when all of the animals were in a deep sleep‚ Napoleon walked down to the shed with Pilkington to observe Napoleon’s livestock. At this point‚ Napoleon and all of the farmers were very drunk off of Napoleon’s homemade whiskey. Little did they know that Squealer wasn’t drunk at all and had a plan to kill Napoleon for power. Squealer had a big mouth‚ so he had to tell the animals‚ Squealer had persuaded the animals to hate Napoleon‚ and that he himself was going
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Chapter 1 Environment and Theoretical Structure of Financial Accounting AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools‚ departments‚ and faculty may approach assessment and its documentation differently‚ one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor‚ we have labeled each question‚ exercise and problem in Intermediate Accounting
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39. Importance of Journals and newspapers- 40. Pontiacs Rebellion- After the French and Indian War‚ colonists began moving westward and settling on Indian land. This migration led to Pontiac’s Rebellion in 1763‚ when a large number of Indian tribes banded together under the Ottawa chief Pontiac to keep the colonists from taking over their land. Pontiac’s Rebellion led to Britain’s Proclamation of 1763‚ which stated that colonists could not settle west of the Appalachian Mountains. added by
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