CHAPTER 1 MANAGERIAL ACCOUNTING‚ TYPES AND ETHICS. 1) Managerial Accounting: Firms internal accounting system and designed to support the information needs of managers in order to make decisions. Not bound by GAAP. a) Managerial accounting has 3 objectives: i) To provide information for planning organization actions ii) To provide information for controlling organization actions. iii) To provide information for making effective decisions. b) Reports that help mangers that are nonfinancial are:
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Was the existing system adequate in the past? Why or why not? Why is it no longer adequate? The existing system was adequate in the past due to heavy reliance on direct labor hours. The ETO served as a central cost center‚ and transferred the costs to other divisions at direct costs plus allocated burden. Being in the late 1970s and early 1980s‚ technology testing of components required fewer cycles‚ and less complicated structures. Hence‚ such testing on products could be carried out by direct
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A and B. Costs associated with the alternatives are listed below: Alternative A Alternative B Materials costs $40‚000 $56‚000 Processing costs $37‚000 $37‚000 Equipment rental $13‚000 $13‚000 Occupancy costs $15‚000 $22‚000 71. Are the materials costs and processing costs relevant in the choice between alternatives A and B? (Ignore the equipment rental and occupancy costs in this question.) A) Both materials costs and processing costs are relevant B) Neither materials costs nor processing
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FLORIDA STATE COLLEGE AT JACKSONVILLE Syllabus July 1‚ 2013 ACG2071 – Managerial Accounting 3 CREDIT HOURS |Term/Year: |Summer 2013 | |Reference Number: |386887 | |Instructor: |Ann Meuse | |Classroom: |ATC Room TO208 | | |6:00
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company uses a process cost accounting system. Its Assembly Department’s beginning inventory consisted of 50‚000 units‚ 3/4 complete with respect to direct labor and overhead. The department started and finished 127‚500 units this period. The ending inventory consists of 40‚000 units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $24‚000 and overhead costs of $32‚000 for the
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Cost accounting and the lean production philosophy By Tyrone Williams AIU Online September1‚ 2012 Abstract As Dr. Stephanie White prepares to cope with the a steep reduction in the budgetary allocation to the Uptown Clinic she must carefully determine which areas to cut while striving to maintain current levels of service. This essay will offer advice Dr. White on preparing for budget cuts. It will also discuss the lean production philosophy and how this compares with typical production
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effectively through direct personal experience via the actual information from the manufacturers. ii) To focus attention on the learning process by delivering and exchanging information among the members of the group. iii) To promote translation of accounting theory into specific and meaningful experience. iv) To cultivate students to organise themselves‚ interdependent among the group members and communicate with one and another. v) To encourage students to experience lifelong learning and to practice
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ORIGINAL SCHOLARSHIP ONLY – SHARING OF RESPONSES IS COMPLETELY UNACCEPTABLE – SUBJECT TO THE LAHS HONOR CODE CHAPTER TIMELINE AP EUROPEAN HISTORY – LOS ALTOS HIGH SCHOOL MCKAY – CHAPTER 14 STUDY GUIDE – 25 pts. “Reform and Renewal in the Christian Church” (ce 1470 – 1590) Study Guides will be scored HOLISTICALLY using the following criteria: 1. 2. 3. 4. 5. STUDENT’S ORIGINAL SCHOLARSHIP ONLY!! (that means DO YOUR OWN WORK – do not work with someone else!) FINAL PRODUCT MUST REPRESENT PRIDE
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1 CHAPTER ONE: ACCOUNTING IN BUSINESS Chapter Outline I. Importance of Accounting—we live in the information age‚ where information‚ and its reliability‚ impacts the financial well-being of us all. A. Accounting Activities Accounting is an information and measurement system that identifies‚ records and communicates relevant‚ reliable‚ and comparable information about an organizations business activities. B. Users of Accounting Information 1. External Information Users—those not directly involved
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Michael Naftaly Spring 2015 Hilton Honors 1. How can a loyalty program help the property operator and brand owner manage customers better A loyalty program is a very useful tool in managing customers and more importantly trying to keep them. The first aspect a loyalty program aide operator and owners is the ability to track customer’s behaviors‚ wants
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