There are various methods in the accounting world used to keep track of inventory and cost of goods used. FIFO stands for first in first out method which is the opposite of LIFO‚ last in first out. Both methods have disadvantages and advantages when it comes to tax time or preparing a financial statement for the investors. As the name suggest‚ FIFO will account inventory that came in first will be sold first. This method is effective for companies selling products with expiration dates. Obviously
Premium Revenue FIFO and LIFO accounting Inventory
FINS 5550 / FINS 3650 — International Banking Recap 04A — Credit Transformation and Credit Risk Credit Risk More than eighty percent of the average bank’s capital is held against credit risk. If credit risk accounts for >80% of the bank’s inventory cost‚ it’s a fair bet that credit transformation accounts for a similarly large portion of bank profits. Credit risk arises whenever the bank has an exposure which requires a counterparty to remit funds. The exposure can arise from a loan or loan-type
Premium Credit Normal distribution Operational risk
Chapter 1 - Homework #2. How does OD differ from a single-change technique such as management training? Organization Development (OD) guides management to deal with change using many different techniques‚ such as total quality management or job enrichment‚ and none of them by itself. With single-change technique such as management training it is just focused at one type of management to change or modify performance of an individual. #5. Explain three basic responses an individual may have to
Premium Management Organization Sociology
MGMT6 Management Decision Chapter 4 Responding to Tragedy On April 5‚ 2010‚ an explosion at the Upper Big Branch coal mine in Montcoal‚ West Virginia‚ killed 29 workers. Over the next several weeks and days‚ as nationwide attention turned to this tragedy‚ it was discovered that the mine’s operating company‚ Massey Energy‚ was cited for numerous safety and regulatory violations. One month prior to the accident‚ the mine was written up more than 50 times‚ with 12 of those notices relating to
Premium Coal Coal mining Mining
Week 1 Homework Acctg 557 Problem 1: PAT’S ELECTRONIC DIVISION: (a) Point of Sale: Completion-of-production: Percentage-of-completion Installment-Sales (b) PAT’S ELECTRONIC DIVISION Billed and Shipped Down Payments Freight Billed Commissions ($2‚400‚000 x 10%) Warranty Returns ($3‚000‚000 x 1%) Revenue for 2012 PICKLE CONSTRUCTION: Percent complete as of 12/31/12 (5/24) 5 months of 24 months complete Total expected revenue ($60‚000‚000-$52‚000‚000) Cost to date Revenue ($8‚000‚000 x 21%) GAAP? Yes
Premium Cost of goods sold Generally Accepted Accounting Principles Revenue
Week 4 of Intercultural Communication has given me the opportunity of presenting and discussion facilitator of the topic “Connected but‚ alone?” The assignment was to lead a discussion on a topic throughout the week‚ which means acknowledging and following up with your classmates’ posts‚ asking clarifying questions‚ and summarizing the discussion for the week. The topic is based on a Ted Talk hosted by Sherry Turkle giving her perspective on modern communication and how they are redefining
Premium Psychology Learning Education
LSI SELF-DESCRIPTION Demetria Body MGMT-591-12037 Leadership & Organizational Behavior Richard Voyles May 13‚ 2013 Self-Description According to the LSI Internet Edition LSI 1‚ the Life Style Inventory survey from Human Synergistics International‚ is a “system that provides a "road map" to properly focus your personal development goals and keep you headed in the direction you want to go. The LSI measures 12 specific styles of patterns of thinking that can either aid or deter a person from
Premium Management Leadership Psychology
State Bank of India CENTRAL RECRUITMENT & PROMOTION DEPARTMENT‚ CORPORATE CENTRE‚ MUMBAI Recruitment of Probationary Officers in State Bank of India Result of the Written test (Phase - I) Held in June / July 2014 Roll Numbers of Candidates Shortlisted for Phase - II Phase - II (i.e. Group Discussion and Interview) will commence from 08-10-2014. Candidates shortlisted are being advised by way of SMS and e-mail seperately. Candidates are advised to visit Bank’s website www.sbi.co.in or www
Premium
Describe & analyze how the influence of culture played a role in the negotiations The Affordable Care Act is designed to expand insurance coverage‚ control costs‚ and target prevention (Gable‚ 2011). The government is targeting adults aged 19-64‚ since their access to health care and use of health services deteriorated between 2000 and 2010‚ particularly among those who were uninsured (Kenney‚ McMorrow‚ Zuckerman‚ & Goin‚ 2012). The goal is to reduce the number of uninsured adults through a Medicaid
Premium Health care Health insurance Health economics
Strategic Plan‚ Part III: Balanced Scorecard Laurie Waldrep BUS/475 June 11‚ 2013 Dr. Koshy Joseph-Vaidyan Strategic Plan‚ Part III: Balanced Scorecard The Balanced Scorecard is a technique used in strategic planning and management system used comprehensively worldwide in business management‚ government entities and non-profit organizations to align the organizational performance to the corporate vision and its strategic goals. It is “A set of four measures directly linked to a company’s
Premium Strategic management Strategic planning Management