THE ACCOUNTING CYCLE LARRY M. WALTHER & CHRISTOPHER J. SKOUSEN DOWNLOAD FREE TEXT BOOKS AT BOOKBOON.COM The Accounting Cycle © 2009 Larry M. Walther‚ under nonexclusive license to Christopher J. Skousen & Ventus Publishing ApS. All material in this publication is copyrighted‚ and the exclusive property of Larry M. Walther or his licensors (all rights reserved). ISBN 978-87-7681-486-1 Download free books at BookBooN.com 2 Contents The Accounting Cycle Contents Part 1:
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COSTS:Costs which have already been incurred e.g. costs of Research by gaining information from research it makes decision making process easier but the costs are irrelevant as the decisions will not change them.BOOK VALUES AND ACCOUNTING DEPRECIATION.Both figures are determined by accounting conventions. Only economic considerations are relevant in decision making.COMMON COSTSCosts which are common to all alternative course of action are irrelevant to decision-making.TYPES OF DECISIONMake or Buy a component
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million Transmile accounting fraud – how Liong Sik is to assume responsibility as Chairman? Former MCA President and Cabinet Minister‚ Tun Dr. Ling Liong Sik was quite active in the past month‚ as a search with The Star archives would produce eight news items featuring him‚ including one today at the ceremony at the Universiti Tunku Abdul Rahman (Utar) campus in Kampar yesterday planting a Blue Pine tree. But he has been very reticent on what has been described as the biggest accounting and corporate
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Accounting Estimate • Accounting estimate – An approximation of a monetary amount in the absence of a precise means of measurement. This term is used for an amount measured at fair value where there is estimation uncertainty‚ as well as for other amounts that require estimation. PSA 540 9 The auditor shall review the outcome of accounting estimates included the prior period financial statements‚ or‚ where applicable‚ their subsequent re-estimation for the purpose of the current period. The nature
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AN ESSAY ON "“ INDIA” – “CHANGES IN LAST 60 YEARS" India is a big country that consists of various segments of consumers‚ based on income‚ class and status. The most recent and crucial development in India’s rising consumerism story is the birth of the rural market for basic consumer goods. Rise in literacy rates and exposure to the west‚ satellite television‚ newspapers‚ foreign magazines and newspapers have all led to the phenomenal rise of Indian consumer. Today‚ more and more of Indian
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Management Accounting ACC107 Individual Assignment Asma Moosa 30624 Diploma In Business Sem 4 c) Overhead absorption rate= OAR/ ORR Smoothing= 12663.5/10000 = $1.27 Shaping = 31362.5/25000 = $ 1.25 Fixing = 20471.75/5000 = $ 4.09 Question 2 a)Total Selling Overheads Variable selling overhead= 6000*18.75 =112500 Fixed selling overhead = 100000 Total selling overhead = 100000+112500= 212500 b) i) Marginal Costing Revenue (200*10000) 2000000 Opening Inventory(84*2000) 168000 COST OF PRODUCTION
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The factors that affect the motion of a falling object Scientific Knowledge When an object falls‚ many forces are acted upon it: gravity‚ friction‚ air resistance and‚ if in the water‚ up thrust. When an object starts to fall‚ gravity over powers air resistance‚ however‚ as an object starts to reach terminal velocity (its maximum speed) the opposite forces start to even out until they are equal. Some people believe that if the forces are balanced then the object has stopped moving‚ meanwhile they
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ACCT TEST 1. Which of the following is NOT a characteristic of a corporation? a. Corporations are organized as a separate legal taxable entity. b. Ownership is divided into shares of stock. c. Corporations experience an ease in obtaining large amounts of resources by issuing stock. d. A corporation’s resources are limited to its individual owners’ resources. e. Corporations make up 20% of all businesses. 2. An entity that is organized according to state or federal statutes
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Standard/actual 2.2 Importance of cost classification Analysis of cost behaviour is important to all organizations for effective management. This is because many organizations have a unique cost structure. For example‚ fixed costs account for 60 – 80% of all hospital costs. However‚ unlike many organizations of this type‚ labour costs largely comprise the hospital’s fixed costs. Labour costs unlike depreciation require a cash outflow. This is characteristic of labour intensive organizations
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Key Figures for the Exercises‚ Problems and Cases To Accompany Managerial Accounting Creating Value in a Dynamic Business Environment 9th Edition McGraw-Hill/Irwin 2011 by Ronald W. Hilton CHAPTER 1 No key figures. CHAPTER 2 E 2-24 Beginning inventory of finished goods‚ case I: $84‚000 E 2-25 1. Total compensation: $720 E 2-26 2. Total overtime premium: $20 E 2-29 2. Cost of goods sold: $820‚000 E 2-30 (f) $77‚000 (o) $110 E 2-31 2. Cost per call
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