THE COST AND SALES CONCEPT Cost is defined as a reduction in the value of an asset for the purpose of securing benefit or gain. Cost is defined in a hotel and restaurant as the expense to a hotel or restaurant for goods or services when the goods are consumed or the services are rendered. KINDS OF COSTS 1. Fixed costs – are those that are normally unaffected by changes in sales volume. They are said to have little direct relationship to the business volume because they do not change
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Internal Controls XACC/280 April 7‚2013 Axia Internal Controls Internal controls are put into place to safeguard a company’s assets and to promote the accuracy of their accounting records. There are two primary goals of internal controls. The first goal of internal controls is to safeguard it’s assets from employee theft‚ robbery‚ or unauthorized use. When there is a large some of money there is temptation from employee’s to take some of it. Many employees believe they are underpaid
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Rubriik: Active Spa The power of commitment Is that anything in your life that makes you happy‚ that you do with love‚ commitment and passion? This might well be yoga. Written by: Tiina Sarapuu‚ Maret Einmann Photos: „It may well happen that a random yoga class attended during your vacation‚ is a beginning of a life changing journey‚” says Tiina Sarapuu‚ manager of the ACTIVESPA ESTONIA. "You can and even should attend yoga classes during your vacation. Your mind is more open‚ body more relaxed
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For the benefit of both parent and child‚ it is imperative for parents to monitor their children under the age of 16’s Facebook. My first speaker extrapolated on how social mediums such as Facebook can create a false sense of identity‚ leaving the child vulnerable and pressured. Facebook is no doubt a large aspect of teenagers lives‚ and it is becoming challenging for adolescents to create a personal sense of self not only in reality‚ but online and as a result they may dress up their Facebook
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Critically evaluate the claim that it is social controls that prevent us all from committing crime. This essay will thoroughly examine and evaluate the claim that it is social controls that prevent us from committing crimes by looking at different social control theories. Firstly we must determine what a social control theory consists of‚ according to Hopkins (2009) ‘social control theory is fundamentally derived from a conception of human nature that proposes that there are no natural limits
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Chapter 1 Management control: an overview Introduction T his first chapter introduces management control‚ providing an overview of its fundamental objectives‚ components‚ concepts and tools. Its aim is to elucidate the general anatomy of this management approach so that the reader will be able to understand the links between the various topics that are dealt with in subsequent chapters of the book. Management control will be defined progressively. In the first section we will deliberately
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Technological advancements are the key to winning wars; World War II saw the first nuclear weapons‚ World War I saw the first tanks‚ and The Civil War saw the first ironclad warships. The USS Monitor and the CSS Virginia were the first two ironclad warships to battle each other; The Battle of Hampton Roads consisted of the Monitor and Virginia trading blows‚ but neither ships were able to destroy the other and the battle inevitably ended in a stalemate. However‚ one ship certainly must have been better; in order
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Kids should be monitored on the internet The internet is known for many miraculous advances in today’s technology. We have an unlimited quantity of knowledge on this so-called information super highway. Plus we can purchase merchandise‚ and talk to friends and family from around the world without leaving the comfort of our own homes. Seems great right? Sure‚ but if it’s placed in the wrong hands all of this can be spoiled. Particularly when a child is sitting behind the computer screen. This is
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Internal Control Procedures ASSIGNMENT 1. Who is ultimately responsible for the corporate governance of an organisation? The Board of Directors 2. Who else plays a part in corporate governance? Shareholders‚ auditors and other stakeholders. 3. Who are the stakeholders? A person‚ group or organisation that has interest or concern in an organisation. 4. List the corporate governance requirements a company needs to adhere to: The company has an adequate system of internal control in
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Chapter 5: Internal Control over Financial Reporting 1. Internal control is a process designed to guarantee the achievement of the objectives of reliable financial reporting‚ compliance with laws and regulations and ineffective and inefficient operations. FALSE 2. Auditing standards require that the auditor exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit. TRUE 3. If internal controls are not enforced they are useless
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