costs Accounts Nature or Classification Amount in Tshs 000 Administration expenses 0% variable 120‚000 Marketing expenses 40% variale 100‚000 Depreciation costs 0% variable 80‚000 During the year 2013‚ Ujamaa Ltd produced 80‚000 bags. Management is forecasting sales price for the year 2014 based on 2013 cost data. The following additional data is available for the year 2014 compared to the data for the year 2013 1. Price for direct materials are expected to increase by 10% 2. Under
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According to Burger (2008) “Accounting is the language of business. A lot of people think it ’s just numbers‚ but it ’s really a lot more than that. There are a lot of areas outside of numbers that need to be looked at‚ processes and procedures‚ what the tone of the company is. Accounting will take you in just about any direction in a company." ~ Wade Becker‚ CPA‚ Beard‚ Miller Co. The job description of many professions is changing nowadays. The skills to perform a certain job require more skills
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MAA103 & MAAP103 - Accounting for Decision Making ASSIGNMENT – TRIMESTER TWO‚ 2011 (Relates to Topic 4) Represents 20% of the assessment for this unit DUE DATE: ASSIGNMENT PLANNER: MONDAY 1 AUGUST‚ BY 5.00pm FINAL ASSIGNMENT: THURSDAY 8 SEPTEMBER‚ BY 5.00pm NOTE the following general submission points: 1. 2. 3. 4. 5. Assignment can be completed in groups of no more than THREE students. Students CAN NOT complete assignment with students from other lecturers classes. Only ONE hardcopy of
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Chapter 5 Accounting for Merchandising Operations Chapter Summary Merchandising Operations • A merchandising company is an enterprise that buys and sells goods to earn a profit. • Measuring net income for a merchandising company is the same as for a service company through matching of expenses with revenues. • In a merchandising company‚ the primary source of revenue is the sale of merchandise‚ which is called sales revenue or sales. • Expenses for merchandising
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MANAGEMENT ACCOUNTING AND ORGANIZATIONAL CHANGE: IMPACT OF ALIGNMENT OF MANAGEMENT ACCOUNTING SYSTEM‚ STRUCTURE AND STRATEGY ON PERFORMANCE Introduction In the search to understand management accounting in competitive environments and advance technologies‚ change has increasingly become a focus for research. Many firms have experienced significant changes in their organizational design‚ competitive environments and technologies. Business environments exhibit a variety of structures and processes
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Benchmarking‚ Strategic Cost Management‚ Total Quality Management and Six Sigma. These developments had a vast impact on the overall usage of cost accounting. Accountants have been found to be the first to resist change‚ and the failure to various ABC and scorecard projects has been linked to the unwillingness of accountants themselves to see the project through. Despite all the positive results in the past‚ it appears that the adoption of advanced management accounting practices has slowed. The reason
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← Abstract Faced with various issues of international accounting in cultural‚ economic‚ ethical and social level‚ after comparing US with China about the GAAP‚ analyzing the differences and difficulties in global accounting standard‚ it’s necessary to separate different accounting standards because of the diversification in different countries‚ it shows that accountancy professions play an important role in capital market‚ which can provide useful‚ relevant and reliable information to interested
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Homework Week 2 Exercise E1-1 SEC – K Audit – G Sole Proprietorship – I Corporation – E Accounting – A Accounting Entity – D Audit Report – J Cost Principle – F Partnership – C FASB – L IASB – H Unit of Measure – B GAAP – N IFRS – M E1-2 Accounts receivable – Asset Cash and cash equivalents – Asset Net sales – Revenue Notes payable – Liability Taxes payable – Liability Retained earnings – Stockholders’ Equity Cost of products sold – Expense Marketing‚ administrative
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CHAPTER 2 21. Generally accepted accounting principles a. are fundamental truths or axioms that can be derived from laws of nature. b. derive their authority from legal court proceedings. c. derive their credibility and authority from general recognition and acceptance by the accounting profession. d. have been specified in detail in the FASB conceptual framework. 22. A soundly developed conceptual framework of concepts and objectives should a. increase financial statement users’
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of the times‚ people find it difficult to understand the various accounting Concepts. In this coursework‚ I shall analyze these concepts and explain them. First of all I shall discuss the materiality concept. WHAT IS MATERIALITY? Authoritative accounting bodies in the USA such as Financial Accounting Standard Board (FASB)‚ Securities and Exchange Commission (SEC)‚ General Accounting Office (GAO)‚ American Institute of Certified Public Accountants
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