Cost Classifications and Estimation 2.0 Introduction Cost classification may be defined as ‘the arrangement of cost items in a logical sequence having regard to their nature and purpose to be fulfilled’. The term cost must be qualified when in use in order that its precise meaning is established in a particular situation; however‚ cost refers to the amount of resources that have been diverted from other uses or sacrificed so as to achieve the desired objective. But the term is used to refer to
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Cost Accounting: A Managerial Emphasis‚ EXHIBIT 11-1 Accounting Information and the Decision Process FIVE-STEP SEQUENCE Step 1: Gathering Information AN ILLUSTRATION The current manufacturing line uses 20 employees‚ 15 operating machines‚ and 5 handling materials‚ for a total cost of $640‚000. The rearrangement of the manufacturing assembly line is expected to eliminate materials-handling costs‚ equivalent to $160‚000. The cost of the rearrangement will be $90‚000. Historical
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THE MANAGEMENT OF OVERHEAD COSTS IN CONSTRUCTION COMPANIES Brian Eksteen1 and David Rosenberg² ¹Professor of Construction Management‚ Faculty of Economic and Building Sciences‚ University of Port Elizabeth‚ P.O. Box 1600‚ Port Elizabeth‚ 6000‚ South Africa ²Senior Lecturer in Cost and Management Accounting‚ Faculty of Economic and Building Sciences‚ University of Port Elizabeth‚ P.O. Box 1600‚ Port Elizabeth‚ 6000‚ South Africa Costs not directly attributable to or recoverable from production
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Present Education as I see it: Someone approached me to teach his ward some mathematics or rather to supplement what could not be comprehensively deciphered from the notes from the plethora of private tutors (I don’t know whether the notes are photocopies of age-old yellowish original manuscripts written in the last century and passed on from generation to generation). I am not blaming the notes or their authors rather I have the highest regard for both. But what a young impressionable mind in
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1. Coal allocation scam Coal allocation scam or Coalgate‚ is a political scandal concerning the Indian government’s allocation of the nation’s coal deposits to public sector entities (PSEs) and private companies by Prime Minister Manmohan Singh. In a draft report issued in March 2012‚ the Comptroller and Auditor General of India (CAG) office accused the Government of India of allocating coal blocks in an inefficient manner during the period 2004–2009. Over the Summer of 2012‚ the opposition BJP
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Agency Costs of Free Cash Flow‚ Corporate Finance‚ and Takeovers Michael C. Jensen Harvard Business School MJensen@hbs.edu Abstract The interests and incentives of managers and shareholders conflict over such issues as the optimal size of the firm and the payment of cash to shareholders. These conflicts are especially severe in firms with large free cash flows—more cash than profitable investment opportunities. The theory developed here explains 1) the benefits of debt in reducing agency
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education‚ but sometimes I find myself wondering: Do the benefits of college still outweigh the costs? I want to say that college will always outweigh the cost‚ but I have no facts to support my opinion. With this paper‚ I have set out to prove or disprove my opinion. I will do so by researching three main topics. I will find the pros and cons of gaining a higher education‚ the statistical facts about the costs and debts gained and the possible ability to repay in a timely manner‚ and finally I will address
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The cosmological arguments are inductive arguments based on an ‘a posteriori’ premise‚ which‚ despite having been introduced many years ago‚ continue to be prevalent today. An early example of the argument is within ‘Timaeus’‚ in which Plato proposed the idea that anything that has been created must be created by a cause. These arguments are intended to prove the existence of the God of Classical Theism by explaining that God must be the first cause of the universe; the being setting the world into
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Organizations Related Resources Service Providers/Consultants Tools Best Practice Vetting Process Integrated Product and Process Development (IPPD) Pair Programming Software Acquisition Best Practice Software Program Managers Network (SPMN) Software Cost Estimation Best Practices Case Studies Education and Training Experts Literature Programs and
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Cost/Benefit Analysis Evaluating Quantitatively Whether to Follow a Course of Action You may have been intensely creative in generating solutions to a problem‚ and rigorous in your selection of the best one available. However‚ this solution may still not be worth implementing‚ as you may invest a lot of time and money in solving a problem that is not worthy of this effort. Cost Benefit Analysis or CBA is a relatively* simple and widely used technique for deciding whether to make a change. As its
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