charismatic Ferris Bueller once said‚ “Life moves pretty fast. If you don’t stop and look around once in awhile‚ you could miss it.” Right now I am making many choices that could influence my life forever. That is a lot for an 17-year-old to take on. However‚ In 30 years I will most likely be in the same boat as my parents. I’ll probably be trying to send my children through college‚ and making sure they have everything they need to make it in the world. However‚ what about my life then? Will I consider
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costs Labor costs of assembly-line workers $110‚000 – Direct labor Sales commissions $35‚000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including
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8/2/2012 Objective of Lecture 2 CLASSIFICATION OF ACCOUNTS & ACCOUNTING EQUATION • By end of lecture 2‚ all students should be able to:(a) Understand the five categories of accounts and able to classify them into the respective categories (b) Understand the accounting equation and the relationship between assets‚ liabilities and owner’s equity. Classifications of accounts • • 1. 2. 3. 4. 5. An account is used to record all information regarding an item. The five major
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Eldoret Town‚ its postal address being The mobile number being It is owned and managed by its owner-Eric Kipchoror Kiplagat. Mr.Eric Kipchoror Kiplagat has extensive experience in accounting‚ sales‚ marketing‚ and management and is the Sales Executive of Sergoit Golf & Wildlife. The company intends to hire two full-time pastry bakers and six waitresses to handle customer service and day to day operations. Products and Services EB offers a broad range of coffee and pastry products‚ all from
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Compendium of Accounting Standards (including Interpretations as on July 1‚ 2006) THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI COPYRIGHT © THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA All rights reserved. No part of this publication may be translated‚ reprinted or reproduced or utilised in any form either in whole or in part or by any electronic‚ mechanical or other means‚ including photocopying and recording‚ or in any information storage and retrieval system‚ without
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To Last - Summary of Key Points Written by James Collins & Jerry Porras both are associated with Stanford About this book: This summary of Built to Last is included because if one is going to change an organization‚ one needs to know what to change towards. This book is one of the best we know of that answers that question. It is one of the best pieces of research done on why certain organizations are more successful over time than others. Because its time horizon is a minimum of 50 years‚ its
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Mission statements‚ goal setting‚ and planning methods alone are simply not enough anymore. Management fads have given way to time-tested management principles that distinguish good companies from truly great companies. Many organizations have found success by utilizing a technique of balancing their core ideology‚ stimulating progress‚ and seeking support by aligning company objectives‚ strategies‚ and policies. These companies are what Jim Collins and Jerry Porras call "visionary". Built to Last seeks
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Anand Mohan Goel Anjan V. Thakor University of Michigan Why Do Firms Smooth Earnings?* I. Introduction Corporate earnings management has been much in the news lately. For example‚ Business Week has recently run two cover stories‚ one titled “Who Can You Trust?” (October 5‚ 1998) and the other titled “The Numbers Game” (May 14‚ 2001)‚ that suggest that the credibility of earnings reports is being eroded by earnings management. Arthur Levitt‚ Jr.‚ chairman of the Securities and
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“scientific” world-view of mainstream accounting researchers‚ is grounded on a belief that “reality” exists independently of thee human subject and the possible implications this has for accounting theory development. Introduction Accounting is a subject that is guided with principles and regulations. Thus‚ it is often regarded as a rigid‚ rigorous‚ and highly analytical discipline with very precise interpretations. However‚ this is far from the truth. For instance‚ two organizations that are otherwise
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30 years ago and former‚ people thought differently about the idea of marriage‚ then we do now. Both men and women had very strict roles. Husband was the one‚ who was supposed to work‚ earn money and eventually spend some time with childrean over the weekend. Wife’s role was to cook‚ clean and take care of childrean every day. Nowadays that kind of family model would be rather unacceptable‚ becouse relationships between the sexes have changed their character. Until the end of former century‚ woman’s
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