increase with total sales volume. When there is a combination of fixed and variable costs‚ a 10% volume increase will increase total costs by less than 10% because only the increase in variable cost is proportionate to volume; the fixed cost does not change with volume. 3.2 Theweighted average contribution margin per unit is calculated only when performing CVP analysis for multiple products. There are two ways to calculate it: (1) Calculate the total contribution of all products by subtracting
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Accounting is often referred to as the language of business. It is a special-purpose tool for communication about the financial statements and the performance of a company. This can happen through written‚ natural language by selecting words from a standard vocabulary combining them in meaningful ways. These words are then organised into financial reports according to relatively flexible rules of presentation. Accounting dates back to 1494 when Luca Pacioli published a book called Summa de Arithmetic
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What are your reasons for wanting to participate in the TRiO Scholars Program? What sort of experience are you looking for in our program? What do you think you can gain from participating in the TRiO Scholars Program? Please answer in at least a paragraph and no more than a page. Your response will be considered an important part of the application. Throughout my entire high school I have always received aid from my teachers‚ and tutors. In past times‚ this aid has always contributed toward
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in the ------------------------------------------------- INTRODUCTION Accounting is a useful means of assessing the operations of different organizations and entities. Careers in the accounting profession are wide ranging‚ from public practice‚ to commerce and industry‚ education‚ and government. These fields require competence of an accountant. Education‚ as part of competence‚ requires acquisition of new knowledge and continuous improvement‚ to be able to cope with the growing demand for accurate
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last-in‚ frst-out inventory method of accounting (LIFO). In general‚ to use LIFO for federal income tax purposes‚ taxpayers must also use LIFO for fnancial reporting purposes (herein referred to as the LIFO conformity requirement). The use of LIFO for fnancial reporting purposes is not permitted under International Financial Reporting Standards as promulgated by the International Accounting Standards Board (IFRS). As a result‚ a conversion from US generally accepted accounting principles (GAAP) to IFRS
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Materiality and aggregation concept Concept on Prudence Matching Principle Dual Aspect Relevance Concept Introduction Financial accounting has a number of conservative laws which have been considered over the years and all the possible identifiable rules are: Business Entity Concept‚ Money Measurement Concept‚ Going concern Concept‚ Accrual basis of accounting concept‚ Consistency Concept‚ Materiality and aggregation concept‚ Prudence‚ Matching Principle and Dual Aspect 1. The Business Entity
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Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
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opportunity of education enables more students to study in other countries. One destination that I desire to visit is Japan‚ considered as one of the most innovative countries in software development program. The following explanations are the reasons why I want to study in Japan. Japan has a great reputation of education institutions such as University of Tokyo‚ the best university in Asia and the 24th in the world. Furthermore‚ Japan is also one of the leading nations in the fields of
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governmental accounting and financial reporting‚ and its attainment represents a significant accomplishment by a government and its management. (Page 13) b) What are the key issues addressed in the letter of transmittal? Major initiatives in the city of Charlotte are General Government‚ Water and Sewer‚ Aviation‚ Charlotte area transit system‚ and Storm water. (Pages 1-12) 3) Review the Financial Section c) Did the entity receive an “unqualified” audit opinion? If not‚ why not? The
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school and to all have different and unique identities. Everyone always goes off in their own little groups of people that are all similar. People frequently have to change who they are and their identity’s to be in those groups. We often wonder why other people feel the need to change their identity. Some of the main reasons people change who they are or their identity is because of the way others treat them‚ and so they can fit in with groups of people or be similar to other people. To begin with
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