COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with recording
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SCENARIO 1 Assume that a planet called Zion exists. In Zion‚ NEXUS is an inter-galactic enterprise that leases spacecraft to aliens for a fee. All spacecraft owned by NEXUS can be used for daily rental or contract based rental. Aliens can be classified as Warlord or Explorer. The data for all aliens are stored for recording purposes. Each spacecraft is fully equipped at the time it is rented out. However‚ an alien can request for additional equipment to be installed. Such equipment includes zap-gun
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ASSIGNMENT ON COST CONTROL AND COST FREDUCTION SUBMITTED BY‚ MOHAMMED NAFAISE E.K ROLL NO: 1600 COST CONTROLL & COST REDUCTION COST CONTROL The practice of managing and/or reducing business expenses. Cost controls starts by the businesses identifying what their costs are and evaluate whether those costs are reasonable and affordable .Then if necessary
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Confilct Scenario paper Conflicts are more common than not in this day and age. You can have a conflict in a work or school environment over anything. In order to fix most conflicts there has to be an open communication. Lack of communication can cause more problems than fix them. Since Greg does not want to talk to me‚ I’ll start by sending him an email stating that I did not understand what I did wrong. I would like him to email me back to let me know what was going on. Then if I
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Actual abuse Scenario A member of staff at a nursery called busy bee nursery found out that one of the children she was teaching had bruises‚ she noticed that they were not ordinary bruises which they would get at their age. Also they were in areas which were strange like his stomach‚ underarms and on his back. The staff members were worried for his safety because they were not caused by accident like the child bumping into a hard object or tripping up. Response: The correct response would be
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Prenatal and Postpartum Scenario PSY/280: Human Growth and Development November 18‚ 2010 Professor Donald Collins Memo To: Pregnant and Postpartum Women From: Developmental Psychologist Dr. Sanchez Date: November 18‚ 2010 Subject: Prenatal and Postpartum Activity List Taking care of your health is essential not only for your own personal benefit but also to the well being of your growing baby. The importance of a healthy diet and exercise cannot be more critical during the pregnancy
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Fight Club exemplifies various ethical dilemmas relating to cultural standards‚ organizational structure‚ and ethics systems. These ethical dilemmas are presented through both personas of the main character‚ Tyler Durden. The situations that he faces can be related to real-life ethical issues that are relevant today. Fight Club illustrates many ethical notions that tie strongly to the culture of the organization and the situations that arise. The culture that exists around the fight club is founded
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The Toronto Ultimate Club Alison Sutherland BUSI 3334 March 11th‚ 2013 Table of Contents 1.0 Problem Statement3 2.0 Situational Analysis3 2.1 SWOT Analysis4 3.0 List of Alternatives6 4.0 Choice and Rationale8 5.0 Implementation and Control 8 Problem Statement: Toronto Ultimate Club is located in Toronto‚ Ontario‚ and is an organization that focuses on growing the sport of Ultimate Frisbee by offering leagues in the Toronto area. Since the development of their strategic plan
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Generally‚ the term cost of production refers to the ‘money expenses’ incurred in the production of a commodity. But money expenses are not the only expenses incurred on the production of a commodity. There are number of services and inputs such as entrepreneurship‚ land‚ capital etc.‚ which are offered by an entrepreneur without changing any price or receiving any payment for them. While computing the total cost of production‚ allowance should be made for such expenses. It is therefore essential
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| SDLC Scenario | Verizon | | Ivan Anjum | DeVry University | This paper was prepared for Human Resource Information Systems 340 taught by Mrs. Katsianis | I am trying to choose the best model for Verizon in upgrading their technology quickly and efficiently. The best SDLC model to use for Verizon‚ in my opinion would be the waterfall model. The reason why the model is beneficial to Verizon is that it requires the least amount of time to implement the new technology to their
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