source same End result ! ends with financial statements ! integral part of other business aspects B. Cost Accounting Terminology 1. Nature of Cost Cost - A sacrifice of resources: Cost is a measurement in monetary terms of the amount of resources used for some purpose. Expense - The cost charged against revenue in a particular accounting period. 2. Purposes of Gathering Cost Information Routine decision making:
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Cost of debt When individuals use the cost of debt‚ they should know the measurement of the interest rate‚ or the yield paid to the bondholders. When analyzing the cost of debt‚ people should know that it ’s an effective rate that businesses are willing to pay on the current debt that they have accrued. The cost of debt is a measurement of the before or after tax returns. Considering the case that individuals can deduct the interest‚ makes the tax after cost more popular than the before tax. A business
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Labor Cost Cutting Strategy In a sluggish economy‚ it is more important than ever for businesses to cut costs. Knowing how to reduce the cost of paying employees without reducing product quality‚ dropping employee morale or otherwise sacrificing the way you do business can be the difference between being in the red or the black at the end of the year. Stop the Overtime * Don’t pay overtime unless it is absolutely necessary. Remember that you must pay non-exempt employees 1 1/2 times their
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Choosing lifestyle or medication HCA/240 Choosing lifestyle or medication 1 We have all had some form of gastrointestinal distress at one time or another; it is not a fun time. Some individuals suffer from gastrointestinal disease. One disease I would like to discuss is spastic colon also known as irritable bowel syndrome‚ which is fairly common. Women are more likely to get spastic colon over men and about 20% of the American adult population has it. The types
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Trade Fair Report 4/22/2012 This past weekend‚ I attended the International Trade Fair Expo Lifestyle Shanghai Trade Show with other classmates. The trade show showcased a wide variety of luxury goods‚ from fine leathers‚ to luxurious yachts. There were many yacht brokers‚ dealers‚ and manufactures in attendance‚ showcasing their latest products and services and seeking out new ventures in the field of luxury goods. Upon entry to the event‚ it became clear that this event sought to seek the attention
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economics and business decision-making‚ sunk costs are retrospective (past) costs that have already been incurred and cannot be recovered. Sunk costs are sometimes contrasted with prospective costs‚ which are future costs that may be incurred or changed if an action is taken. Both retrospective and prospective costs may be either fixed (continuous for as long as the business is in operation and unaffected by output volume) or variable (dependent on volume) costs. Note‚ however‚ that many economists consider
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Lesson-13 Elements of Cost and Cost Sheet Learning Objectives • • • To understand the elements of cost To classify overheads on different bases To prepare a cost sheet Elements of Cost Raw materials are converted into finished products by a manufacturing concern with the help of labor‚ plants etc. The elements that constitute the cost of manufacturing are known as elements of cost. The elements of cost include the following: • • • Material Labor Expenses Each of these elements is again subdivided
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pre-determined cost structure to account for and control expenses. WaMu primarily realizes transaction costs‚ fixed costs‚ and variable costs. Because WaMu doesn’t provide free services per-say‚ the sunk costs of the structure are fairly minimal. Transaction costs constitute the next smallest portion of WaMu’s cost structure. WaMu is free of infrastructure based transaction costs like those that smaller retailers who use point of sale services might incur. The primary transaction costs are the commissions
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inventory cost. Some manufacturing personals wanted distributers and retailers to carry more inventories to control the fluctuations in their orders while some thought that the distributers and retailers were already carrying too many goods. Brando Vitali‚ the director of logistics though that there should be an alternative approach to fulfill the order requirements. He thought that both the distributors and retailers are suffering from thinning margins; hence we should find a way to take costs out of
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How to choose the right source for an essay Jessica Pope English Knowing the characteristics of various types of sources will help you select the right ones for your project. There are four questions that should be asked when evaluating an article or a book; 1) When was it published‚ 2) Who wrote it‚ 3) Is the coverage in-depth or is it an overview‚ and 4) Does it provide an answer to my research question? By asking yourself when it was published‚ it helps you evaluate the timeliness of the
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