Executive summary Cost management is a critical technique to every business firm; the main issue for manager making decision is cost control and profit maximization. This report aims to analyze the different cost occur in a real business based on a case study of Gearbulk Australasia Pty Ltd such as costing systems and value chain. The main methodologies we used in this project are face to face interview of the company’s line manager who called Bryan. It provides us lots of insights of cost control and
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Analysis TUTORIAL - WEEK 10 Accounting for Financial Instruments and Foreign Currency Transactions Learning Objectives: 1. Understand what is a financial instrument‚ and how can they be categorised. 2. Accounting for a particular type of financial instrument – a “compound instrument” 3. Understand the accounting treatments of foreign currency transactions at: Date of transaction; Balance date (if applicable); Settlement date. 4. Analyse the accounting treatment of foreign exchange differences
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and managerial accounting‚ the first differences has to do with the primary users of the reports; in financial accounting the reports are used by external users such as stockholders‚ creditors and regulators. On the other hand managerial accounting reports are used by internal users and include officers and managers. In addition the type and the frequency of the reports differ; financial accounting have financial statements and quarterly and annually are for general purposes while managerial reports
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University of Phoenix Material Role of Financial Accounting versus Managerial Accounting Matrix Compare and contrast financial accounting and managerial accounting by answering the following questions in the matrix provided. Cite any sources you use in accordance with APA guidelines. Term or Concept Financial Accounting Managerial Accounting What is the primary purpose of the accounting system? The main purpose of financial accounting is to prepare financial reports that provide information
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EntertainmentNow.com Prepared for Dr. Lucian Zelazny Department of Accounting McCoy College of Business 601 University Drive San Marcos‚ Texas 78666 Prepared by Veronica Piña Rupinder Singh Ashley Vollmer April 23‚ 2013 EntertainmentNow.com Case Overview EntertainmentNow.com is considered one of the world’s leading Internet retailers of entertainment products that sells an array of books‚ music‚ videos‚ and DVD’s‚ toys‚ and small electronics on the company’s International website
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E2.5. Classifying Accounting Items a. Current asset b. Net revenue in the income statement: a deduction from revenue c. Net accounts receivable‚ a current asset: a deduction from gross receivables d. An expense in the income statement. But R&D is usually not a loss to shareholders; it is an investment in an asset. e. An expense in the income statement‚ part of operating income (and rarely an extraordinary item). If the restructuring charge is estimated‚ a liability is also
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COMPREHENSIVE ILLUSTRATION QUESTION 1 ABC Bhd uses material X which obtain from an outside supplier. Each delivery of material X consists of 30‚000 kg at a cost of RM5 per kg. The cost of ordering is RM10 per order. The lead time for delivery can vary between 12 and 18 days and the rate of usage of material X also varies between 320 and 480 kg per day. Stockholding cost amount to 9% per annum of the average stockholding value. Required: Calculate the following: |Re-order level in kg
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CHAPTER 4 JOB COSTING 4-1 Cost pool––a grouping of individual indirect cost items. Cost tracing––the assigning of direct costs to the chosen cost object. Cost allocation––the assigning of indirect costs to the chosen cost object. Cost-allocation base––a factor that links in a systematic way an indirect cost or group of indirect costs to cost objects. 4-2 In a job-costing system‚ costs are assigned to a distinct unit‚ batch‚ or lot of a product or service. In a process-costing system
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Intermediate Accounting Review Exam 3 Chapter 4 Statement of Cash Flows (SCF): is an essential component within the set of basic financial statements. Is presented for each period for which results of operations are provided. Operating Activities: inflows and outflows of cash related to the transactions entering into the determination of net operating income. Cash inflows include cash received from: 1. Customers from the sale of goods or services. Ex./ collection of cash from customers
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SOAL LATIHAN CHAPTER 18 ASISTENSI COST ACCOUNTING UNIVERSITAS BAKRIE 1. 18-16 The following data‚ in physical units‚ describe a grinding process for January : WIP‚ beginning 19‚000 Started during current period 150‚000 To account for 169‚000 Spoiled units 12‚000 Good units completed and transferred out 132‚000 WIP‚ending 25‚000 Accounted for 169‚000 Inspection occurs at the 100% completion stage. Normal spoilage is 5 % of the good units passing inspection
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