Cost Accounting Fundamentals Introduction to Cost Accounting Cost accounting is an internal reporting system for an organisation’s own management for decision making. It is the process of accounting for costs. It includes the accounting procedures relating to recording of all incomes and expenditures and the preparation of periodical statements and reports with the object of ascertaining and controlling costs. It is thus the formal mechanism by means of which cost of products or services are
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Renewable sources of Energy Summary The potential of renewable energy sources is enormous as they can in principle meet many times the world’s energy demand. Renewable energy sources such as biomass‚ wind‚ solar‚ hydropower‚ and geothermal can provide sustainable energy services‚ based on the use of routinely available‚ indigenous resources. A transition to renewables-based energy systems is looking increasingly likely as their costs decline while the price of oil and gas continue to fluctuate
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historical cost accounting still widely and continuously to be used by most companies in their accounting. Conversely‚ reporting current cost in accounting are recommended rather than historical cost as it is the fair value reported in the current year would be beneficial to the firm and the shareholders of the company. 2.0 Historical Cost Accounting and Benefits of Current Cost 2.1 Introduction to Historical Cost‚ Disadvantages and Advantages of Historical Cost The historical cost accounting is
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Reliable Primary Sources Primary sources are original records created at the time or after historical events occurred. Primary sources may include letters‚ manuscripts‚ diaries‚ journals‚ newspapers‚ speeches‚ interviews‚ memoirs‚ photographs‚ audio recordings‚ video recordings‚ research data‚ and objects or artifacts from the time in order for it to be considered reliable. These sources are raw materials that help interpret the past. Not every primary source is completely reliable‚ because they
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READING QUESTIONS DAY ANSWERS 1. Which of the following reading components do you find the easiest and the most difficult? Vocabulary Sentence/Syntax Getting the main idea Comprehension Others:_______________ Easiest: _____________ Difficult: _______________ EASIEST COMPONENTS: Vocabulary - 3 Sentence/Syntax - 11 Getting the main idea - 16 Comprehension - 1 DIFFICULT COMPONENTS: Vocabulary - 5 Sentence/Syntax - 9 Getting the main idea - 5 Comprehension – 11 2. Why do you
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MEAN SCORE Descriptive Statistics N Mean Std.Deviation Discount 196 1.38 .672 Gift Coupon 196 1.47 .603 Free tour 196 1.91 .929 Cash back 196 1.44 .634 Price 196 1.54 .753 Quality 196 1.44 .592 Quantity 196 1.58 .715 Varity 196 1.68 .609 Brand 196 1.66 .641 Durability 196 1.94 .732 Availability 196 2.04 .902 Promotion Scheme 196 2.24 .944 Advertisement 196 2.10 .871 Promotional scheme of Berger paint is very attractive. 196 1.99 .791
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for an order for 2‚500 units of GX1. The company only makes GX1 to order and currently has no other orders in process. The production requirements for GX1 are as follows: Materials: Three types of material are used in production: Amount Cost Resale Current used per unit price value price to buy Material A 12kg £2.50 £1.00 £2.75 Material B 4kg £7.00 £5.50 £8.50 Material C 6kg - £6.50 - Material A is used extensively throughout the company’s range of products
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IT Business Case Template: Voice over Internet Protocol (VoIP) Solutions General Introduction Voice over Internet Protocol (VoIP) is one benefit of the convergence between data and telecommunications. Companies today are seeing the value of transporting voice over IP networks to reduce telephone and facsimile costs and to set the stage for advanced multimedia applications and services such as unified messaging‚ in which voice‚ fax‚ and e-mail are all combined. [Include description of selected
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CHAPTER 11: THE COST OF CAPITAL LEARNING GOALS: 1. Understand the key assumptions‚ the basic concept and the specific sources of capital associated with the cost of capital. 2. Determine the cost of long-term debt and the cost of preferred stock. 3. Calculate the cost of common stock equity and convert it into the cost of retained earnings and the cost of new issues of common stock. 4. Calculate the weighted average cost of capital (WACC) and discuss alternative weighing schemes
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Describe the schedule of cost goods manufactured. How does it tie into the income statement? 5. Why are product costs sometimes called inventoriable costs? Describe the flow of such costs in a manufacturing company from the point of incurrence until they finally become expenses on the income statement. 6. Is it possible for costs such as salaries or depreciation to end up assets on the balance sheet? Explain. 7. “The variable cost per unit varies with output‚ whereas the fixed cost per unit is constant
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