Introduction to Cost and Management Accounting Lecturer: Nadini Persaud Contact Information: Email: nadini.persaud@cavehill.uwi.edu npersaud07@yahoo.com Office Location: Upstairs Main Library Tel: 417-4296 (DOMS General Office) 417-4297 (NP Office) March 2nd 2013 mid-term exam Contents Decision Making 3 Theory of Constraints 4 IMA Guidelines for Ethical Behavior 4 Competence 4 Confidentiality 5 Integrity 5 Credibility 5 Corporate Social Responsibility
Premium Costs Variable cost Cost
CHAPTER 6 MASTER BUDGET AND RESPONSIBILITY ACCOUNTING 6-16 (15 min.) Sales budget‚ service setting. 1. |McGrath & Sons |2009 Volume |At 2009 |Expected 2010 |Expected 2010 Volume | | | |Selling Prices |Change in Volume | | |Radon Tests |11‚000 |$250 |+5% |11‚550
Premium Budget Inventory Variable cost
100 Costs term 1. Absorption costing is a costing method that includes all manufacturing costs - direct materials‚ direct labor‚ and both variable and fixed overhead - as part of the cost of a finished unit of product. 2. Administrative costs are all executive‚ organizational‚ and clerical costs associated with the general management of an organization rather than with manufacturing‚ marketing‚ or selling. 3. Allocation base is a measure of activity such as direct labor-hours or machine-hours
Premium Variable cost Costs Cost
Fundamentals of Cost and Management Accounting Part Four: Allocation of Support Department Costs‚ Common Costs and Revenues Exercise No. 4 الاسم: الرقم الأكاديمي: رقم الشعبة: Choose the best answer for every question of the following questions: 1) Max’s Movie Store encounters revenue-allocation decisions with its bundled product sales. Here‚ two or more of the movie videos are sold as a single package. Managers
Premium Balance sheet Generally Accepted Accounting Principles Income statement
II TRUE/FALSE 1. Overhead costs are a major part of costs for most companies – more than 50% of all costs for some companies. Answer: True Difficulty: 1 Objective: 1 2. At the start of the budget period‚ management will have made most decisions regarding the level of variable costs to be incurred. Answer: False Difficulty: 1 Objective: 1 At the start of the budget period‚ management will have made most decisions regarding the level of fixed costs to be incurred. 3. One way to
Premium Variable cost Costs Cost accounting
Introduction: The basic objective of accounting is to provide information that is useful in making business and economic decisions. What makes accounting information useful for decision-making? The answer is however the accounting information confirms to the qualities that should be possessed by the financial and cost & Managerial reporting. In view and addition to this‚ the importance of strategic cost management and costing techniques like Activity based costing should not be underestimated. This
Premium Management accounting Cost accounting Costs
Contents Introduction "Workforce planning is about having the right talent with the right skills‚ at the right time and cost‚ to support the organization’s strategy. Workforce planning is a strategic response to changes in workforce demographics‚ business models and economic conditions – and in today’s environment‚ it’s more important than ever.” - Watson Wyatt Telecom’s industry is evolving at breakneck speed and the demands of the customer are forcing
Premium Human resource management Human resources
PRESENTATION TOPIC: MERGERS AND ACQUISITIONS‚ MODERN THEORY OF CORPORATE CONTROL COURSE INSTRUCTOR: MIRIE MWANGI GROUP MEMBERS: STUDENT | REGISTRATION NUMBER | BANCY WANGUI | D61/60453/2011 | ISAAC NYAMORA | D61/66960/2011 | JACQUELYNE M. ODERO | D61/62818/2010 | JOSEPHINE M. ODERA | D61/63410/2010 | MATTHEWS WAUYE | D61/63904/2010 | SAMUEL GATHUA | D61/64121/2011 | TIM SILOMA | D61/60464/2011 | ABSTRACT In today’s globalised economy‚ mergers and acquisitions (M&A) are being increasingly
Premium Mergers and acquisitions
Difference between historical cost and fair value accounting In order to make the most profitable and rational decisions entity’s stakeholders have to evaluate organisation’s financial statements. Today’s world of rapidly changing prices has made it difficult to estimate what something is actually worth. Thus leading to debates at what price – historical costing price or market value – assets and liabilities should be reported. Therefore‚ before making any evaluations about reported transactions
Premium Balance sheet Generally Accepted Accounting Principles Asset
Which of the following defines variable cost behavior? Total cost reactionto increase in activity|Cost per unit reactionto increase in activity| a.|remains constant remains constant| b.|remains constant increases| c.|increases increases| d.|increases remains constant| ____ 2. When cost relationships are linear‚ total variable prime costs will vary in proportion to changes in a
Premium Variable cost Costs Fixed cost