Question 1 Use the data below to answer Parts (a) through (c). Show all calculations in your solutions. On January 1‚ 20X2‚ Haika Inc. purchased 60% of the outstanding voting shares of Selina Co. for $3‚000‚000. On that date‚ Selina’s shareholders’ equity consisted of retained earnings of $2‚000‚000 and ordinary shares of $1‚000‚000. Selina’s identifiable assets and liabilities had fair values that were equal to their carrying values on January 1‚ 20X2‚ except for the following: | Fair value
Premium Balance sheet Generally Accepted Accounting Principles Depreciation
Lean Manufacturing and the Toyota Production System The use of the term "Lean"‚ in a business or manufacturing environment‚ describes a philosophy that incorporates a collection of tools and techniques into the business processes to optimize time‚ human resources‚ assets‚ and productivity‚ while improving the quality level of products and services to their customers. Becoming "Lean" is a commitment to a process and a tremendous learning experience should you attempt to implement Lean principles and
Premium Toyota Production System Lean manufacturing Toyota
What is Lean Six Sigma? Lean Six Sigma is a combination of two powerful methods: Lean and Six Sigma. By combining both methods‚ it gives your team a comprehensive tool which increases the speed and effectiveness of any process within the organization. Resulting in reduced costs‚ improved collaboration and increased revenue. Lean- Lean is popular for its methodical approach to streamlining both manufacturing and service processes by eliminating waste will continue to deliver value to customers. A
Premium Six Sigma Six Sigma Business process
costs Labor costs of assembly-line workers $110‚000 – Direct labor Sales commissions $35‚000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including
Premium Balance sheet Inventory Manufacturing
modeling‚ training‚ and coaching to create their current culture (Kinicki & Williams‚ 2013). Leading for Shareholder Value (LSV) and the Verizon Leadership Development Program (VLDP) made the changes possible (Kinicki & Williams‚ 2013). The Verizon Lean Six Sigma (VLSS) was also implemented into the cultural changes (Freifeld‚ 2013). The Leading for Shareholder Value was one of the main factors for the cultural change (Kinicki & Williams‚ 2013). This was an education program designed to increase
Premium Management Leadership Employment
Waiting time There are some main problems that causes unnecessary waiting time. First of all the casting machine often breaks down and this kind of stop results in a lot of waiting time for the process and the workers. To repair a broken down machine takes at least 3 hours up to 12 hours. When the machine breaks down the production in the melting work centre is stopped which for example makes the level of inventory increase. Since the company only have one machine there are a lot of unnecessary
Premium Management Manufacturing Tool
The lecture last night discussed accrual accounting concepts such as timing issues‚ and the basics of adjusting entries. The discussion went into more detail on periodicity assumption and how accounting divides the economic life of a business into artificial time periods. These time periods are generally a month‚ a quarter‚ or a year‚ now whether it is a fiscal year or a calendar year that is determined by the company itself. The lecture then reviews the revenue recognition principle which expects
Premium Generally Accepted Accounting Principles
Comparing Accounting Software Programs to Manual Accounting Manual accounting uses several paper ledgers to record financial transactions. It is very time consuming to record each single transaction onto paper‚ being very cautious not to make an error. There are several ledgers for each part of the accounting system‚ such as accounts payable‚ accounts receivable‚ and revenue accounts. Combining these ledgers into one general ledger‚ provide the balance for each ledger. The general ledger
Premium Accounting software Accounts receivable Accounts payable
Accounting for Managers TOPIC A: AN INTRODUCTION TO ACCOUNTING Investors – Individual and groups provide initial capital. Creditors – Company which loans money to another company (Suppliers/Bank). Managers – Oversee the day-to-day operations. What is accounting? * Process of Recognising‚ measuring‚ recording (also known as transactions)‚ disclosing and attesting to information. *Information – Decision Making (Value Creation)‚ Control (Monitoring). Process of Accounting: Transactions
Premium Balance sheet Generally Accepted Accounting Principles International Financial Reporting Standards
Table of Contents Case 1 Introduction Jill’s business is expanding while the up going GST prevent her from gaining more profits. The idea of replacing the labor with the help of new equipment will bring about an unprofitable break-even point. However Jill still insist on borrowing from bank to invest in the equipment regardless of the CVP analysis result‚ which raised some ethical issues. Analysis Question 1 Defining the stakeholders There are 5 major stakeholders arising
Premium Net present value Internal rate of return Cash flow