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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CHAPTER AUDIT REPORTS THE AUDIT REPORT WAS TIMELY‚ BUT AT WHAT COST? 3 LEARNING OBJECTIVES After studying this chapter‚ you should be able to 3-1 Describe the parts of the standard unqualified audit report. Specify the conditions required to issue the standard unqualified audit report. Understand combined reporting on financial statements and internal control over financial reporting under Section 404 of the Sarbanes–Oxley Act. Describe the five circumstances when an unqualified report with an
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Internal control is a process that designed to help the organization to accomplish specific objectives or targets by ensuring the reliability of the financial reporting and operated effectively and efficiently. As an internal auditor of Goodner Brothers Inc‚ I strongly believe that an entity should have enough personnel to maintain a proper segregation of duties to prevent misstatement and fraud. In this entity‚ the sales representatives are allowed to access‚ review and even update the details
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Journal article report An experiential‚ social-network based‚ approach to direct marketing By Palmer Adrien Mainstream print and broadcast media have faced major challenges in the recent years‚ with many newspapers facing closure and television channels suffering shortfalls in revenue. Audiences and attention is shifting to online channels. The proliferation of low-cost internet access opened up opportunities for companies to deal directly with millions of individual customers in a way that was
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dependency on foreign direct investment. The paper will start by giving the definitions for major concepts in the question. Secondly‚ a critical analysis of why foreign investment appear to be more productive than domestic investment will be given followed by advantages and disadvantages of a developing country dependency on foreign direct investment. Lastly‚ a conclusion will be drawn. Foreign direct investment (FDI) is defined as a long-term investment by a foreign direct investor in an enterprise
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From the Library of Girro From the Library of Girro@qq.com Introduction to Materials Management SIXTH EDITION From the Library of Girro J. R. Tony Arnold‚ P.E.‚ CFPIM‚ CIRM Fleming College‚ Emeritus Stephen N. Chapman‚ Ph.D.‚ CFPIM North Carolina State University Lloyd M. Clive‚ P.E.‚ CFPIM Fleming College Upper Saddle River‚ New Jersey Columbus‚ Ohio From the Library of Girro@qq.com From the Library of Girro Editor in Chief: Vernon R. Anthony Acquisitions Editor:
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1. Goodner Brothers set ambitious sales goals. In order to achieve these goals‚ they were known to undercut their competitor’s prices. In the text‚ it is pointed out that “To compensate for low gross profit margin‚ Goner scrimped on operating expenses‚ including expenditures on internal control measures.” Goodner Brothers should have not saved on internal control measures so they could have caught Woody stealing their inventory. Goodner Brother’s should have had more employees to have an appropriate
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Cost Classification Introduction: In this assignment I will be discussing how costs incurred in any organization may be classified in a number of different ways for a number of different purposes. I will also be looking to find companies that use a variety of different costing techniques and methods. I will also be discussing the comparisons between marginal and absorption costing and how the concept of activity based costing can also be compared with these. To complete the assignment I will
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the books of a Company Cost Sheet for the period ended…….. Units Produced….. Name of the product unit sold…. Particulars Total cost Rs. Unit Cost Rs. Opening stock raw materials Add Purchases of Raw Materials Add: Expenses on Purchases of Raw Materials (octroi & duty) Less: Closing stock of raw materials Less: Sale of scrap or defectives of raw materials = Cost of materials consumed Add: Productive Labour Add: Outstanding wages Add: Direct Expenses( architect’s fees)
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Scene 1: Characters: Edmund‚ Regan‚ Goneril‚ Albany‚ Edmund: Authoritative‚ Sneaky‚ and Wicked “Know of the duke if his last purpose hold‚ Or whether since he is advised by aught‚ To change the course. He’s full of alteration And self-reproving. Bring his constant pleasure (V‚ I‚ 1-4).” Edmund displays himself as a ruler in full command of the kingdom‚ since the Duke of Albany is indecisive (Authoritative). “To both these sisters have I sworn my love‚ Each jealous of the other as the stung‚ Are
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