Cost Accounting Chapter Module-1 - Introduction to Cost Accounting Definition Cost: - Generally cost refers to all expenses incurred in producing a product or rendering service. But‚ from the cost accounting point of view “Cost is a normal sacrifice of resources in the creation of product or services”. Costing: - Costing is defined as “the technique and process of ascertaining cost of a given thing”. According to CIMA it is defined as “the establishment of budgets‚ standard‚ costs and
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article that I read was What’s The Fuss about Cost of Living? Found on hrmtoday.com‚ written by Chuck Csizmar dated March 29‚2012. Chuck is the founder and principal of CMC Compensation Group‚ an independent global compensation consulting firm. In his article he breaks down the different views employers and employees have on the cost of living issue Employees often complain about cost of living and that their increase does not match or is less than cost of living. As well‚ many employees want their
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MANAGERIAL AND COST ACCOUNTING LARRY M. WALTHER & CHRISTOPHER J. SKOUSEN DOWNLOAD FREE TEXT BOOKS AT BOOKBOON.COM Managerial and Cost Accounting © 2009 Larry M. Walther‚ under nonexclusive license to Christopher J. Skousen & Ventus Publishing ApS. All material in this publication is copyrighted‚ and the exclusive property of Larry M. Walther or his licensors (all rights reserved). ISBN 978-87-7681-491-5 Download free books at BookBooN.com 2 Managerial and Cost Accounting
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The Cost for Knowledge: An Argument against the Rising College Tuition Deciding which college to attend is a choice that many high school graduates will face. Whether it is in state or out of state‚ the variety of colleges is endless‚ but essentially the high cost of attending these institutions significantly cuts the choices down to a minimum. Should rising college tuitions limit the choices for students? No‚ absolutely not. College tuition should be regulated to give fair chances to all students
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WALMART High cost of low prices As Wal-Mart CEO Mike Duke indicated in an October 2008 speech to suppliers in Beijing‚ Walmart’s goal is to operate "a supply chain where goods are made in a way that protects our planet; where customers feel good about the safety‚ quality and durability of the products they buy; and where workers are paid well and treated well with the respect and dignity they deserve. To achieve this‚ we are expecting more of ourselves at Wal-Mart‚ and expecting more of our
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were to be an animal‚ I would be an African Lion. The African Lion is an animal that describes my strengths and attributes perfectly and has characteristics that I would love to call my own. The African Lion has been called “the King of Beasts” for centuries‚ due to its majestic appearance and the fact that it is at the top of the food chain. I too would like the respect the African Lion receives and the title that it has been given. If I were an African Lion I would be able to bake in the African
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What is cost of capital? The cost of capital is the cost of obtaining funds‚ through debt or equity‚ in order to finance an investment. It is used to evaluate new projects of a company‚ as it is the minimum return that investors expect for providing capital to the company‚ thus setting a benchmark that a new project has to meet. Importance The concept of cost of capital is a major standard for comparison used in finance decisions. Acceptance or rejection of an investment project depends on the
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points) Assignment 2: Costs and Profit Instructions Save this file in your course folder‚ and name it with Assignment‚ the section number‚ and your first initial and last name. For example‚ Jessie Robinson’s assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day‚ be sure to save your progress. Review
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Chapter 8 Cost Estimation and Budgeting True/False 1) Direct costs are those clearly assigned to the aspect of the project that generated the cost. T 2) Material is an example of a cost that is recurring‚ variable and direct. T Multiple Choice 1) Which of the following is a direct cost? A) labor B) rent C) depreciation on equipment D) health benefits 2) Workers paid $15.00 per hour with an overhead charge of 1.45 and a personal time allowance of 1.15‚ have what total direct labor cost for an
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summary of the contents of the document.] compaq [Type the company name] [Pick the date] Contents Concept of Cost Accounting……………………………………………………………………03 Introduction……………………………………………………………………………………..03 Traditional costing v/s activity based costing…………………………………………………..04 Need for an Activity Based Costing……………………………………………………………06 Stages in Activity Based Costing……………………………………………………………....08 Cost Drivers…………………………………………………………………………………….09 Classification of activities………………………………………………………………...……10 Steps
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