Was the existing system adequate in the past? Why or why not? Why is it no longer adequate? The existing system was adequate in the past due to heavy reliance on direct labor hours. The ETO served as a central cost center‚ and transferred the costs to other divisions at direct costs plus allocated burden. Being in the late 1970s and early 1980s‚ technology testing of components required fewer cycles‚ and less complicated structures. Hence‚ such testing on products could be carried out by direct
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Criticism on historical cost accounting 1. Inability to provide useful information in times of rising prices * Assumes that money holds a constant purchasing power‚ so the result become irrelevance in times of rising prices * Received much criticism during high inflation periods of 1970s and 1980s. * Obvious flaw in time of rising prices. 2. Real problem of additivity * Some countries allowed revaluation of non-current assets and the different assets are revaluing
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August‚ 2010 2010-023X Factors Influencing Activity-Based Costing Success: A Research Framework Zhang Yi Fei and Che Ruhana Isa becoming more and more popular [3-7] ABC aims to provide accurate costing information to managers to allocate activity costs to products and services by applying cost drivers [8]. Academics who advocate ABC‚ such as‚ Cooper and Kaplan [9]‚ and Swenson [10] argue that it provides more accurate cost data needed to make appropriate strategic decisions about product mix
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childhood with the audience‚ many of the events that occur and emotions she feels being somethings readers can relate to‚ even if it is in different ways. According to Tom Geoghegan‚ writer of the article “Why is To Kill a Mockingbird so popular?”‚ Harper Lee’s novel is “a huge critical and commercial success” and has gained its popularity through the hundreds of ways it pulls the heart-strings of its readers (1). Geoghegan quotes many writers‚ professors‚ and lecturers who all agree that Lee’s book is an
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Accounting Final Exam 1.) Five forces included in industry analysis Competitors. Potential entrants into the market. Equivalent products. Bargaining power of customers. Bargaining power of input suppliers. 2.) The balanced scorecard translates an organization’s mission and strategy into a set of performance measures that provides the framework for implementing its strategy. The balanced scorecard does not focus solely on achieving short-run financial objectives. It also highlights the
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Benefits of a Cost Accounting Information System By kmoney4islam. Cost accounting offers benefits for manufacturing companies. A cost accounting information system offers benefits for many companies. Cost accounting is a type of accounting method concerned with the cost of goods manufactured and /or sold. Many factors are taken into consideration when cost accountants analyze business costs . The information determined by these accountants is used for inventory valuation ‚ financial statements
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allowing them to play a stabilizing role‚ an important factor in the volatile Middle East. (Phillips‚ James. Heritage.) However‚ Turkish President Erdogan has suspended this alliance made in 1927‚ threatening attacks on U.S special operations forces‚ and bitterly criticizing the U.S’s support of Syrian Kurdish militias. He also mocked Washington’s claim of being “the capital of democracy”. (Toksabay and Gurses‚ Reuters.) Turkey has been the key to success once before‚ when it bordered the Soviet Union
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Datar‚ S.M. and Foster‚ G. (2003) Cost Accounting - A Managerial Emphasis‚ Pearson Education‚ Inc.‚ New Jersey‚ Eleventh Edition CHAPTER 11 DECISION MAKING AND RELEVANT INFORMATION 11-1 The five steps in the decision process outlined in Exhibit 11-1 of the text are: 1. 2. 3. 4. 5. Obtain information Make predictions about future costs Choose an alternative Implement the decision Evaluate performance to provide feedback 11-2 Relevant costs are expected future costs that differ among the alternative
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determine and calculate product cost. The income statements formats of both methods include period and product costs. However‚ each one has a different cost classification definition. Both have the same direct material and direct labor allocation‚ the differences is how they report the income‚ product‚ and pricing One of the main differences between the two methods is the accounting for the fixed manufacturing costs. In variable costing‚ fixed manufacturing costs are looked at as expenses of
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Greek Religious Temples. By: Sydney Fry Thesis The Greek religious temples were very important to the ancient Greek people because they were used to worship the gods. Why were the greek religious temples so important? Why were greek religious temples so important? In ancient greece‚ greek gods were the way of explaining life. They believed that the gods took care of them after they died so the temples acted as homes for the gods. Since the gods lived forever the temple needed to
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