Chapter 1 An Introduction to Managerial Accounting and Cost Concepts Introduction to Managerial Accounting MSc. Mohammad Hicham Khalil Objectives 1. Comparison of Financial and Managerial 2. 3. 4. 5. 6. 7. 8. Accounting. General Cost Classifications. Product Cost versus Period Cost. Cost Classifications on Financial Statements. Cost Classifications for Predicting Cost Behavior. Cost Classification for Assigning Costs to Cost Objectives. Cost Classification for Decision Making. Review
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Why are small businesses so important to the American economy? What are the growth trends for small businesses? What are the reasons behind these trends? Will they continue? Give examples of how small business affects the economy of the area where you work or live. Small businesses are considered to be the backbone of our economy mainly because they innovate and create jobs at a faster rate than their larger counterparts. According to smallbusinessnotes.com‚ small businesses represent about
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consequently‚ meant they always followed his orders and the army therefore was always in unison and working together to defeat the whites. As a result of Trotsky always travelling around‚ it made communications easy so orders could be sent quickly through people such as Trotsky and this was important for the war as it meant the army could react quickly and always have the upper hand. Also‚ because much of Russia’s industry and raw materials was located along the train lines it made it possible for the Bolsheviks
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( SKUAD ) The Firm 1993 film The Firm is a 1993 American legal thriller film directed by Sydney Pollack and starring Tom Cruise‚ Jeanne Tripplehorn‚ Gene Hackman‚ Ed Harris‚ Holly Hunter‚ Hal Holbrook‚ and David Strathairn Release date : june 30‚ 1993 Director : Sydeny Pollack. Story by : John Grisham Screen play : john Grisham‚ Robert towne‚ David Rabe‚ David Ravfiel. Awards: people choice award for favorite drama movie The Firm follows the main character‚ Mitch
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sold 2630 * Merchandise inventory 2630 Sales 3900 Cost of merchandise sold 2630 Gross profit 1270 Ending inventory 3250 B. * Jan 4 acc rec 3900 * Sales 3900 * Jan 4 cost of merchandise sold 2660 * Merchandise inventory 2660 Sales 3900 Cost of merchandise sold 2660 Gross profit 1240 Ending inventory 3220 Inventory system 1. Perpetua: record sales and cost of merchandise sold uses FIFO LIFO 2. Periodic: records sales only
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for their goals and dreams. And out of all goals‚ the most important ones still being acquired: liberty and equality. However‚ in order to acquire them blood must be spelt. Liberty and equality can only be acquired by blood‚ as mankind can’t ever come to peace with agreements and diplomacy. Humans tend to always use of violence in order to solve problems and acquire what they want. In the French Revolution‚ the third state fought and killed so they could get equal rights‚ and that led to many deaths
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switching costs are low between different brands of Airline‚ consumers are more likely to select well-known names of Airline companies because worth-of-month is importantly affecting Airline companies and safety is the first thing customers will consider. Since the ticket of Airline are usually expensive‚ customers would not give their money to the firms they do not trust. Secondly‚ this industry needs planes and experience of flying which also lowers the threat of new entrants. If a new firm plan to
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act was passed in 2002‚ and is intended to guard investors and the public by increasing the accuracy and reliability of corporate disclosures. (CSO 2012) Management‚ public accounting firms and the U.S public company boards are all affected by the Sarbanes-Oxley Act. Arranged in 11titles‚ but as far as compliance the important sections are considered 302‚401‚404‚409‚ 802 and 906. The SOX Act not only has an impact on the financial side of corporations but also the IT departments that store the corporations
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follows. Cost Items and Account Balances $ Administrative salaries 15‚500 Advertising for helmets 11‚000 Cash ‚ December 1 0 Depreciation – Factory Building 1‚500 Depreciation – Office Equipment 800 Insurance – Factory Building 1‚500 Miscellaneous expenses - Factory 1‚000 Office supplies expense 300 Professional Fees 500 Property Taxes - Factory Building 400 Raw material used 70‚000 Rent on production equipment 6‚000 Research & development 10‚000 Sales commission 40‚000 Utility Costs - Factory
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Galilee College Managerial Accounting Final Exam Overview for Saturday June 8th Instructions A. Complete the budgeting questions and any one of the others. 1. Service Cost Allocations CLASS: Teck Tecky Water Services provides water for Departments A‚B and C and has prepared its total budget using the following information for the next year:- Fixed Costs $300‚000 Budgeted Gallon Usage:- Variable Costs $0.10 per gallon Dept. A 2‚500‚000 gallons Available capacity 10‚000
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