gooda available for sale. -the consistency principle states that the busineses should use the same accounting methods from period to period. -under the FIFO‚ the ending inventory is based on the cost of the most recent purchases. -the value of purchases remains the same irrespective of the inventory valuation method used. -using FIFO‚ the COGS is based on the oldest purchases. -the accounting conservatism principle requires that financial statements should report LEAST favorable figures. -do
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Accounting: Topic 6: Analysis And Interpretation Of Financial Statements (Part 2) Capital Structure Analysis Proportion of debt financing relative to equity financing (=gearing or leverage) * Reflects the entity’s financing decisions * Investments in assets are funded externally by liabilities‚ or internally by owner’s as shown in accounting equation (A=L+OE) Debt to equity ratio: Total liabilities/ Total equity x 100=x% Debt ratio: Total liabilities/ Total asset x 100=x%
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Cost Accounting -- MIDTERM 1 1) Pointed Pencil company incurs the following costs in its manufacture of pencils. Classify each one of them according to one of the value chain functions: Functions: A) Research and Development B) Design of products‚ services‚ and processes. C) Production D) Marketing E) Distribution F) Customer Service G) Strategy and Administration ____ 1) Cost of wood used in manufacture of pencils. ____ 2) Cost of wood used in packing cartons to ship pencils. ____
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Costs assigned to the building of a house should appear on the income statement when Answer a. the purchase order to manufacture the house is received. b. the house is sold. c. cash is collected for the sale of the house. d. the house is completed. The basic document for keeping track of costs in a job order costing system is a Answer a. labor time card. b. job order cost card. c. process cost report. d. materials requisition form. The following information is available at the
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BM6026 - Managerial Accounting & Finance Mini Assignment - Sem 1 2014/2015 Name : Suriati Binti Yusse Matric no : MB1412199T Class : Tuesday - 7.00PM - 10.00PM product selling price Variable Cost : Material : Extract of Tongkat Ali Other Ingredients Packing Material Overhead Cost : Drying cost of liquid Other Overhead Cost Labour Cost : Processing Packaging Total Variable Cost Unit Contribution Margin Expected volume sales % of total sales Weighted Contribution Q1 : capsule
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Andrew Jackson: More Than a Common American Andrew Jackson‚ the seventh president of the United States‚ remains one of the most controversial figures in American history. Some accounts portray Jackson as a heroic and courageous man‚ who proved his mettle in various military endeavors‚ most notably the War of 1812. Others‚ however‚ judge Jackson more harshly‚ as they are deeply offended by his actions regarding Native Americans during his presidency. Andrew Jackson presented himself as a man of
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Role of Financial Managers The financial manager plays an important role in the functional areas of finance. The assignments of finance functions to the financial manager depend upon size of the business enterprise. The larger the business enterprise- the greater degree of specialization of tasks is needed. The financial manager is the key persons in any business enterprise. The function of finance manager includes budgeting and investing funds‚ accounting‚ products pricing and forecasting. The
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Thomas "Stonewall” Jackson was a man of humble beginnings. He‚ himself‚ was a humble man. However‚ he possessed many qualities that under the right guidance would make him one of the great American military generals. His experiences during the Mexican War would have the greatest impact in molding him into the great leader he was. Stonewall Jackson began his military training at The United States Military Academy at West Point. Not having the same financial and educational advantages as his classmates
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world what is the role of a financial manager? We have all heard at one time or another that "a financial managers wears many hats." The role of the financial manager has expanded beyond traditional responsibilities related to company ’s finances. A financial manager though his/her understanding of the company ’s financial health‚ the current market‚ and the goals of the company helps set directions and guides decision making. The role of the financial manager is undergoing enormous change. He/she
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CHAPTER 9 Reporting and Analyzing Long-Lived Assets ANSWERS TO QUESTIONS 1. For plant assets‚ the cost principle states that plant assets are recorded at cost‚ which consists of all expenditures necessary to acquire the asset and make it ready for its intended use. 2. In a cash transaction‚ cost is equal to the cash paid. In a noncash transaction‚ cost is equal to the cash equivalent price paid‚ which is the fair market value of the asset given up or the fair market value of the asset received
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