Premium Essay

Assignment No. 1

In:

Submitted By nandiebergado
Words 3433
Pages 14
ASSIGNMENT NO. 1
CHAPTERS 1-3

CHAPTER 1:

Problem 1.1 for Self-Study: What are the Differences between Financial and Managerial Accounting?

Answer:

Financial Accounting
- deals with reporting to people outside the organization
- the users of the financial accounting reports include shareholders (owners) of a corporation, creditors (those who lend money to a business), financial analysts, labor unions, and government regulators.
- Uses historical or current data

Managerial Accounting
- focuses on the activities inside the organization
- many companies call it finance or corporate finance
- no required rules and regulations such as Generally Accepted Accounting Principles or Financial Reporting Standards
- can and does use projections about the future
- managerial accounting information must meet a cost-benefit test or the benefit from providing information must exceed the cost of obtaining the information
- new initiatives such as activity-based costing and the balanced scorecard must pass the aforementioned tests

Problem 1.2 for Self-Study: Match the concept with the definition.
Concept Definition
Cost a. Costs directly related to a cost object
Opportunity cost b. A sacrifice of resources
Expense c. Costs not directly related to a cost object
Cost Object d. Any item for which a manager wants to measure a cost
Direct Costs e. A cost charged against revenue in an accounting period
Indirect Costs f. The return that could be realized from the best forgone alternative use of a resource

Answer:

Concept Definition
Cost b. A sacrifice of resources
Opportunity cost f. The return that could be realized from the best forgone alternative use of a resource
Expense e. A cost charged against revenue in an accounting period
Cost Object d. Any item for which a manager wants to measure a cost
Direct Costs a. Costs directly

Similar Documents

Premium Essay

Assignment 1

...Financial Statement Analysis FINA36675 Assignment One Information Assignment Type: Group Assignment – includes a peer evaluation. Due Date: By the end of class during Week 7. Late Submission: Late from 1 minute to 24 hours = 50% reduction on the mark received (e.g., an 8 out of 10 becomes a 4; a 7 out of 10 becomes a 3.5) Late from 24 to 48 hours = 75% reduction on the mark received (e.g., an 8 out of 10 becomes a 2) 0% thereafter Modification for exceptional circumstances at the instructor's discretion. Note: work conflicts & computer problems are not valid reasons. Groups: Maximum four students per group: You can choose your own groups. Anyone without a group at the end of week 3 will be put into a group at random. Assignment Value: 10 percent of the final mark. The assignment consists of a written report submitted through Turnitin and an in-class presentation for a duration of 10 minutes. Instructions: Step One: You are to select a public company and determine the related industry. In each class, only one group will be allowed to choose one industry group. So, if you want to do “Industrials”, your group has to be the first to request it. Assignment 2 will be based on the same Industry Groups. Step Two: Select your company. It may be an American or Canadian company. Confirm your selection with your instructor, as each group must have a unique company. Step Three: Using SEDAR http://sedar.com or EDGAR http://www.sec.gov/edgar, and other sources (e.g...

Words: 1210 - Pages: 5

Premium Essay

Assignment 1

...General instructions for assignments Assignments The assignments are substantial exercises that you will be asked to complete at the end of a unit or section. They provide an opportunity for you to try out the knowledge and skills that you should have acquired at that stage. Each assignment should be between 3 and 5 pages or 1200 to 1500 words in length. If you have any questions or concerns about the length of your assignment contact your tutor before submitting it. Assignments should be submitted to your tutor through the Assignment Drop Box. Your tutor will receive an email message indicating that your assignment has been submitted for grading. Your tutor will grade your paper, place comments in it, and upload it to the website for you to view or print. When the assignment has been graded and made available on the course website, you will receive an email message notifying you that it is available for viewing. Assignment files should be prepared using MS Word to allow your tutor to insert comments and feedback. If you do not have this software, contact your tutor discuss whether other arrangements can be accommodated. General Advice about Assignments Marks will be lost if you don’t identify all the legal issues that should be discussed in your answer. For most assignments there are at least three or four to be considered. You must review carefully all the facts in the problem scenarios which are there for the purpose of triggering the legal issues. There are no irrelevant...

Words: 1181 - Pages: 5

Free Essay

Assignment 1

...Assignment 1: Essay Due Week 4 and worth 100 points Read the selection in the textbook. Write a three to four (3-4) paragraph essay (250 words) which analyzes the “surprise ending” of the reading selection. APA format. Topic Choices: * Reading selection from Swift’s A Modest Proposal. Swift begins with offering the solution that the English could do things which might solve the problem of over-population and the mistreatment of citizens in Ireland and ends by offering the solution that an internal change in the Irish government would best solve the problem of over-population and a populace victimized by its own government. Read more about A Modest Proposal located at http://www.victorianweb.org/previctorian/swift/modest.html. For the reading selection you choose: 1. Clearly state in your own words the “surprise ending” in the reading you selected. Identify the point in the reading when you realized that the ending would be different from what the beginning of the reading suggested that it would be. 2. Since you were expecting a different ending, evaluate how successful the author was in convincing you to accept the validity of the “surprise ending” that was not clearly suggested at the beginning. * Include a cover page containing the tile of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course...

Words: 333 - Pages: 2

Premium Essay

Assignment 1

...|Assignment front sheet | |Learner Name |Assessor Name | | | | |Date issued |Hand in Date |Submitted on | | | | | |Qualification |Unit number and title | |BTEC Level 3 Extended Diploma/ Subsidiary Diploma in Business |Unit 2: Business Resources | |Assignment no and title | Assignment 1 : Know how human resources are managed | |Criteria reference|To achieve the criteria the evidence must show that | | |Task No ...

Words: 596 - Pages: 3

Free Essay

Assignment 1

...ASSIGNMENT FRONT SHEET No.1 Qualification | BTEC Level 5 HND Diploma in Business | Unit number and title | Unit6: Business Decision Making | Assignment due | | Assignment submitted | | Learner’s name | | Assessor name | | Learner declaration:I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. | Learner signature | | Date | | Grading grid P1.1 | P1.2 | P1.3 | P2.1 | P2.2 | P2.3 | M1 | M2 | M3 | D1 | D2 | D3 | | | | | | | | | | | | | Assignment title | | In this assignment, you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. | Assessment criteria | Expected evidence | Task no. | Assessor’s Feedback | LO1. Be able to use a variety of sources for the collection of data, both primary and secondary | 1.1. Create a plan for the collection of primary and secondary data | Part of report where student individually create the plan to collect primary data and the source of secondary data | 1 | | 1.2. Present the survey methodology and sampling frame used | Part of report where student individually:- Choose a suitable survey methodology for the research: postal questionnaires or interviews with explanations of decisions made- Base on that method, choose a suitable type of sampling method with explanations of decisions made | 2 | | 1.3. Design a questionnaire for the problem | Part of report...

Words: 422 - Pages: 2

Free Essay

Assignment 1

...Assignment Module 1 – Leadership Due Date: by Friday of Week 6  Weight:    20% of final grade  Penalty:    10% for work submitted up to one week late and 25% for work submitted up to two weeks late (work submitted after two weeks will receive a 0%, but must be submitted in order for the course to be completed). The submission to your instructor must be your own analysis. You will be marked on the logic of your written analysis and the application of material covered in the course readings and discussed in the discussion forums | A. Read the Assignment #1 scenario B. Answer each of the following questions ensuring that your response reflects a clear analysis and thorough application of relevant course material. | Feel free to make assumptions about the sub-section in the scenario and attributes of its members in your answers. Each question has a weight of [5] marks. Length of the whole assignment is to be 8 to 10 pages (excluding Title Page). Answer the following: 1. Groups and Teams. Drawing from your knowledge of group dynamics and performance, explain why this sub-section may be ineffective. 2. Decision-making. Select a decision-making approach and explain how you could use it to identify possible problems and potential solutions for this sub-section’s ineffectiveness.    3. Motivation. Select one of the members of the sub-section, and using a theory of motivation, explain why their performance might be low, and how you could help improve it. ...

Words: 741 - Pages: 3

Free Essay

Assignment 1

...LINE_LN = 16, CHUNK_SZ = 1, }; // Assignment 1.c // Usage- ./Assignment\ 1 "filename" // Output- Dumps the hex data of a file // Returns- 2 on error, 1 on warning, 0 on success int main(int argc, char** argv) { // local definitions // file to read FILE* fpFile; // binary data of file unsigned char acByte[MAXSIZE]; // nBytes read is value returned by fread // nCurbyte is the current line being printed as a multiple of 16 // nByteOffset is the current byte being read minus nCurByte // nRet is a value returned by a function int nBytesRead, nCurByte, nByteOffset, nRet; if(argc < 2) { fprintf(stderr, "Error; please enter a file name.\n"); exit(2); } // fopen is unsafe and nReturns an error if((nRet = fopen_s(&fpFile, argv[1], "rb"))) { fprintf(stderr, "Error; fopen_s(&fpFile, %s, \"rb\") = %d\n", argv[1], nRet); exit(2); } // load the entire file into acByte nBytesRead = fread(acByte, 1, MAXSIZE, fpFile); fclose(fpFile); // nBytesRead cannot exceed MAXSIZE so we do not do ultimate bounds checking for (nCurByte = 0; nCurByte < nBytesRead; nCurByte += LINE_LN) { // prints the line number as a multiple of 16 printf("%04x\t", nCurByte); for (nByteOffset = 0; nByteOffset + nCurByte < nBytesRead; nByteOffset++) { // prints the current byte printf("%02x", acByte[nByteOffset + nCurByte]); // only print a space if we are not on the last line if(nByteOffset < LINE_LN - 1) printf(" "); //...

Words: 256 - Pages: 2

Premium Essay

Assignment 1

...0.55 n= 26 4.88 Values of the independent variables: Q = Quantity demanded for 3-pack units P (in cents)= Price of the product = $5.00 per 3-pack unit PX (in cents)= Price of leading competitor’s product = $6.00 per 3-pack unit I (in dollars)= Per capita income = $5,500 QD = -1000 – 420(5.00) + 20(6.00) + 2($5,500) = QD = -1000 – 2100 + 120 +11000 = QD = 8020 KEITH BYCHOLSKI: US? KEITH BYCHOLSKI: the supermarkets would not really be competitors, just locations where you sell your product Running Head: ECO 550 – Assignment 1 3 Bd * P/Q Independent Variables Ep Regression Coefficient (Bd) -420 Independent Variables(P) $5.00 Demand Quantity (Q) 8020 Elasticity -.261845387 Based on the calculation above for the independent variable of price, the elasticity for demand, the absolute value of the coefficient is .2618 indicating that the price elasticity is inelastic. Since the coefficient is less than 1, consumers are less sensitive to price change (Moffatt). If Eating Skinny were to lower their prices, there would little influence on the demand for their...

Words: 666 - Pages: 3

Premium Essay

Assignment 1

...CHAPTER 4 ASSIGNMENT #1 TASK #1 a. Any business knows that marketing expenditures are hard to justify. The most cost-effective marketing is an idea that can be spread by word-of-mouth. The benefit of this type of campaign is that when done right, it can engage Facebook friends, Twitter followers, local press, and national media. The best ideas for this marketing campaign are not expensive. We will try to advertise our product using the most cost efficient modes like local media and brochure printings. We can hire people to distribute brochures which shows our product line and making monthly promotion is such a good idea also. b. More people can learn about the new technology in gardening equipments. They will be ware that our company is existing, our main market target are the common people living in rural areas. We will spend less on marketing ideas but this small markets will be huge when combined. TASK # 2 1. “WHAT WILL BE THE EFFECT OF THIS PROGRAM TO OUR SALES?” SALES WILL RELATIVELY MOVE UP AS MONTHS GOES BY. WE WILL SLOWLY CONTROL THE RURAL AREA SALES AFTER SOME TIME. 2. “WHAT WILL BE THE COST?” COST WILL BE RELATIVELY LOW AS WE ARE TARGETING THE RURAL AREAS AND WILL REQUIRE LESSER EXPENSES FOR US. 3. “WHY WE CONCENTRATE ON RURAL AREAS?” BEAR IN MIND THAT OUR PRODUCTS BASICALLY ARE GARDENERS EQUIPMENT. AND RURAL AREAS PEOPLE NORMALLY HAVE THEIR OWN BACKYARD WHICH WILL REQUIRE USE OF DIFFERENT TYPES OF GARDENING EQUIPMENT. 4. “USING LESSER COST...

Words: 1217 - Pages: 5

Premium Essay

Assignment 1

...Assignment 1 Assignment 1 HRM530 Date: April 22, 2012 1. Describe your approach to this new client in terms of relying upon knowledge you have gained working with other similar situations. South Korean business would be the choice of a new client. In order to effectively adhere to their needs the choice of approach would be the regiocentric staffing approach. This approach will allow us to have an understanding of HRM policies that are given across all the subsidiaries. “This approach considers the needs of the entire region and managers from the host country are often selected for managerial positions in their own country and some may be promoted to regional positions” (McGraw-Hill, 2011). This lets our client know that we are all about finding the best person for the job. This is somewhat the same of what is done in the military in South Korea. The SOFA agreement prevents the United States Government from hiring mostly Americans for the jobs. The agreement is that the Korean Nationals are to hold at least 75% of the jobs on base. That has proven to be true. Every store and restaurant on every base in South Korea is operated by Koreans. It is not easy for any American to get a simple part time job. This is why regiocentic staffing would prove to work effectively. That way jobs are filled based on their nationality in order to keep the confidence of having a new client relationship with the United States. 2. Identify the areas of overlap in the new client organization with...

Words: 1208 - Pages: 5

Premium Essay

Assignment # 1

...Assignment #1 Part A: 1. What are the major differences between pure play e-commerce and bricks-and-clicks operations? What are the benefits and limitations of each? A pure play operation is only online, and there is no physical interaction between the company and the customer. This could be considered a limitation as some consumers rely on physical interaction. A benefit for a pure play operation is that there is online deals, and a large market structure that could provide more consumers if advertised correctly. A bricks-and-clicks operation has both a physical store and sells products or services online. This is a benefit as those customers who buy in the physical store will already know the brand names. There is already an established distribution channel, as well as established customers. A limitation would be that some customers aren't used to buying online or the legacy systems. 2. One of the key motivations for developing an e-commerce site is immediate access to a much larger market. Explain why an increased market reach may have benefits, and describe its limitations. An online market would increase potential sales by advertising to more customers which they might not have reach possibly in a physical store. Limitations would consist of connection problems for customers and perhaps even to the provider's service. Also there could possibly be fraud issues with potential hackers. Another limitation co-insides to the benefit of reaching a new marketing geographic...

Words: 278 - Pages: 2

Premium Essay

Assignment 1

...Unit 1 Assignment 1: Integrated Circuit Technology https://www.google.com/fusiontables/DataSource?docid=1hRaR4o4z9nITGpAQDDoHRWa3fbmxuteHl6RPEhQ#rows:id=1 Processor Transistor count Date of introduction Manufacturer Intel 4004 2,300 1971 Intel Intel 8008 3,500 1972 Intel Intel 8080 4,500 1974 Intel Intel 8085 6,500 1976 Intel Intel 8086 29,000 1978 Intel Intel 8088 29,000 1979 Intel Intel 80186 55,000 1982 Intel Intel 80286 134,000 1982 Intel Intel 80386 275,000 1985 Intel Intel 80486 1,180,235 1989 Intel Pentium 3,100,000 1993 Intel Pentium Pro 5,500,000 1995 Intel Pentium II 7,500,000 1997 Intel Pentium III 9,500,000 1999 Intel Pentium 4 42,000,000 2000 Intel Atom 47,000,000 2008 Intel Itanium 2 McKinley 220,000,000 2002 Intel Core 2 Duo 291,000,000 2006 Intel Itanium 2 Madison 6M 410,000,000 2003 Intel Itanium 2 with 9MB cache 592,000,000 2004 Intel Core i7 731,000,000 2008 Intel Quad-Core + GPU Core i7 1,160,000,000 2011 Intel Six-Core Core i7 1,170,000,000 2010 Intel Quad-Core + GPU Core i7 1,400,000,000 2012 Intel Dual-Core Itanium 2 1,700,000,000 2006 Intel Six-Core Xeon 7400 1,900,000,000 2008 Intel Quad-Core Itanium Tukwila 2,000,000,000 2010 Intel Six-Core Core i7/8-Core Xeon E5 2,270,000,000 2011 Intel 8-Core Xeon Nehalem-EX 2,300,000,000 2010 Intel 10-Core Xeon Westmere-EX 2,600,000,000 2011 Intel 8-Core Itanium Poulson 3,100,000,000 2012 Intel 62-Core Xeon Phi 5,000,000,000 2012 Intel The first processor Intel placed two...

Words: 360 - Pages: 2

Free Essay

Assignment 1

...XXXXXX XXXX Biology 101 15 September 2014 Writing Assignment 1 1. Scientific Method Step 1: Make Observations. A researcher notices that people who drink coffee are at a lower risk of having type 2 diabetes. They wonder if it is because of the caffeine that is inside of the coffee that is responsible for this. Step 2: Propose a hypothesis to explain observation. The researcher hypothesizes that the caffeine inside of coffee reduces the risk of type 2 diabetes. Step 3: Test the hypothesis with further observations or experiments. The researcher sets up an experiment in the lab with two groups of mice (one of 11 and the other of 10). The group of 11 mice are given water and the other group of 10 mice are given diluted black coffee. The experiment is conducted over a five week period. The diets and living conditions are the same for both groups of mice. Blood glucose was monitored and logged each week for all mice. Step 4: Analyze data. After five weeks of the experiment, the researcher realized that there was no significant change in body weight for the mice in each group. The mice that drank water had a significant increase in blood glucose concentrations compared to the mice that drank diluted coffee. The mice that drank the diluted coffee had a 30 percent decrease in blood glucose concentrations compared to the mice that drank water. Step 5: State conclusions about hypothesis based on data analysis. The researcher concludes that the test subjects...

Words: 516 - Pages: 3

Premium Essay

Assignment 1

...PT 1420 Unit Assignment 1: Homework 1. Describe the role of software for computers. computer software can be divided into Application software uses the computer system to perform useful work or provide entertainment functions beyond the basic operation of the computer itself. System software is designed to operate the computer hardware, to provide basic functionality, and to provide a platform for running application software. Malicious software computer software developed to harm and disrupt computers. As such, malware is undesirable. Software is essential to a computer because without software, a computer can do nothing. All of the software that we use to make out computers useful is created by individuals known as programmers or software developers. 2. Identify the hardware associated with a computer. The term hardware refers to all of the physical devices, or components, that a computer is made of. A computer is not one single device , but a system of devices that all work together. Like the different instruments in a symphony orchestra, each device in a computer plays its own part. These are the main components; The central processing (CPU), Main, memory, Secondary storage devices, Input devices, Output devices. 3. Describe how computers store data. A modern digital computer represents data using the binary numeral system. Text, numbers, pictures, audio, and nearly any other form of information can be converted into a string of bits, or binary...

Words: 549 - Pages: 3

Premium Essay

Assignment 1

...September 17, 2014 National Paralegal College Legal Research Assignment 1 Questions 1. Please enter the correct citation for the Supreme Court case of Lamb against California, which was decided on January 7, 1963 and is recorded on page 234 of volume 371 in the United States Reporter. The correct citation for this is: Lamb v. California, 371 U.S. 234 (U.S.1963). 2. Please list all of the courts whose decisions are binding upon the federal court for the District of Massachusetts. There are two courts at the federal level that are binding in the District of Massachusetts. The first binding court is the United States District Courts First Circuit. Decisions made in this court would be binding to lower courts. If the decisions were appealed it would then go to the highest court, the United States Supreme Court. The United States Supreme Court is the highest court in the federal judicial system. This particular court has the ability to grant or deny Certiorari as well. The decisions of the United States Supreme court are binding as well. 3. From the following sources of law within our legal system, list them in the order of most binding to least binding (assume all involved laws are valid) explain why that order exists. a. Federal Constitution b. Federal Legislation c. State Constitution d. State Legislation The Federal Constitution and Federal Legislation are at the top because they are overall general guidelines that are necessary for everyone to follow...

Words: 440 - Pages: 2