...CHP3: .Predetermined MOH RATE = Total estimated MO-Cost/Total Estimated allocation base. .MOH allocated to a job = Predetermined MOH rate x Actual amount of allocation base. .Job costing uses applied (Allocated) MOH not Actual .Job Costing: reduces future cost, assess probability, bidding custom orders, prepare cost of goods sold .Step #1 – Estimate total manufacturing overhead for the year. This is a projected amount of manufacturing overhead you expect for all jobs worked on in the next year. Step #2 – Select an allocation base (sometimes referred to as a cost driver) and estimate expected amount to be used for all jobs worked on in the next year. Step #3 – Calculate a Pre-determined Manufacturing Overhead Rate Estimated Total Manufacturing Overhead /Estimated Total Amount of Allocation Base Step #4 – Apply MOH Rate to Individual Job Pre-determined Rate (from above) x Actual Amount of Allocation Base Used by job CHP1: CEO>COO=CFO>Treasurer/Controller/Internal audit<Audit Committee<Board of Directors .SOX-enhances internal control and financial reporting .Planning, directing and controlling CHP2: Variable/Fixed Cost: Total F-Cost+ (Variable x Number of units) = total cost, Total cost/Number of units = Average cost .Period Cost, Product cost, Direct Cost, Indirect cost, Inventorial cost .Sunk Costscosts already incurred, not relevant to future decisions, Differential Costs – cost difference between two alternatives, Marginal Costs – additional cost...
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...First off, standing up for Tom. Atticus states, “It is a sin to kill a mockingbird.” (chp10.pg.103) The mockingbird stands for an innocent person, such as, Tom. Second, leaving their neighbor who stays inside all the time, Boo, alone. Atticus seeks justice for Boo Radley telling them “Stop tormenting that man.”(chp5.pg.54). Third, Atticus trusts Calpurnia, their housekeeper, and values what she has to say. He tells the kids, “We couldn’t operate a single day without Cal.” (chp3.pg.28) This displays that Atticus respects Calpurnia and displays to the kids that he serves everyone...
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...PA: 1 compulsory PB: 3/5 (each A&B) Chp1: Three Issues at the Core of Operations Management * Efficiency * Cost * Quality OM involves managing transformations Key activities that operation (purchasing, resource) Support and general management process Chp3, 5, 7, 11&12, 13, (15&16), 17 Chp3 Page 4 Types of Performance Measure Important categories of organizational performance measures: 1. Financial 2. Customer and Market 3. Quality 4. Time 5. Flexibility 6. Innovation and Learning 7. Productivity and Operational Efficiency 8. Sustainability Exhibit 3.1 The Scope of Business and Operations Performance Measurement Measurement is the act of quantifying the performance criteria (metrics) of organizational units, goods and services, processes, people, and other business activities. Good measures provide a “scorecard” of performance, help identify performance gaps, and make accomplishments visible to the workforce, the stock market, and other stakeholders. Financial Measures • Often take top priority in for-profit organizations. • Traditional financial measures include revenue, return on investment, operating profit, pretax profit margin, asset utilization, growth, revenue from new goods and services, earnings per share, and other liquidity measures. Customer and Market Measures • Customer measures: Customer satisfaction, customer retention, gains and losses of customers and customer accounts, customer complaints...
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...YEAR COURSE OFFERED: 2015 SEMESTER COURSE OFFERED: Spring DEPARTMENT: ACCOUNTANCY AND TAXATION COURSE NUMBER: ACCT 3366 NAME OF COURSE: FINANCIAL REPORTING FRAMEWORKS NAME OF INSTRUCTOR: Vinita Ramaswamy, Ph.D Associate Dean, University of St.Thomas 713 525 6913 email: vram3368@yahoo.com (preferred) ****************************************************************************** The information contained in this class syllabus is subject to change without notice. Students are expected to be aware of any additional course policies presented by the instructor during the course. ****************************************************************************** Learning Objectives This course will utilize a “hands on” approach for the recording and reporting of economic transactions. This course will provide students with a thorough understanding of the accounting process and its application and introduce students to audit, tax and GAAP and IFRS standard setting processes. Prerequisites: ACCT 2231 and ACCT2232 (or concurrent enrollment in ACCT2332) Mission of the Department of Accountancy and Taxation Prepare accounting graduates for leadership roles in the accounting profession; Conduct research that advances the body of accounting knowledge, and inevitably has implications on accounting practice; Perform service that leads to the efficient and effective practice of accounting. Objectives of the Department of Accountancy and...
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