...Household energy consumption is examined in the specific context of home heating expenditures. Analysis of home heat costs across stages of the family life cycle reveals a distinctly different pattern than previously found when total household energy costs were examined. In contrast to the curvilinear pattern where expenditures peak during middle stages of the life cycle, these data show a positive linear relationship where higher costs are associated with elderly consumers. The research focus is expanded to include heat-related conservation behavior as well as expenditures in an effort to better understand implications for policy makers and-marketers. INTRODUCTION According to reports from the Department of Energy, energy consumption in the average home could be slashed by 60% through the use of conservation methods and investment in new products to improve the efficiency of consumption. Toward this end, DOE (1980) survey results show some sort of conservation-related equipment or insulating material was added to 50% of the housing units eligible for Federal energy tax credits in 1977-78. Homeowners in 1980 claimed tax credits on an estimated $4 billion worth of investments in energy saving products primarily related to home heating. Analysts suggest that this investment rate could reach the $30 billion level per year by 1990 (Business Week 1981). As the result of consumer efforts from 1973-1980, DOE estimates that energy consumption per household has been reduced an average...
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...includes all the goods and none of the services produced in an economy in a given time period. B) measures the value of the aggregate production of goods and services in a country during a given time period. C) measures the value of labor payments generated in an economy in a given time period. D) is generally less than federal expenditure in any time period. Answer: B Topic: GDP Skill: Recognition Question history: Previous edition, Chapter 4 AACSB: Reflective Thinking 3) Gross domestic product is a measure of the total value of all A) sales in an economy over a period of time. B) consumer income in an economy over a period of time. C) capital accumulation in an economy over a period of time. D) final goods and services produced in an economy over a period of time. Answer: D Topic: GDP Skill: Recognition Question history: Previous edition, Chapter 4 AACSB: Reflective Thinking Copyright © 2012 Pearson Education, Inc. Chapter 4 Measuring GDP and Economic Growth 493 4) Gross domestic product (GDP) is the ________ in a given time period. A) value of personal consumption expenditures, gross private domestic investment, and federal government expenditures B) sum of wage and salary compensation of employees and corporate profits C) value of all final and intermediate goods and services produced by the economy excluding those goods...
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...that all documents are prenumbered provides a means for accounting for their use and for detecting unrecorded transactions. Thus, a missing check indicates a meal for which a customer did not pay. Since each server has his or her own set of checks, it is also easy to identify which server was responsible for that customer. This policy may help to deter theft (e.g., serving friends and not requiring them to pay for the meal, or pocketing the customer’s payment and destroying the check) because a reconciliation of all checks will reveal that one or more are missing. 2.3 An organization’s AIS must reflect its line of business. For example: • Manufacturing companies will need a set of procedures and documents for the production cycle; non-manufacturing companies do not....
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...Accounting Cycle Description Paper Riordan Manufacture Inc. Accounting Process Team C Acc. /340 Cito Vanegas July 29, 2014 Introduction Riordan Manufacturing Inc. is a leader in their industry which is plastic injection molding. This company could not manually accounting due to the company's wide span corporation. Manually is very time consuming and it is tedious for the high production that Riordan does and services. Riordan Manufacture need to use computer software program to do all Riordan Manufacture accounting needs. This paper will explain how Riordan Manufacture accounting cycle can assist with the strengths and weakness of the internal controls of the cycles. Riordan Manufacture needs to make sure that their company moves forward and smoothly. The Five-accounting cycles The five-accounting cycles are revenue, expenditures, conversion financing, and fixed asset. Revenue is the first-accounting cycle which is the revenue, which includes sales and cash receipts. All sales that Riordan makes form the plastic products that are manufactured needs to be recorded in the accounting information systems. Expenditure is the second of the accounting cycle which includes the expenses of making the product such as material supplies, payroll, and cash disbursements. Conversion is the third-accounting cycle which includes, but not limited to all the plastic production costs to all goods and services that Riordan Manufacture supply. The conversion cycle takes information from...
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...mega event, hallmark event, major event, and minor event. The duration of these events ranges from a single day up to many months in the case of World Expos. Special event produces a wide range of economic and social benefits for communities and regions. This economic and social impact will be assessed in this essay which focused on Wagner’s Ring Cycle held in Adelaide – South Australia in 1998. The Wagner’s Ring Cycle has economic impact as well as social impact to the host community. These impacts, which can be positive and negative, will be discussed particularly through the staging event that made a successful Australia's first original Ring Cycle. First of all, the economic impact is assessed by the information of the expenditure of the attendees and participants (spend how much and on what). The information is also obtained on “switching” for attendees and non-attendees in how much they would spend if the event had not been held in that area. The Wagner’s Ring Cycle event is a three complete cycles performed and each cycle is completed in seven – eight days period. The cost of the ticket range from $450 to $950 for the full cycle included food, drink and accommodation. It covers 8.6 days in average for interstate visitors and 10.7 days for international visitors which including transportation to Adelaide mainly by air. The target audience is narrower than...
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...BUSINESS CYCLE CASE STUDY Traditionally businesses have endured periods of not only high profits and huge sales volumes but also bombarded with those of low sales and low returns. Business managers have devised ways of going around these eventualities.Besides, economies in general have also been faced with periods of slow growth and high growth. These market changes and economic growth fluctuations usually move in a cyclical manner; expansion-peak-contraction-slump-expansion and so on. This cycle of fluctuations in economic activities in a given country or market is known as the business cycle (Harvey, 2015). According to Riley (2012), a business cycle refers to irregular, random changes in the economic activity of a nation or industry over a period of time usually several months or years. These changes leads to increase or decrease in a country’s gross domestic product (GDP). The GDP fluctuations imply an expansion or contraction of the economy. The period of economic growth is called boom while the period of economic decline is called recession. The highest possible growth just before the decline is called the peak while the lowest possible point during recession is known as the trough or the slump. According to Bowlin (2015), one of the main cycles business management will encounter in the life of a business is one that sees four, distinct trends: slowdown, bottom, growth and peak. All businesses, even the most aggressive sales organization in the world, will experience...
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...discuss about jobless rates in U.S. and what factors that have caused it. I use the article which focuses on U.S. to relate about the unemployment topic that I have chosen on. I will generally talk about macroeconomics concepts of GDP, business cycle and unemployment. 2. Macroeconomics Concepts on GDP The gross domestic product (GDP) is one the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period. Usually, GDP is expressed as a comparison to the previous quarter or year. Measuring GDP simply has two ways of doing it, the expenditure approach and the income approach. The expenditure approach is to add up the market value of all domestic expenditures made on final goods and services in a single year. From what I have learned, Final goods and services are goods and services that have been purchased for final use. Intermediate goods and services, which are used in the production of final goods and services, are not included in the expenditure approach to GDP because expenditures on intermediate goods and services are included in the market value of expenditures made on final goods and services. Including expenditures on both...
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...|Exam 1 Review Notes | AIS (This is not exhaustive – just a minimum for study) Study the end of chapter MC in the AIS. Study probs 1.4, 1.8, 2.5, 2.6, 2.8, 3.2, 3.6, 3.16(2,3,7,8,9), 5.3, 5.4, 5.8 Porter’s primary value chain activities Porter’s basic strategic positions Seven characteristics of useful information Five major transaction cycles The data processing cycle Budgeting Source data automation G/L, control accounts, subsidiary ledgers, General Journal Context diagram System flowchart Flowchart symbols Structured, semi-structured, unstructured decision making Data Flow Diagrams (DFDs) and symbols Database Management System (DBMS) and Relational DBMS Schemas and subschemas Database administrator Benefits of DBMS technology Batch processing Online real-time processing Primary key, foreign key, attributes, tuples Data warehouse Data Dictionary Data Definition Language (DDL) Data Manipulation Language (DML) Data Query Language (DQL) Update, Insertion, Delete Anomaly Entity integrity and Referential integrity The following questions are representative of the mc questions that will be on the exam. 1. Which of the following motivators would be a good indication of financial pressure that would contribute to employee fraud? a. a big change for the better in an employee's lifestyle b. an employee suddenly acquires lots of credit cards ...
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...Revenue and capital expenditure are aspects of business management that seem very similar at first. Both revenue and capital expenditure are purely focused on the process of spending money to help a business survive and grow. The key difference between the two is the intention of the expenses and the direction of the money flow. Revenue is for short-term costs that are not used afterwards to make the company grow, such as repairs which are most common. Capital expenditure is for assets that are considered or categorized long-term, such as new vehicles or software, which will be used to make the company stronger. Revenue expenditure is money being spent immediately and exclusively for short-term purposes. These are expenses associated with profit-producing assets, such as repair, that may or may not increase the life of the given asset. Revenue expenditure is more often associated with day-to-day costs the company accrues through its life cycle. Capital expenditure is money is being spent on assets that will increase the company’s ability to pull in profit or operate at a higher performance level. New software technology, vehicles, machinery and tools that will be used for at least 12 months are considered capital expenditure. Capital expenditure, unlike revenue, is looked at more as an investment than a cost, because it is being used to strengthen the company so it can do better business. When purchasing a capital asset, a business either will spread the cost out over the asset’s...
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...PEACHTREE ACCOUNTING SOFTWARE Accounting 352 Course Project Part 1 Elizabeth Pearson July 16, 2013 Professor Nadonya Jackson Section I: Overview Peachtree Accounting Software is a software program made for small and medium sized businesses sold by Sage. This software enables controllers and mangers to automate and manage the numerous accounting tasks involved in a business. Peachtree software can benefit a company by providing accuracy that manual bookkeeping cannot. Some of these tasks include; reconciling accounts payable and receivables, creating financial statements, creating and checking invoices, tracking banking transfers and payroll, importing and manipulating spreadsheets, and integrating scanned documents like checks, receipts and invoices. Peachtree also makes it easy to manage inventory, tracking which of your items are being sold to which customer and how many. Employee management on performance and how to manage and develop your employees is also available through the use of the subscribers of Peachtree Business Care or Peachtree Payroll Systems, where you can receive access to comprehensive human resources information. Peachtree accounting software is intuitive enough that you may be able to dig in and get started, especially if you have some accounting knowledge. The programs are divided into several functional areas, including customers and sales, vendors and purchases, and company (Yakel)...
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...production of goods and services within the borders of a country | Comparison of GDP per capita3 steps | 1. Calculate the GDP per capita ( GDP/population) 2. Convert to a common currency 3. Adjust for the differences in the purchasing power of the currency per country | Economic growth | Growth in production | Welfare/well-being | The sense of contentment or satisfaction people in a society have | Human Development Index (HDI) | A metric to determine the welfare of a population | 3 ways to measure production | 1. Production approach: Adding up the total added value of the goods and services of a country 2. Income approach: Adding up all the remuneration for the resource owners in that country 3. Expenditure approach: Adding up all the expenditure of the country | Gross National Income (GNI) | Total production + Total Income | Production factors of capital | 1. Durable capital goods (>1 year) 2. Floating capital goods (<1 year) 3. Consumables (Added during the processes) | Production factors of labor | 1. The size of population 2. Participation rate | Causes of rises in wage costs | 1. Scarcity of labor market 2. Increased labor productivity 3. Increased consumer price index 4. Increase in social security and contribution policy 5. Increase in average age structure of the labor market | 6 sectors in an economy’s structure | 1. Agriculture 2. Manufacturing 3. Construction 4. Trade, transport and communication 5...
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...discretion, being in a position both to authorize and to process the purchase transactions. Unauthorized purchasing can result in excessive inventory levels for some items, while others go out of stock. Either situation is potentially damaging to the firm. Excessive inventories tie up the organization’s cash reserves, and stock-outs cause lost sales and manufacturing delays. Segregation of Duties SEGREGATION OF INVENTORY CONTROL FROM THE WAREHOUSE. Within the purchases subsystem, the primary physical asset is inventory. Inventory control keeps the detailed records of the asset, while the warehouse has custody. At any point, an auditor should be able to reconcile inventory records to the physical inventory. Supervision In the expenditure cycle, the receiving department is the area that most benefits from supervision. Large quantities of valuable assets flow through this area on their way to the warehouse. Close supervision here reduces the chances of two types of exposure: (1) failure to properly inspect the assets and (2) the theft of assets. INSPECTION OF ASSETS. When goods arrive from the supplier, receiving clerks must inspect items for proper quantities and condition (damage, spoilage, and so on). For this reason, the receiving clerk receives a blind copy of the original PO from purchasing. A blind PO has all the relevant information about the goods being received except for the...
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...In general the economy tends to experience different trends. These trends can be grouped as the business/trade cycle and may contain a boom, recession, depression and recovery. A business/trade cycle is the periodic but irregular up-and-down movements in economic activity, measured by fluctuations in real Gross Domestic Product (GDP) and other macroeconomic variables. Samuelson and Nordhaus (1998), defined it as ‘a swing in total national input, income and employment, usually lasting for a period of 2 to 10 years, marked by widespread expansion or contraction in most sectors of the economy’. These fluctuations in economic activity usually have implications on employment, consumption, business confidence, investment and output. The Keynesian Approach, this theory shows how the collaboration of multiplier and accelerator can lead to regular cycles in aggregate demand. The Keynesians believe that economic activity is generally unstable and is subject to inconsistent shocks, usually causing the economic fluctuations and are attributed to the changes in autonomous expenditures especially investment. The Keynesian approach is pretty simple; higher investment will lead to a larger rise in income and output in the short run. This means that consumers will spend some of their income on consumption goods. This will give rise to further increase in expenditure. Ceteris paribus an initial rise in autonomous investment produces a more than proportionate rise in income. The rise...
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...renewed worsening of the global situation could lead government-linked companies to bankrupt. Extensive development had been made in the debt reform of state-linked entities; however, many entities still continued reliance on foreign funding. Thus, UAE authorities' plans to gradually consolidate fiscal policy. (Reuters, 2012) Which stage in the business cycle do you think the economy is in? Currently the economy is in the Recovery Stage the business cycle is the point at which the economy starts working its way up to better financial footing. The year 2012 will be remembered in the UAE’s history, among others, for economic recovery from the biggest financial crisis in its history starting from 2008. To summarize Dubai went through the classic Phase of expansion in this cycle in the years 2005-2007 the economy of Dubai during this period moved from a normal status to a peak status. It was the period when the business in Dubai is outpourings, and grow national product expands until it reaches a peak. According to Marc Faber, "Dubai went through the classic Phase Three boom in 2005-7; Phase Four of the ‘down cycle doubts’ came in...
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...Public Budgeting Case Study: Republic of Kosova 9/12/2013 [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] Contents 1.0. Introduction 3 1.1. Problem Statement 3 1.2. Report Structure 4 2.0. Methodology 4 3.0. Analyses 4 3.1. Overview of Public Budgeting 4 3.2. Public Budgeting in Kosova 5 Executive Summary Based on ‘Public Budgeting’ book, public budgeting is defined as making and implementing decision regarding the acquisition, allocation, and use of resources by government, with a primary focus on money in the modern age. Similar to budgeting of private companies as well as budgeting of families, public budgeting deals with generation of income, and then planning and monitoring how that incomes are being spent. This study aims to explain and understand the budgeting process in the Republic of Kosova by investigating which are the pros and cons in their process. To compile the report, only secondary data have been used such as literature and publications taken on official websites. Public budgeting, involves in itself some other tasks that sometimes could be incompatible and may erode the ability to perform the other task. These tasks includes: setting goals and priorities, linking goals to actions, managing the economy...
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