maintaining the right “balance” of inventory a challenge? Because it affects the tradeoffs in inventory carrying cost and stock out costs, as well as the after values. 2. What are the four (4) types of inventory classifications? Base, buffer, in transit, and speculative stock. 3. What are the components of inventory carrying costs? Obsolesce costs, inventory shrinkage, storage costs, handling costs, insurance costs, interest costs, taxes. 4. Calculate the inventory carrying cost if weekly demand
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and meet their the needs. It consists of numerouselements that are connected together through the movement of products along it. Customer, planning, purchasing, inventory, production and transportation are the components of a simplesupply chain where it starts and ends with the customer. An effective SCM aims to achieve:reduced inventory level, increased speed of transactions and bolstered revenue by increasingcustomer satisfaction. 1.2. Difficulties of Supply Chain Management Even though, an
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SPA Mentoring Akuntansi Keuangan 1 Dilarang Memperbanyak Mojakoe ini tanpa seijin SPA FEUI Mojakoe dapat didownload di www.spa-feui.com Fb: SPA FEUI Twitter: @spafeui SPAMentoring UTS Akuntansi Keuangan 1 Problem 1-‐Conceptual Framework State the accounting assumption, qualitative characteristic, or element that is most applicable in the following cases. 1. Qualitative
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BACKGROUND OF STUDY Inventories are the key resource in an industrial enterprise since NO production is possible without inventories. Inventories also form a major constituent of the cost of the product and therefore proper control over their procurement, storage, issue, movement and consumption is necessary. Before going further it is necessary to define what does inventory mean? Inventories are Assets: a) Held for sale in the ordinary course of business. b) In the process for
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Decision making means process of selecting a logical choice from the available options. In industry, the person who is in charges to making a decision, should weight the positives and negatives of each option, and consider all the alternatives of each option, and consider all the alternatives. “Managerial accounting is concerned with providing information to managers-that is, to those who are inside an organization and who direct a control its operations. Managerial accounting can be constructed
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Analysis of Working Papers of ABC Company Upword Accounting, LLC, in response to concerns regarding requests for information within the working papers, has prepared details to address questions pertaining to the following specific elements: • Adjusting lower cost of market inventory on valuation • Capitalizing interest on building construction • Recording gain or loss on asset disposal • Adjusting goodwill for impairment The details will incorporate the
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Understanding Ken Smith ACC/541 June 02, 2014 Dominick Margarella Client Understanding Mr. Wentworth, this firm in trusted in me a clarified to you the understanding of four important points that will enhance your skills even more as you work at ABC Financial Standards Incorporation. Our amazing staff well encourage you to perform at your honest best meeting with the Securities and Exchange Commission (SEC) which is a government agency, The Financial Accounting Standards Board (FASB) is a private
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3. 4. 5. 6. Understand short-term financial management, net working capital, and the related tradeoff between profitability and risk. Describe the cash conversion cycle, its funding requirements, and the key strategies for managing it. Discuss inventory management: differing views, common techniques, and international concerns. Explain the credit selection process and the quantitative procedure for evaluating changes in credit standards. Review the procedures for quantitatively considering cash
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make-to-stock philosophy. It stocks its finished goods inventory in own warehouse sells the products from an outlet. Customers are the end consumers and independent retailers. This distribution network we call ‘manufacturer and retail storage with customer pickup’. Rajnigandha sources its raw materials from China and Taiwan uses independent transport agency for inbound transportation. Raw materials are stored in the factory which minimizes inventory cost. The company focuses on efficiency not on responsiveness
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Revenue recognition is covered under ASPE – section 3400 (Revenue): Private entities opting to use the ASPE for revenue recognition should use the ASPE guidance. The standard covers the sale of goods and the rendering of services by an entity in the ordinary course of business. Definition: * Revenue is the cash, receivables and other consideration coming into the business from its ordinary business activity. * The completed contract method recognizes revenue when the good or service has
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