1. Evolution of management accounting practices using IFAC model. As per IFAC (1998), there are four stages of evolution of management accounting. Prakash (2013) stated that the framework is provided to explain the developement of management accounting as to promote better understanding in changes in management accounting. Four stages of evolution of the focus of management accounting are shown in the figure 1 and describes as below. Stage 1 occurs prior to 1950 where most of the companies were
Words: 637 - Pages: 3
PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF DEGREE OF POST GRADUATE DIPLOMA IN MANAGEMENT (FINANCE) By Abhay Goyal 13DM006 Under the guidance of Dr. Girish Jain Mr. Anil Kumar Professor DGM (F&A) Accounting and Finance ONGC BIMTECH New Delhi 2013-15 TABLE OF CONTENTS CONTENTS CERTIFICATE FROM MENTOR v CERTIFICATRE FROM HR vi SUMMER PROJECT CERTIFICATE vii ACKNOWLEDGEMENT viii LETTER OF TRANSMITTAL ix LETTER OF AUTHORIZATION
Words: 12141 - Pages: 49
bookkeeping B. Bookkeeping, mergers, budgets C. Cost accounting, production scheduling, recruiting D. Auditing, taxation, management consulting Read more: 4) The conceptual framework developed by the Financial Accounting Standards Board __________. A. are rules that all accountants must follow B. was approved by a vote of all accountants C. is legally binding on all accountants D. is viewed as providing a constitution for setting accounting standards for financial reporting 5) In what
Words: 1894 - Pages: 8
Literature Review: Key Research Sources Journal of Cotemporary Accounting and Economics The Journal of Contemporary Accounting & Economics is committed to issuing high quality manuscripts that thoroughly apply economics and legal theory to accounting and auditing with an emphasis on realistic research. Although there is a special focus on issues relevant to the Asia-Pacific region, the Journal of Contemporary Accounting & Economics also encourage proposals from countries outside the Asia-Pacific
Words: 708 - Pages: 3
Chapter 5 Discussion Questions |5-1. |Discuss the various uses for break-even analysis. | | | | | |Such analysis allows the firm to determine at what level of operations it will break even (earn zero profit) | | |and to explore the relationship between
Words: 7868 - Pages: 32
products being processed. | | C. | | Because indirect costs are easy to trace to products and jobs. | | D. | | It allows managers more timely determination of product costs during the manufacturing process. | | | 4) In a job order cost accounting system, the Work in Process account is | | A. | | closed at year end | | B. | | a control account | | C. | | a period cost | | D. | | an expense | | | 5) Which one of the following is an important feature of a job order
Words: 2208 - Pages: 9
Accounting Cycle Description Team A Deborah Holmes, Tami Jackson, Nicole Savana, Maria Despenza ACC 340 August 7, 2014 Paul Andoh Accounting Cycle Description MARIA: Identify the five accounting cycles and explain how this organization uses the accounting cycle you have selected. DEBORAH: Comment on the strengths and weaknesses of the internal controls related to this cycle. TAMI: Explain how you would integrate this part of the accounting cycle into an enterprise-wide accounting
Words: 376 - Pages: 2
the industry. SAP ERP, which is a part of the SAP business suite, is mainly divided into four major groups as stated on their ERP homepage. The first is SAP ERP Financial. This solution helps organizations in automating financial and management accounting. The module also helps organization also helps organizations to follow corporate governance mandates easily with extensive support. The second module is SAP HCM or Human Capital Management. This module, which supports organizations of almost any
Words: 796 - Pages: 4
Computerized accounting Practice set (For Netsuite User) William T. Sucuahi INTRODUCTION Information is one of the vital resources of a company. The accounting department is the biggest contributor of this information in the entire enterprise. The information provider should provide timely and precise information to make good decisions. As computer applications became main stream, transforming data into information has gradually migrated into computerized spreadsheets. Gradually,
Words: 3959 - Pages: 16
Todd Schueler Week 2 Assignment 1: Wilkerson Company Case Analysis Questions 3, 4, and 6 Saturday, April 05, 2014 3.) The estimated product costs for valves, pumps, and flow controllers using ABC for overhead activities (primarily Ex. 1 & 4) and direct cost data from the Exhibits are: * The Valves total product variable costs are $195,000, the Valves total fixed costs are $149,990.31 and the Activity Based Costing Valve cost per unit it $46. * The Pumps total product variable
Words: 1063 - Pages: 5
