managerial report for decision making. #1 #2 #3 Bloom’s Taxonomy LO2 Understand the basic concepts used in the preparation of financial statements. Critically assess the information relayed by financial reporting. Use financial information for financial and corporate strategy purposes. #4 Cognitive domain: Evaluation [High Order of Thinking Skills] Affective domain: Characterisation LO3 #5 #6 LO4 #5 #6 MBF 1213 Managerial Accounting – MBA Major Module July/August 2013 Assignment
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Cellular (15 points) a. (5 Points)Use Accounting Standards Codification (ASC) 605-25: Revenue Recognition: Multiple Element Arrangements and Accounting Standards Updates (ASU) to determine the appropriate method to recognize revenue for the Power Starterpack. State your reasons and relevant ASC and ASU to support one of the following two alternative treatments: 1) The activation card is not a separate deliverable and not a separate unit of accounting in accordance with ASC 605-25. 2)
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Financial Statements Accounting System 1- Financial Transaction (input): a. Analyze b. Record c. Classify d. Summarize e. Report 2- Financial Statements (output) f. Companies prepare four financial statements from the summarized accounting data: i. Balance sheet ii. Income statement iii. Retained earnings statement iv. Statement of cash flows * GAAP – Generally Accepted Accounting Principles * FASB
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90 D. $2.99 E. $3.89 Contribution margin = $3.89 - $2.99 = $.90 2. A project has an accounting break-even point of 2,000 units. The fixed costs are $4,200 and the depreciation expense is $400. The projected variable cost per unit is $23.10. What is the projected sales price? A. $20.80 B. $21.00 C. $21.20 D. $25.40 E. $25.60 Accounting break-even Q = 2,000 = ($4,200 + $400) (P - $23.10); P = $25.40 3. The Mini-Max Company has the following cost information on its new prospective project
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ADMASS UNIVERSITY Principles of Accounting I CH-1 Part I. Evolution of Accounting Accounting is an old and time –honored discipline .History indicates that all developed societies require certain accounting records. Record keeping is an accounting sense is thought to have begun about 4000 B.C. The record keeping, control & verification problems of the ancient world had many characteristics similar to those we encounter today. For example, ancient government also kept records of receipts
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UCSI UNIVERSITYFACULTY OF BUSINESS AND INFORMATION SCINECE (FoBIS) | Teaching Plan 1. | Unit Code &Unit Title: | BA106 INTRODUCTORY ACCOUNTING | 2. | Course of Study: | BACHELOR OF ACCOUNTING AND FINANCE, BACHELOR OF ACCOUNTING, BACHELOR OF FINANCE AND INVESTMENTS | 3. | Year of Study: | 1 | 4. | Year and Semester: | JAN 2015 | 5. | Credit Hour & Contact Hours: | 3 credit hours Lecture: 3Tutorial: 3Practical: | 6. | Lecturer: | SHAKERIN ISMAIL |
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Cellular (15 points) a. (5 Points)Use Accounting Standards Codification (ASC) 605-25: Revenue Recognition: Multiple Element Arrangements and Accounting Standards Updates (ASU) to determine the appropriate method to recognize revenue for the Power Starterpack. State your reasons and relevant ASC and ASU to support one of the following two alternative treatments: 1) The activation card is not a separate deliverable and not a separate unit of accounting in accordance with ASC 605-25. 2)
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ACC 312 Fundamentals of Managerial Accounting Midterm Exam 1, Spring 2014 Test Form A SOLUTION Name ______________________________________________________________________ UTEID ____________________________________ Instructor ____________________________________________ Class Days ___________________ Time ______________________ DO NOT OPEN until given instructions to do so. Instructions Pages are numbered sequentially, including this page. Confirm that you have 11 pages. 1. Answers
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objectives to achieve in single departments and areas: 1. Cost reduction 2. Quality improvement 3. Capacity improvement Since there are a lot of objectives, we say that performance management is discursive. To manage the achievement of meeting these obj there are different programs: 1. Lean production (for cost reduction) 2. Total Quality Management, Manufacturing Excellence (for quality improvement) 3. Demand Chain Planning (capacity improvement) Since all the objectives can be reached with different
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This refers to placing a value on the transaction to qualify as an element of financial statement.1AS 16 allows two ways of measuring PPE. They are; * Cost model- This is where the PPE is measured at its historical cost and as historical cost accounting demands through matching concept, the historical cost is depreciated over the estimated useful life of the asset. According to the standard PPE when
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