less than if you´re an investor * Managers Financial accounting – provides info for managers and people outside the firm. Managerial accounting – provides confidential info for internal decision-makers (“private” or internal accounting). GAAP – Generally Accepted Accounting Principles. Most countries are converging to US GAAP or IFRS as a generally accepted standards. Private companies do not file IFRS. Qualities of accounting * Relevant * Reliable * Consistent (over time)
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Managerial Accounting and Organizational Controls Unit 1 Individual Project By Allen Neff For this project I will be using the supplied data below: Suppose we are running a restaurant and have identified certain costs along with the number of annual units sold of 1000. Item: Raw Materials (cost for hamburgers) Total Annual Cost: 650 Item: Building Rent Total Annual Cost: 9000 Raw materials: The raw materials for
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are your explicit costs? Cost of pogo sticks 75,000 Employees wages 40,000 Utilities 6000 Taxes 7000 Advertising 7500 Total = 135,500 b. What is your accounting profit? Total revenue – total expenses = accounting profit 180,000 – (75,000 + 40,000 + 6,000 + 7,000 + 7,500) 180,000 – 135,500 = 44,500 Accounting Profit = 44,500 c. What are your implicit costs? 50,000 annual salary as an assistant store manager 14,400 yearly income of building rental 5000 per year of interest
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importing goods to the United Kingdom. I will also be describing my chosen business and the three products and their prices that I have chosen. I will also be identifying a target selling price for my products. In this assignment I will include a per unit cost statement, a five year budget income statement and will also do a five year net present value appraisal of my new business. I will also be including my initial investment costs. I will also be providing a recommendation for the business and a
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"The Cost of Complexity" Please respond to the following: * Read the article titled, “The Missing Metrics: Managing the Cost of Complexity,” located in Week 4 of the online course shell. You may also view the article at http://www.financepractitioner.com/contentFiles/QF02/g26fs3i7/16/0/the-missing-metrics-managing-the-cost-of-complexity.pdf. Next, in a globalized economy with many business complexities, speculate the major ways that these complexities might impact a business and suggest two (2)
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3 711 Chapter Tax Accounting TRUE-FALSE QUESTIONSCHAPTER 13 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. A partnership may adopt any tax year without IRS permission. A corporation ling its rst return must annualize its income if the tax period is less than 12 months. A taxable year may be as short as one day and may exceed 366 days. Under no circumstances may a corporation change its scal year without IRS permission. A taxpayer engaged in two or more separate and distinct businesses
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Accounting Standards & & Regulation – 22420 – A Autumn 2013 3 ASR A gnmen Part 2 A Assig nt – P 2 Contents: ge: General Notes for P Part 2; next p page: this pag General No otes for Part 2 of the Assignment 1) Rec commended Start: you m may start this s part of the assignment at any time. 2) Sub bmission Dea adline: 20th M May, 2013 (5 pm) through h turnitin in U UTSOnline (A Assignments) 3) Hea ading require (in bold): Name – St ed tudent ID – Tutorial Num T mber –
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Precision Worldwide, Inc. Case Study BUS5431 – Managerial Accounting Summary Precision Worldwide, Inc. (PWI) manufactures industrial equipment and parts for sale in numerous countries. Repair and replacement parts account for a substantial part of the company’s business with the replacement part in question, steel rings, occur in the machines manufactured only in PWI’s German plant, but can also be used on some competitor’s machines. This steel ring has an average normal life of about 2 months
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FIN 370 Week 3 Team Assignment Caladonia Products Integrative Problems Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser https://hwguiders.com/downloads/fin-370-week-3-team-assignment-caladonia-products-integrative-problems/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Solutions Guide: 1. We focus on free
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reporting for external users is to provide useful economic information about a business to help external parties, primarily investors and creditors, make sound financial decisions. These users are expected to have a reasonable understanding of accounting concepts and procedures. Usually, they are interested in information to assist them in projecting future cash inflows and outflows of a business. 2. (a) An asset is a probable future economic benefit owned by the entity as a result of past
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