« Official Organ of The Institute of Cost and Works Accountants of India established in year 1944 (Founder member of IFAC, SAFA and CAPA) Volume 45 No. 5 May 2010 ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ IDEALS THE INSTITUTE STANDS FOR q to develop the Cost and Manage-ment Accountancy profession q to develop the body of members and properly equip them for functions q to ensure sound professional
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financial data more effectively and with more efficiency. Software can be designed to meets the needs of any business. Companies have more opportunities with the introduction of the internet and the choices that it offers. Businesses can now reach a vast range of customers. Internet transactions are an example of how to obtain timely, accurate information. Before the advancements in technology,
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MANAGEMENT S T R AT E G Y MEASUREMENT M A N AG E M E N T AC C O U N T I N G G U I D E L I N E Customer Profitability Analysis By Marc J. Epstein Published by The Society of Management Accountants of Canada, the American Institute of Certified Public Accountants and The Chartered Institute of Management Accountants. N OT I C E TO R E A D E R S The material contained in the Management Accounting Guideline Customer Profitability Analysis is designed to provide illustrative information
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alternative approaches to budgeting (viz., zero-base, activity-based, time-driven activity-based, and kaizen budgeting} LO 10-8 Discuss various behavioral considerations in budgeting If you don't know where you're going, you'll end up somewhere else. A Yogi Berra Johnson & Johnson (J&J), one of the largest manufacturers of health care products in the world, started (in 1887) as a small manufacturer of health and well-being-related products. Today, it has more than 118,000 employees and more
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Selex Galileo: A Leader in Defense Systems Amber Tucker Embry Riddle Aeronautical University Managerial Accounting-MGMT 517 Abstract A look inside an Italian-based, leading global defense company reveals roots dating back to discoveries made by the famous, Galileo Galilei in the 1500s. The introduction of the telescope along with the realization of Jupiter’s satellites, and speed of falling objects have been the backbone of Selex Galileo. The company exhibits a strong willingness to work
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should be able to: Distinguish between process costing and job-order costing and identify companies that would use each costing method. 2. Identify the documents used in a job-order costing system. 3. Compute predetermined overhead rates and explain why estimated overhead costs (rather than actual overhead costs) are used in the costing process. 4. Record the journal entries that reflect the flow of costs in a job-order costing system. 5. Apply overhead cost to Work
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ch01 29. The set of activities that transforms raw resources into the goods and services of an organization is called: A. Value chain. B. Supply chain. C. Demand chain. D. Cost-benefit analysis. 30. Which of the following activities would not be considered a value-added activity? A. Production B. Marketing C. Accounting D. Distribution 31. Which of the following statements is false? A. In essence, the value chain and the supply chain are similar; each creates something for which the
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what she should know about management functions. BE1-2 The Sarbanes-Oxley Act (SOX) has important implications for the financialcommunity. Explain two implications of SOX. BE1-3 Listed below are the three functions of the management of an organization. 1. Planning 2. Directing 3. Controlling Identify which of the following statements best describes each of the above functions. BE1-4 Determine whether each of the following costs should be classified as direct materials (DM), direct labor
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CHAPTER 4 ACTIVITY-BASED PRODUCT COSTING QUESTIONS FOR WRITING AND DISCUSSION 1. Unit costs provide essential information needed for inventory valuation and preparation of income statements. Knowing unit costs is also critical for many decisions such as bidding decisions and accept-or-reject special order decisions. represent a significant proportion of total overhead costs. 8. Low-volume products may consume nonunit-level overhead activities in much greater proportions than indicated
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performance from the standard performance, discovers the causes of such deviations and helps in taking corrective actions. Process of Controlling : Process control is extensively used in industry and enables mass production of consistent products from continuously operated processes such as oil refining, paper manufacturing, chemicals, power plants and many others. Process control enables automation, by which a small staff of operating personnel can operate a complex process from a central
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