founded by Aaron Reinholtz to produce a gain marketed under the name 'Castlles and Unicorns'. Each C & U caused the company $35 to produce. IN addition to this production costs that varied in direct proportion to volume (so called variable costs), the company also incurred $10,000 monthly 'being in busdiness' costs (so called fixed costs). AS of December 31st, Reinholtz had been producing C & U for 3 months using rented facilities. Reinholtz was very pleased to be operating at a profit in such a short
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ABDULLAHa*, MAHARJAN KESHAV LALLb AND KIMBARA TATSUOc a University Putra Malaysia b Hiroshima University c Hiroshima University ABSTRACT In a dynamic market, firms need to evolve from traditional to strategic purchasing which aims to reduce the cost of the purchase and that might imply standardization of components, delivery time and levels of inventory. This effort will usually include key suppliers as joint problem solvers and with these problem-solving models to work with; the firm’s attitude
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Auditor ? Q2. Explain the consistency concept and Accrual Concept of Accounting. How is the Accrual Concept adhered to while preparing the final accounts of a company ? Q3. What are intangible assets of a firm ? Why are they shown in the Balance Sheet ? What is meant by amortisation of such assets ? Give reason for the same. Q4. What do you understand by Appropriation of profit of a company? How are the profits appropriated ? How will the profits to be appropriated, affected, if the company
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CHAPTER 17 (FIN MAN); CHAPTER 2 (MAN) JOB ORDER COSTING EYE OPENERS 1. Product cost information is used by managers to (1) establish product prices, (2) control operations, and (3) develop financial statements. 2. a. Job order cost system and process cost system. b. The job order cost system provides a separate record of each quantity of product that passes through the factory. c. Process cost systems accumulate costs for each department or process within a factory. 3. Job order costing is used by
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Present arguments for capitalizing all of the above costs. Your arguments should utilize the conceptual framework definitions and concepts. In order to figure out what kind of cost should be capitalizing or expense, we should know about the difference between capitalizing and expense. The word capitalizing means to record the amount of the item in a balance sheet rather in a income statement. However, the expense means the money spent or cost incurred in an organization that contributes to generate
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Asset and Liability Management Pada Bank Komersil Hinsa Siahaan [1] Abstraksi Risiko tingkat bunga adalah salah satu masalah tradisionil yang sangat penting diperhatikan dalam ALM (Assets and Liability Management). Meskipun risiko tingkat bunga merupakan masalah klasik tetapi masih tetap sangat krusial dalam manajemen aktiva dan kewajiban bank. Mengapa ? Oleh karena risiko tingkat bunga adalah sangat memengaruhi kinerja sebuah bank. Sebagaimana kita ketahui sasaran akhir atau The Ultimate
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concerning about R&D costs. FASB ASC 730-10-20 demonstrates the definition of research and development. FASB ASC 730-10-05 stipulates general accounting arrangement to R&D cost. In general, most R&D costs are expensed in the periods incurred, because (1) R&D costs entail a high degree of uncertainty regarding the amount and timing of future benefits, and (2) R&D costs are difficult to match with future revenues due to a lack of direct relationship between R&D costs and future revenues
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This case contrasts a standard cost system with an actual job cost system, and thereby brings out several points about cost accounting, including: the purposes for which cost accounting data are used; the paperwork involved in cost accounting; the use of costs for pricing; the problem of controlling costs under the two types of systems; and the problem of the normal overhead rate. Students may have difficulty in seeing that: (1) in the Conley standard cost system, costs are not traceable to individual
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price rises. Both of the terms are technically used in stating the law of demand. Question 3. :-Opportunity cost / alternative cost? Answer:-It is measure in terms of the forgone benefits from the next best alternatives use of a given resources in simple words scarifies or loss of alternative use of a given resource is turn as an opportunity cost. The alternative or opportunity cost of one unit of product A is the amount of product B that has been sacrificed by allocating the resources to produce
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Cost Allocation at Water Purification Group Mary May pushed the door to her office thinking about her plan to enrol her daughter for a medical degree at a private university. The private university is the only institution of higher learning that her daughter can apply for, considering her high school results. Mary sat down at her table and a smile came to her lips. Her financial situation will definitely improve after the company, Bio-Organics, announce this year’s bonuses. Project ORG7 she was
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