ACCOUNTING IN CONTEXT POTTER I LIBBY I LIBBY I SHORT ACCOUNTING IN CONTEXT BRADLEY N. POTTER University of Melbourne ROBERT LIBBY Cornell University PATRICIA A. LIBBY Ithaca college DANIEL G. SHORT Texas Christian University Boston Burr Ridge, IL Dubuque, IA Madison, WI New York San Francisco St. Louis Bangkok Bogotá Caracas Kuala Lumpur Lisbon London Madrid Mexico City Milan Montreal New Delhi Santiago Seoul Singapore Sydney Taipei Toronto Copyright © 2009 McGraw Hill
Words: 7672 - Pages: 31
One secret to maintaining a thriving business is recognizing when it needs a fundamental change. 50 Harvard Business Review 1711 Johnson.indd 50 | December 2008 | hbr.org 10/30/08 2:02:02 PM Reinventing Y our Business Model by Mark W. Johnson, Clayton M. Christensen, and Henning Kagermann Jim Frazier IN 2003, APPLE INTRODUCED THE IPOD WITH THE ITUNES STORE, revolutionizing portable entertainment, creating a new market, and transforming the company. In
Words: 6529 - Pages: 27
Cost management lecture slide summary Lecture 1 Reasons for US growth 1977-‐2007: end of cold war; China; spread of Internet; Financial deregulation and easy. Business inputs: land; material; labour; capital; enterprise; technology. Business decisions bound inputs with outputs Output: goods, service, information and data
Words: 1253 - Pages: 6
ACCOUNTING METHODS Presentation of the course Introductory course 4 “intensive” days Theory, terminology, practical examples Suggested readings: Elliott, Barry; Elliott, Jamie: "Financial Accounting and Reporting", Prentice Hall 2012, 15th edition. Horngren, Bhimani, Datar and Foster: "Management and Cost Accounting." Prentice Hall, 2007, 4th edition. Info What to expect from this course: An introduction to the discipline to prepare you for the proceedings of
Words: 6361 - Pages: 26
The Business Plan Hi-Tech Power Systems 2/18/2015 Group C2 Anubandh Leela Mohit Chivukula Moumita Dutta Sanjit Kumar Moharana Sai Alekya Reddy Edara OBJECTIVE: “To serve the segment of lighting and signaling in the Indian Railways and all public sector undertaking firms using indigenous technology.” EXECUTIVE SUMMARY BACKGROUND Indian Railways is India’s largest state owned enterprise. It serves more than more than 23 million passengers daily (roughly half of which were
Words: 2382 - Pages: 10
selling price and variable cost of production. Break-even Chart A mathematical or graphical representation, showing approximate profit or loss of an enterprise at different levels of activity within a limited range. Break-even Point This is the level of activity there is neither a profit nor a loss. Cash Break-even Point It is the level of activity where there is neither a cash profit nor a cash loss. Cost Break-even Point It is the level of activity where the total
Words: 4311 - Pages: 18
step in management's decision-making process is to determine and evaluate possible courses of action. 2. In making decisions, management ordinarily considers both financial and nonfinancial information. 3. In incremental analysis, total variable costs will always change under alternative courses of action, and total fixed costs will always remain constant. 4. Accountants are mainly involved in developing nonfinancial information for management's consideration
Words: 2378 - Pages: 10
step in management's decision-making process is to determine and evaluate possible courses of action. 2. In making decisions, management ordinarily considers both financial and nonfinancial information. 3. In incremental analysis, total variable costs will always change under alternative courses of action, and total fixed costs will always remain constant. 4. Accountants are mainly involved in developing nonfinancial information for management's consideration
Words: 2378 - Pages: 10
Group Case Project: Absorption Costing vs. Variable Costing Javkhlantugs Altansukh Ana Barrios Cameron R. Bates Kyle Brown Absorption Costing Absorption costing is a costing system in which the direct labor, direct materials, and fixed and variable manufacturing overhead costs are traced to every finished product. Thus, in the absorption costing system, all costs are product costs regardless of their classification of variable or fixed. Because of its characteristic of no cost
Words: 4183 - Pages: 17
units to break-even Sales − Variable cost − Fixed cost = Profit (Sales price x N) − (Variable cost per unit x N) = Fixed cost + Profit (Contribution margin per unit x N) = Fixed cost + Profit N = (Fixed cost + Profit) ÷ Contribution margin per unit N = ($750,000 + $200,000) ÷ ($57 − $32) = 30,000 units Break-even dollars = $57 x 30,000 units = $1,710,000 b. N = ($750,000 + 21,000) ÷ ($57 − $32) = 38,000 units Sales in $ = $57 x 38,000 = $2,166,000 Exercise 3-2B N = Number of units to break-even N = Fixed
Words: 3122 - Pages: 13
