Mary Wang International Financial Reporting Inventory Case Study In the US GAAP, the broad principle given for inventory cost is “the sum of the applicable expenditures and charges directly or indirectly incurred bringing an article to its existing condition and location.” The paragraphs which we looked at included different principles to follow when trying to pin down inventory costs such as guidelines to determine variable overhead costs, fixed overhead costs and normal production capacity as
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Colin Drury, Management and Cost Accounting - Global Ltd Global Ltd. Susan Richardson (University of Bradford Management Centre) This case study is taken from Ducker, J., Head, A., McDonnell, B., O'Brien, R. and Richardson, S. (1998), A Creative Approach to Management Accounting: Case Studies in Management Accounting and Control, Sheffield Hallam University Press, ISBN 086339 791 3. The author wishes to acknowledge Jayne Ducker and Tony Head for their editorial and developmental contributions
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A)Probability distribution of material cost per unit |Material cost |Probability |Cumulative Probability | |33 |0.18 |0.18 | |35 |0.23 |0.41 | |38 |0.32 |0.73 | |39 |0.27 |1.00 | |Total |1.00 | |
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L-3 Communications is a prime contractor in Command, Control, Communications, Intelligence, Surveillance and Reconnaissance (i.e. which we will call C3ISR) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms (L-3 communications; 2011). The company provides services to the U.S. Department of Defense and its prime contractors, U.S. Government intelligence agencies, the
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1.0 ABSTRACT Managerial Accounting is tools for business decision making. The use of management accounting information is a key for organizational success. This essay will explain on the importance of managerial accounting process in organization to successfully carrying out the day to day as well as long term activities and goals. First, it describes how the evolution and change in managerial accounting. Second, the essay looks at the role of managerial accountants. Third, it explains several
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Bonus Assignment Managerial Accounting Pages 427-428 1-10 1. a) FV= 7000(1+.12)^2=$8,780.8 b) FV=7000(1+.12)^3=$9,834.50 c) FV=7000(1+.12)^8=$17,331.70 2. a) FV= 3000(1+.08)^10=$6,476.77 b) FV= 3000(1+.08)^20=$13,982.90 c) FV=3000(1+.08)^40=$65,173.60 3. a) FVA= (1+.06)^5 – 1 x 1000 = $5,637.09 .06 4. a) FVA= (1+.12)^30 – 1 x 4000 = $965,331 .12 5. a) PV= 1______ x 20,000 =$16,792.40 (1+.06)^3 b) PV= 1______ x 20,000 =$14,099.20
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AC 505 Case Study II Springfield Express Luxury Liner A. What is the break-even point in passengers and revenues per month? Break-even point = Fixed cost / Contribution margin Contribution margin = Revenue - Variable cost per unit = $160 - $70 = $90 Break-even point = $3,150,000/$90 = 35,000 Break-even point in passengers is 35,000. Revenue per month is = Break-even point * selling price = 35,000*160 = $5,600,000 B. What is the break-even point in number
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the Census projects that by 2006, the service sector will employ 74 percent of the workforce. This case illustrates why a major segment of the service sector—banks—needs accurate cost information to make strategic decisions, and how more refined accounting systems help fulfill this need. Buckeye National Bank is a hypothetical bank that has suffered falling profits despite a shift in customer base toward retail customers, which the current information system reports are more profitable than
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TOTAL FIXED = $61,000 It?s nice to have a lower total fixed cost, as this is about half of the previous cost. But we?ve added a Variable Cost of $6 per haircut to Andre?s business. It makes it a little harder to figure out the breakeven. Why? Because at 10,000 haircuts the Fixed Costs are $6.10 per haircut and his Variable Costs are $6 per haircut ? and he?s losing money: NEW CONTRIBUTION = REVENUES ? (FIXED COST + VARIABLE COST) At 20,000 haircuts, he makes money, though he?s making
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activitymode.com/product/acc-576-wk-4-assignment-1/ Contact us at: SUPPORT@ACTIVITYMODE.COM ACC 576 WK 4 ASSIGNMENT 1 ACC 576 WK 4 Assignment 1 - Audit Planning and Activities Search the Internet for a recent occurrence of accounting fraud that an independent accounting firm failed to detect. Write a three to four (3-4) page paper in which you: 1. Evaluate the extent of the fraud in question, and suggest three to five (3-5) reasons why the independent auditors failed to detect the fraudulent
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