1. Why did Salem Telephone Company form Salem Data Services? The company was formed to perform data processing for Salem Telephone Company and also sell these services to other customers, because Telephone service is a regulated utility the profits from unregulated data processing services could be used to off-set costs of providing telephone service at regulated prices. This logic was approved by the Public Service Commission as long as the two companies were separate. 2. How long does it
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Response to Discussion Mod 3 1. Job order costing is a system for assigning manufacturing costs to individual products. Job order cost systems is used when products are made based on specific customer orders. Each product produced is considered a job. Costs are tracked by each job. 2. Residential Home Construction company 2a. A Job Order Cost system can be used to help maximize profits in a residential home construction company by measuring and recording direct material cost, direct labor cost
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With the introduction of computer accounting as an area of studying has outline it’s important because with two or three weeks of training, a computer program can prepare financial statement using computer application. Accounting is an important function in the business sector. It helps business to keep records of income and expenses that occurs to the day to day activity of the organization or business. Accounting involve in the preparation of general journal, spreadsheet, ledger sheet and
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Relationship between corporate financial analysis and financial risk Any business will face some financial risk, its objective, not the people's will. However, if the business through good financial analysis, financial risk can be effectively prevented and controlled. In this regard, companies should focus on strengthening the financial analysis of the financial risks of business operations in a variety of financial risks for timely prediction and prevention, so as to improve economic efficiency
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needs to factor in the three lost contracts that RWD could have had, the possible uncollectible debt, and the additional expenses related to EasyPark in order to determine EasyPark’s financial contribution. EasyPark has put a strain on both the accounting and IT departments, which has resulted in a significant amount of overtime that must be paid out. It has been necessary to hire Marcelle’s niece to help process payments and a mail clerk to mail cheques. All of these costs
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Broadening your perspectives Tiffany Tyler ACC/561 November 2, 2015 Sonja Felder Exercise 18.1 Martinez Company has decided to introduce a new product. This new product can be either manufactured by either a capital-intensive method or a labor-intensive method. The method using manufacturing will not affect the quality of the new product (Kimmel,2011). The following are Calculations that will be estimating the breakeven point in the annual unit sales of the new product using the labor-intensive
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resources is realized and secondly, come up with processes and activities that provide high value addition. The application of managerial accounting strategies in any environment are aimed at providing proper planning in all departments to ensure that decisions are well formulated and the organizational resources are utilized to the optimal. Besides, managerial accounting techniques will be sought by financial managers to in preparation of financial reports to enable safeguarding of institutional assets
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Table of Contents Introduction: 2 P1.1: Accounting in tourism or hospitality organization. 3 P1.2: Difference between financial and management accounting 3 P1.3: Difference between a sole trader, a partnership and a limited company 4 P1.5: Use of financial software in Tourism and Hospitality business 5 P1.6: Impact of changes in IT and internet on hotels and airlines 6 P2.1: Double-entry book-keeping 6 P2.2: Calculattion and account for VAT on purchases and Sales 7 P2.3:
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use of historical hindsight page 12 RSM 322 Required Reading for Topics A. Review of the syllabus, responsibility centers and an introduction to case analysis Chapter 5 Part A :Responsibility Accounting E book reading: Sample case – BW Manufacturing company Case Writing Package 2015/16 ( See course web page) B. Introduction to Case Analysis, the importance of cash flow and income, and the relationship between strategy and cost
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Seminar – 7 Chapter 7 Financial Responsibility Centers Financial Result Control System Financial Result Control System results are defined in monetary terms, most commonly in terms of accounting measures such as revenues, costs, profits, and returns. Advantages of Financial Result Control System Financial objectives are paramount in for-profit firms. Financial measures provide a “summary” measure of performance by aggregating the effects of a broad range of operating initiatives across
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