FINANCE. COURSE TITTLE: COST ACCOUNTING (BAT 212) ASSIGNMENT QUESTION:- WITH A CASE STUDY, DISCUSS THE IMPORTANCE AND APPLICATION OF COSTING TECHNIQUES IN HOSPITALITY INDUSTRY IN NIGERIA? (CASE STUDY OF YANKARI MASS TRANSIT CORPORATION) By Nwankwo Stephen c. TABLE OF CONTENTS 1.0 INTRODUCTION 1.1 Background of the assignment 1.2 Purpose/objectives of the assignment 1.3 Definition of the term 1.4 Historical background of the case
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questions related to adjusting lower cost of market inventory on valuation, capitalizing interest on building construction, recording gain or loss on asset disposal, and adjusting goodwill for impairment. Inventories of companies are recorded at cost, except when the inventory declines in value below its original cost. When the cost declines below the original cost the company should write down the inventory to report this loss. “A company abandons the historical cost principle when the future utility
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steadfastly believe in its existence, while those of no religion argue for its nihility. Before science became advanced enough to offer valid input, debate consisted solely of historical knowledge and theory, but now is the time when science can be brought into the equation. Based on scientific evidence as well as historical knowledge and theory, the heavens of Christianity do exist. Undeniable scientific evidence has been found of the existence of God and the Heavens. The small amount of scientific
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C H A P T E R 2 CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING LEARNING OBJECTIVES After studying this chapter, you should be able to: •1 •2 •3 •4 Describe the usefulness of a conceptual framework. Describe efforts to construct a conceptual framework. Understand the objective of financial reporting. Identify the qualitative characteristics of accounting information. Define the basic elements of financial statements. •6 •7 Describe the basic assumptions of accounting. Explain the
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customers, title and risk of loss has transferred to said customer, and collectability of payment is highly probable. Net sales are based on the amount invoiced for the goods delivered less future rebates and sales returns & allowances based on the historical experience of the Company. Revenue is recognized net of any taxes collected from customers,
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analyzed the number, price and wait of children showing how it should be consumed. According to Jonathon, this will be able to solve the problem of overpopulation, unemployment and concentrate in growing the economy. Parents will be able to cut their cost and losses hence improving the economy of the nation in general. Jonathan created a surprise ending of this proposal when he transparently stated that the proposal will not affect him in any way for his children are already grown, and his wife is not
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probably has a large amount owed to the bank in loans. Paying back the principal on these loans or paying off notes payable, accounts payable will not all show up on the income statement. 2. Inventory Costing Different choices for inventory costing will determine a higher or lower profit number. With dropping costs, LIFO would give the highest profit number using the costs from the newer inventory against sales. Weighted average would put the company somewhere in the middle averaging the new
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firm's tax rate is 40%. The current price of the 12% coupon, semiannual payment, non-callable bonds with 15 years to maturity is $1,153.72. New bonds could be issued with no flotation costs. The current price of the firm's 10% $100 par value, quarterly dividend, perpetual preferred stock is $116.95. The flotation costs on a new issue would be 5% of the proceeds. 4. The current price of the common stock is $50 per share. The last dividend was $4.19, and dividends are expected to grow at a constant
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Darling (1996), “ …helping customers obtain lower prices by acquiring government-supported commodities, cooperating with noncompeting suppliers by providing complete prepackaged meals to schools, and helping distributors reduce inventory carrying costs and avoid stock outs through reliable, just-in-time delivery” (p. 20). The fourth strategy is becoming a virtual corporation which does not manufacture, sell, or distribute the company’s product (Davis & Darling, 1996). This helps to reduce expenses
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4021 REV: MARCH 1, 2010 ERIK STAFFORD JOEL L. HEILPRIN JEFFREY DEVOLDER Hansson Private Label, Inc.: Evaluating an Investment in Expansion Introduction On a frigid Sunday night in late February 2008, Tucker Hansson pored over a proposal developed by his firm’s manufacturing team. It called for investing $50 million to expand production capacity at Hansson Private Label (Hansson or HPL). For Hansson, a private company, this would be a significant investment. The company had not initiated
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