enough understanding on the accounting process, this project aims at applying theory into practice. The annual report project in the first term of our accounting course in MBA is assigned to us to make us learn everything we can about one company using its annual report, the internet, the press, stock market and contract with company officials. Thus, this annual report project on Unilever Nepal Limited (UNL) is prepared as a part of learning practical applicability of accounting processes. Objectives
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monitoring. Job costing is an accounting method used to assign product costs to custom products or services. In job costing, direct costs are traced and overhead costs are allocated to individual jobs. Sometimes defects occur in custom products. Defective units can sometimes be reworked. The costs for both spoilage and rework need to be accounted for, as does the cost of scrap that arises from production. This Chapter Addresses the Following Questions: How are costs assigned to customized goods and
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ACCOUNTING 256 FIRST MIDTERM Review Problems Multiple Choice—Choose the best answer. Managerial accounting is concerned with: The company as a whole, rather than with the segments of a company. The data needs of stockholders and creditors. The relevance and flexibility of data rather than precision. Meeting the requirements of generally accepted accounting principles. Recording the financial history of the organization. The basic difference between managerial and financial accounting
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review related to Capital Shortage. The cost-cutting options I selected were Reducing Agency Staff and Reducing Length of Stay. The reason I selected Reducing Agency Staff for one of the cost-cutting options is because contract worker’s make twice the amount of a regular full-time employee, therefore equating to cost savings. On an additional note, I would also have a job fair in order to recruit full-time workers in order to replace agency staff. The second cost-cutting option I selected was Reducing
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ACCOUNTING INFORMATION SYSTEM EXERCISE Pham Quang Huy Exercise 1. Nehru Gupta is the controller at the Acme Shoe Company, a large manufacturing company located in Franklin, Pennsylvania. Acme has many divisions, and the performance of each division has typically been evaluated using a return on investment (ROI) formula. The return on investment is calculated by dividing profit by the book value of total assets. In a meeting yesterday with Bob Burn, the company president, Nehru warned that
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Case 09-4 NeedsSpace: Removal Cost of all leasehold improvements Leasehold improvements are investments made to customize buildings and offices occupied under operating lease contracts to make them suitable for the intended purpose. The present value of estimated reinstatement costs to bring a leased property into its original condition at the end of the lease, if required, is capitalized as part of the total leasehold improvements costs. At the same time, a corresponding liability is recognized
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The current file of an auditor’s audit documentation most likely would include a copy of the | | | Flowchart of the internal control activities. | | | Articles of incorporation. | | | Bank reconciliation. | | | Pension plan contract | | | According to the auditing standards, which of the following terms identifies a requirement for audit evidence? | | | Adequate. | | | Reasonable. | | | Disconfirming. | | | Appropriate. | | | During the confirmation
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CHAPTER 26 Marginal Costing and Cost Volume Profit Analysis Meaning Marginal Cost: The tenn Marginal Cost refers to the amount at any given volume of output by which the aggregate costs are charged if the volume of output is changed by one unit. Accordingly, it means that the added or additional cost of an extra unit of output. Marginal cost may also be defined as the "cost of producing one additional unit of product." Thus, the concept marginal cost indicates wherever there is a change in the
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assessment of project performance (how much work has been accomplished) for the money consumed. Basically, EVM allows a comparison between actual and planned costs and schedules, thus, it is a useful tool to gauge a project current status (Venkataraman, 2008, p. 111). EVM enables an organization to detect a potential problem with the costs and scheduling of a project early and make appropriate adjustments to achieve project success. Earlier detection of potential problems allows project management
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statements and the cost of capital for public companies. The report further discusses the main advantages and disadvantages of the law, what changes should be made to it, and why the legislation cannot guarantee the accuracy of public company financial statements despite the attention CEOs and CFOs are paying to the law. Outside Independent Audit Firms Under SOX independent audit firms perform audit reviews of financial filings, in accordance with the Generally Accepted Accounting Principles (GAAP)
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