used by management to ensure that a specific event is accomplished as planned. According to Roberto Mockler, controlling is “a systematic effort by business management to compare performance to predetermined standards, plans, or objectives to determine whether performance is in line with these standards…” (Certo & Certo, 2009). Therefore controlling goes hand-in-hand with the planning aspect of organizational management. In order for organizations to properly plan and control events, it is
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46 Accounting Standard (AS) 2 (revised 1999) Valuation of Inventories Contents OBJECTIVE SCOPE DEFINITIONS MEASUREMENT OF INVENTORIES Cost of Inventories Costs of Purchase Costs of Conversion Other Costs Exclusions from the Cost of Inventories Cost Formulas Techniques for the Measurement of Cost Net Realisable Value DISCLOSURE Paragraphs 1-2 3-4 5-25 6-13 7 8-10 11-12 13 14-17 18-19 20-25 26-27 The following Accounting Standards Interpretation (ASI) relates to AS 2: ASI 2 - Accounting
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Labor Standards Act (FLSA), an employer must pay an employee overtime pay for any amount of work over forty hours. They do not, however, have to pay for work on “Saturdays, Sundays, holidays, or regular days of rest, unless overtime hours are worked on such days.” Overtime pay amounts to at least one and one half times the regular rate of pay. Weekend and night work does not require overtime or additional pay by FLSA standards, but an employer may make that agreement. (Wages) The cost of overtime
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Pay structure in a company depends upon several factors. E.g… wage settlements. Labour market situation. Company’s nature and size. etc. Pay structure consists of certain grades. Scale and range of pay in each scale. Each scale has aminimun and a maximum limit. Jobs places within a particular grade carry the same value though the actual pay in a grade depends upon length of service and or performance of the employee. Pay structure in India generally consists of the following components
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that can be reduced by several internal control procedures. According to Hunton, Bryant, and Bagranoff (2004), the assessment of IT risks are by the managers and auditors to determine how to apply resources (p. 51). The cost-benefit analysis is crucial to ensure that the cost of the internal control to reduce the risk does not increase the monetary value of the control. The purpose of the internal control application is to create a smooth operating procedure that does not deter effectiveness and
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Revised Fall 2012 CHAPTER 8 FLEXIBLE BUDGETS, STANDARD COSTS, AND VARIANCE ANALYSIS Key Terms and Concepts to Know Static or Planning Budgets Used for planning purposes Prepared at the beginning of the period Based on one projected level of activity Flexible Budgets Used for control purposes Prepared at the end of the period “Flexed” to accommodate actual level of production Use costs (variable and fixed) and revenue formulas from static budgets Revenue Variance Difference between
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gathering information. My limitations included: * Time constraint * Lack of pertinent information Chapter 2 GAINSHARING APPROACHES Gainsharing programs actively encourage employees and employers to work together to solve the problems of cost, quality, and production
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following issues: * Enterprise resource planning (ERP) * Initial cost and (TCO) * Scalability * Web integration * Legacy system interface requirements * Processing options * Security issues 3. What is enterprise resource planning (ERP) and why is it important? What is supply chain management? * Enterprise resource planning (ERP) defines a specific architecture, including standards for data, processing, network, and user interface design. It is important because
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98 AS 6 (revised 1994) Accounting Standard (AS) 6 (revised 1994) Depreciation Accounting Contents INTRODUCTION Definitions EXPLANATION Paragraphs 1-3 3 4-19 Disclosure 17-19 MAIN PRINCIPLES 20-29 94 AS 6 (issued 1982) Depreciation Accounting 99 Accounting Standard (AS) 6* (revised 1994) Depreciation Accounting [This Accounting Standard includes paragraphs set in bold italic type and plain type, which have equal authority. Paragraphs in bold italic
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Accounting for Health and Welfare Benefit Plans Kayla Helms Abstract Health and welfare benefit plans include many types of plans. These different plans can fall under one if two categories: defined benefit plans and defined contribution plans. These plans differ in how contributions to the plans are made. Overall Employee benefit plans can be separated into three different topics. These topics are: defined benefit pension plans, defined contribution pension plans, and health and welfare
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