have gained in all of FA1 and in FA2 through to the end of Module 5. This assignment is worth 5% of your final grade. If this is your first time using the Online Learning Environment, check out the Course Orientation and the quick tutorials in the Support Centre. General assignment FAQs can be found in your Assignment/Group Work area. Prepare the answers to these assignment questions in Word and save them as one Word document on your hard drive. For the recommended format and filename, se
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of SOX. BE1-3 Listed below are the three functions of the management of an organization. 1. Planning 2. Directing 3. Controlling Identify which of the following statements best describes each of the above functions. BE1-4 Determine whether each of the following costs should be classified as direct materials (DM), direct labor (DL), or manufacturing overhead (MO). (a)Frames and tires used in manufacturing bicycles. (b) Wages paid to production workers. (c) Insurance on factory
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Financial Accounting For Dummies From Financial Accounting For Dummies by Maire Loughran Financial accounting is the process of preparing financial statements for a business. The three key financial statements are the income statement, balance sheet, and statement of cash flows, and they serve two broad purposes: to report on the current financial position of the company, and to show how well the company performs over a period of time. Investors, creditors, and other interested parties rely on
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Fi FINANCIAL STATEMENT ANALYSIS (section 2) ch 19 -creditors and investors use financial statement analysis to predict expected return and assess risk (variability in the return) HORIZONTAL ANALYSIS: -the study of percentage changes in comparative statements -eg. identifying that sales increased by 20% since last year is more useful than knowing sales increased by $20,000 -can be used to calculate all figures (including COGS, expenses, etc) -don’t calculate a percentage change
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Accounting for non-accounting students eighth edition John R. Dyson ACCOUNTING FOR NON-ACCOUNTING STUDENTS Visit the Accounting for Non-Accounting Students, eighth edition Companion Website at www.pearsoned.co.uk/dyson to find valuable student learning material including: G G G G Multiple choice questions to help test your learning Extra question material Links to relevant sites on the web Glossary explaining key terms mentioned in the book We work with leading authors to develop
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of SOX. BE1-3 Listed below are the three functions of the management of an organization. 1. Planning 2. Directing 3. Controlling Identify which of the following statements best describes each of the above functions. BE1-4 Determine whether each of the following costs should be classified as direct materials (DM), direct labor (DL), or manufacturing overhead (MO). (a)Frames and tires used in manufacturing bicycles. (b) Wages paid to production workers. (c) Insurance on factory
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CHAPTER 5 Cash Flow, Profitability, and the Cash Flow Statement QUESTIONS Q5-1. With cash accounting revenue is recognized when cash is collected and expenses are recognized when cash is paid. Under accrual accounting, revenue is recognized when earned and expenses are matched to the related revenue. With accrual accounting a transaction or economic event can be recognized in the accounting system before, after, or at the same time as cash is exchanged. Q5-2. Net income isn’t
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that would use each costing method. 2. Identify the documents used in a job-order costing system. 3. Compute predetermined overhead rates and explain why estimated overhead costs (rather than actual overhead costs) are used in the costing process. 4. Record the journal entries that reflect the flow of costs in a job-order costing system. 5. Apply overhead cost to Work in Process using a predetermined overhead rate. 6. Prepare schedules of cost of goods manufactured
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cost of goods manufactured plus beginning finished goods less ending finished goods. 3. Inventory accounts for a manufacturer consists of a. direct materials, work in process, and finished goods. b. direct labor, work in process, and finished goods. c. manufacturing overhead, direct materials, and direct labor. d. work in process, direct labor, and manufacturing overhead. 4. In a process cost system, equivalent units of production are the a. work done on physical units expressed
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Management, Control & Accountability for Financial Resources INTRODUCTION The purpose of this paper is to identify the information needs of the internal and external stakeholders in a manufacturing concern and how they can be met. All stakeholders of a firm require different types of information to help them in the decision making process. The top management which comprises of the Chief executive officer and the board of director require information pertaining to the finances of the firm, the
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