of the lower-of-cost-or-net realizable value (LCNRV) rule is based on both the expense recognition principle and the concept of conservatism. The expense recognition principle applies because the application of the LCNRV rule allows for the recognition of a decline in the utility (value) of inventory as a loss in the period in which the decline takes place. The departure from the cost principle for inventory valuation is permitted on the basis of
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Values and Principles assignment Part I The Public Administrative Act 2004 demonstrates what people in the public sector can and can’t do. The purpose of it is to provide a framework for good governance in the Victorian public sector and in public administration generally in Victoria. The values of the public sector code of conduct include responsive service‚ integrity‚ impartiality‚ confidentiality‚ accountability‚ providing high quality services‚ respect‚ leadership and using powers responsibly
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Principles of Economics – ECO11 Chapter 1 – The General Principles of Economics Review Exercises Fill-In Questions 1. The basis of the economising problem is that society’s wants are unlimited and its economic resources are scarce or limited. This gives rise to the idea of opportunity cost which is defined as the amount of other products that must be forgone to obtain a unit of a product. 2. We study economics so that we can make well informed conclusions about public policies. Knowledge of economics
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* Bernoulli’s Principle * Vacuum- A space entirely devoid of matter. * Vacuums don’t exist in the Earth’s atmosphere as air molecules are constantly bouncing off each-other. If a vacuum ever existed in the atmosphere it would be filled very quickly because there would be no resistance against the excited air molecules. * This phenomenon is the driving principle behind airplane wings. As wind blows over the wing (see picture below) there is a pressure differential between the
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LCCs (Low Cost Carriers) first emerged in 1950‚ by the Pacific South Airlines started offering nothing but low prices on air travel. Followed by the great success of Southwest Airlines from 1967 onwards‚ as well as facilitated by the liberalisation in air transport market‚ it has been in centre stage of the global civil aviation industry ever since. In spite of facing many challenges such as high oil prices‚ softening demand‚ surplus capacity‚ new participants as well as subsidiaries from FCCs (Full
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by advancing low-intensity majority rules system. “Low-intensity conflict is a limited politico-military struggle to achieve political‚ social‚ economic‚ or psychological objectives. It is often protracted and ranges from diplomatic‚ economic‚ and psychosocial pressures through terrorism and insurgency. Low-intensity conflict is generally confined to a geographic area and is often characterized by constraints on the weaponry‚ tactics‚ and level of violence (Holden 305).” This low-force majority
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Marketing principles --- summative assignment Brand analysis: a case study of Hai Di Lao (hot pot restaurant) Introduction Most of the organizations manage themselves through strategy context to meet the consumers’ needs and wants. The strategy context can be considered in terms of four main elements‚ namely: the organization (and its resources‚ skills‚ and capabilities)‚ the target customers‚ a firm’s competitors‚ and the wider environment. (Baines‚ Fill and Page‚ 2010) Furthermore‚ organization
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OFFICE POLITICS AND WHEN TO APPLY THEM Office politics is the use of one’s behavior or assigned power within an employing organization for the purpose of obtaining advantages beyond one’s legitimate authority. These advantages may include access to tangible assets‚ or intangible benefits such as status or pseudo-authority that influence the behavior of others. Both individuals and groups may engage in office politics has also been described as “simply how power gets worked out on a practical day-to-day
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FELTMAN Key success factors for the low-cost airline industry Figure 1 illustrates the process followed to determine the key success factors (KSF) in the low-cost airline industry. It is adapted from the process developed by Grant (2005: 93). The texts highlighted in red are the responses to the questions posed in the model and serves as the inputs to the discussion on the KSFs for the low-cost airline industry. Figure 1. Identifying key success factors in the low-cost airline industry. Cost
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only brought to the attention of most westerners after the terrorist attacks on September 11‚ 2001. However‚ they have a much deeper history rooted as far back as the Soviet Union’s invasion and occupation of the region. In order to comprehend the rise‚ fall and re-emergence of the Taliban‚ three men must be mentioned: Mohammad Omar‚ Ahmad Shah Massoud‚ and the most famous terrorist alive‚ Osama bin Laden. During the last days of the Afghanistan Soviet Union conflict‚ it was apparent that the less
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