Question One (25 marks) Based on module 7 – Budgeting Retail outlets purchase snowboards from Slopes Ltd.‚ throughout the year. However‚ in anticipation of late summer and early autumn purchases‚ outlets ramp up inventories from January through May. Outlets are billed when boards are ordered. Invoices are payable within 60 days. From past experience‚ Slopes’ accountant projects 20% of invoices are paid in the month invoiced‚ 50% are paid in the following month‚ and 30% of invoices are paid
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Tips for choosing a Condo" "How to choose a good condominium unit for myself if I do not wish to engage a fengshui master to help me ? Please advise." Master Lynn Yap replies: You can follow these simple rules: 1) Make sure the condominium project is not situated near a temple‚ church‚ burial site or mosque. Once‚ I helped a client‚ a Hongkonger (Goldman and Sachs) to choose an apartment in Tokyo when he moved there to work. He was very grateful since this great job was offered after
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though “ABC has emerged as a tremendously useful guide to management action that can translate directly into higher profit” (Kaplan and Copper1991) It is not fair to say that Absorption costing is no longer relevant. In fact ABC does not conform to GAAP (generally accepted accounting principles). Absorption costing is conventionally used for external reports‚ filings and other statutory compliances; where all of the manufacturing costs and only manufacturing costs are needed. For example auditors
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Lab 18 Configuring Remote Connections This lab contains the following exercises cand activities: Exercise 18.1 Configuring a VPN Connection Exercise 18.2 Lab Challenge Connecting to a VPN Server Testing VPN Protocols Exercise 18.1 Configuring a VPN Connection Overview In this exercise‚ you will create a connection that enables the workstation to connect to your server using virtual private networking. Mindset VPNs use tunneling to create secure connections across a public network
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Analyse the evolution of ACTIVITY BASED COSTING (ABC). What Factors led to its emergence. Contents Abstract………………………………………………………………………………………. 3 Introduction……………………………………………………………………………….. 4 Activity Based Costing (ABC)……………………………………………………..…. 5 * What is ABC * Development Of ABC Terms Involved in ABC & Stages of ABC………………………………………… 6 Evolution Of ABC………………………………………………………………………… 7 Phases of development of ABC……………………………………………………… 8 What led to the emergence of ABC………………………………………………
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Chapter 4 Activity-Based Costing 4-1 4-2 Traditional Costing and Activity-Based Costing Traditional Costing Systems Allocates overhead using a single predetermined rate. ► Job order costing: direct labor cost may be the relevant activity base. ► Process costing: machine hours may be the relevant activity base. Assumption was satisfactory when direct labor was a major portion of total manufacturing costs. ► Wide acceptance of a high correlation between
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Absorption and marginal costing (Relevant to AAT Examination Paper 3: Management Accounting) Li Tak Ming‚ Andy Deputy Head‚ Department of Business Administration‚ Hong Kong Institute of Vocational Education (Kwai Chung) Introduction Absorption costing and marginal costing are alternative cost accumulation systems used to ascertain product or job costs for inventory valuation and cost of sales. Absorption costing Absorption costing includes both variable and fixed production costs in the
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Lab 18 Troubleshooting Windows 7 Exercise 18.1 Troubleshooting Network ConnectivityOverview Rob calls the help desk to report that he cannot access any websites on the Internet. While he is still on the phone‚ you have him try to access a file on his departmental server. In both cases‚ his attempts fail. Troubleshoot Rob’s computer and determine why he is unable to access the network. The troubleshooting process will be completed when you are able to access the network using Rob’s computer
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whether or not the drinking age should be 18 or 21. As you turn 18 you are considered a legal adult who gets to choose what they want to do except for deciding whether to drink or not. Lowering the drinking age from 21 to 18 would decrease the number of minors people would get because 18 is an age closer to the age we are than 21 is causing children to wait to drink. I believe that whatever age you are you’re going to make bad choices whether or not if you’re 18‚ 21‚ or even 40. If lowering the drinking
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product costing system implemented in the company – with the exception of the calculation of product costs imperative for external financial reporting purposes‚ prepared by your company’s accountant. In order to reduce cost pressures upon Sunflower Ltd‚ in the highly competitive flower sector‚ this report recommends the introduction of management accounting into the company‚ in particular the use of product costing systems. The purpose of this report is to identify an appropriate product costing system
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