information gathered can impact a learners futures prospects. An assessor being able to impact a learners future prospects demonstrates the power that an assessor holds and illustrates the importance of standardisation in assessment. 2. Define the key concepts and principles of assessment. Assessment is a systematic process involving methodical planning to measure whether a learner is able to complete set tasks which will all contribute to a learner being able to meet their overall goals and objective
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1- Management Accounting in Context Budget Quantitative expression of a proposed plan of action by management for a specified period and an aid to coordinating what needs to be done to implement that plan Chartered Institute of Management Accountants International professional body of management accountants with members in 165 countries‚ including Australia Chief Financial Officer Executive responsible for overseeing the financial operations of an organisation. Also called financial director Control
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Ethics key words and concepts Ethics 1: truth telling Duty of candour: This is the duty of being honest and straightforward in attitude and speech. The moral tension between beneficence and respect for autonomy: The principle of nonmaleficence is translated from ‘first‚ do no harm’ (Hippocratic oath) and what intends to say that if you can not do any good without causing harm then do not do it at all. The principle of beneficence is understood as the first principle of morality and follows
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Interpersonal Communication Key Concepts: Chapter 1: Content Meaning (P.23): The content of‚ or denotative information in‚ communication. Content-level meanings are literal. Dual perspective (P.31): The ability to understand both your own and another’s perspective‚ beliefs‚ thoughts‚ and feelings. Ethics (P.26): The branch of philosophy that deals with moral principles and codes of conduct. Because interpersonal communication affects people‚ sometimes profoundly‚ it always has ethical implications
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Reorganization and Troubled Debt Restructuring 135 CHAPTER 8 MULTIPLE CHOICE ANSWERS AND SOLUTIONS 8-1: a Trade accounts payable (P52‚000 + P62‚700) P114‚700 12% preferred stock (5‚000 x P1) P 5‚000 Paid in capital in excess of par (5‚000 x P9) 45‚000 Cash (P62‚700 x P0.80) _50‚160 _100‚160 Gain from discharge of indebtedness P 14‚540 8-2: c 8-3: c 8-4: b Carrying value of the
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that gives the holder the right to purchase shares of common stock in accordance with the terms of the instrument‚ usually upon payment of a specified amount. (d) The date at which an employer and an employee reach a mutual understanding of the key terms and conditions of a share-based payment award. The employer becomes contingently obligated on the grant date to issue equity instruments or transfer assets to an employee who renders the requisite service. Awards made under an arrangement that
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Cost Concepts Semester II Basic Terms • Cost is the amount of expenditure‚ actual (incurred) or notional (attributable)‚ relating to a specific thing or activity. The specific thing or activity may be a product‚ job‚ service‚ process or any other activity • Expenses are expired costs‚ incurred and totally used up in generation of revenue • Loss is lost cost. The term ‘loss’ is used to describe mainly two accounting events. In traditional financial accounting it is used to denote a situation
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COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with recording
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ChaNoel A. Torres Acevedo Intermediate Accounting I Homework: Exercise 3-1: Apr. | 2 | Cash | 30‚000 | | | | Equipment | 14‚000 | | | | Christine Ewing‚ Capital | | 44‚000 | | | | | | | 2 | No entry—not a transaction. | | | | | | | | | 3 | Supplies | 700 | | | | Accounts Payable | | 700 | | | | | | | 7 | Rent Expense | 600 | | | | Cash | | 600 | | | | | | | 11 | Accounts Receivable
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Chapter 16 Managerial accounting concepts and principles 1) Direct costs are identified with and can be traced to a cost object. Indirect costs cannot be identified with or traced to a cost object. 2) Costs by function: A) Product costs consist of manufacturing costs: direct materials‚ direct labor and factory overhead. B) Period costs consist of selling and administrative expenses. 3) A) Prime costs which consist of direct materials and direct labor costs. B) Conversion costs which consist
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