Solution sto Chapter 2 Problems Accounting Judgements Questions 1. Accounting principles include: (a) Underlying assumptions – basic underlying assumptions that make accounting possible. (b) Qualitative criteria – standards to judge policy choices in conjunction with reporting objectives. (c) Measurement methods – ways to measure results and financial position. 2. The importance of establishing a document such as the IASB’s Framework is that this material helps standard setters when
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Term- I Course Title : Managerial Economics Course Credits : 3 Course Faculty : Prof. Animesh Singh Learning Objectives At the end of this course‚ the student should be able to: • develop a basic understanding of economics as an important tool for taking effective managerial decisions; • develop the concept of managerial economics and its applications; and • to apprise how managers need to understand
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Questions for Review – Week #2 1) What kinds of establishments may employ full-time students at 85 percent of the minimum wage? Retail and Service establishments and farms may employ full-time students at 85% of the minimum wage. 2) What are the types of exempt white –collar employees? Executives‚ administrators‚ professional employees‚ highly compensated employees‚ computer professionals‚ and outside salespersons can be exempt if they satisfy certain tests. 3) Under what conditions
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Chapter 5 Question 6 Page 218 Q = Dresses per week L= Number of labor hours per week Q = L –L2/800 MCL=$20 P= $40= therefore MR=$40 Part A: A firm maximizes profit when it equates MRPL = (MR) *(MPL) = MCL MPL= dQ/dL =1 – L/400 Therefore (40)*(1-L/400) = 20. The solution is L = 200. In turn‚ Q = 200 – (2002/800). The solution is Q = 150. The firms profit is= PQ – (MC)L= ($40) (150) – ($20) (200) = $2‚000 Part B Price increase to $50: Q = Dresses per week L= Number of labor hours
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CHAPTER 1 Introduction to Financial Statements Study Objectives 1. 2. 3. 4. 5. 6. Describe the primary forms of business organization. Identify the users and uses of accounting information. Explain the three principal types of business activity. Describe the content and purpose of each of the financial statements. Explain the meaning of assets‚ liabilities‚ and stockholders’ equity‚ and state the basic accounting equation. Describe the components that supplement the financial statements in an
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Andrew Cortino April 9th Chapter 2 ?’s 1. Your company is discussing plans to migrate desktop and laptop users to Linux. One concern raised by the users is whether Linux supports the use of CDs and DVDs for both work files and for listening to music. Which of the following is an appropriate answer? c. Linux supports both the UDF and iso9660 file systems for CD and DVD use. 2. You receive a message that you’ve successfully backed up hda2 on your Linux system. What is hda2? b. the
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Chapter 1 Financial Statements and Business Decisions EXERCISES E1–2 Req. 1 READ MORE STORE Balance Sheet As at December 31‚ 2008 |ASSETS | |LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | |Liabilities | | |Cash |$ 48‚900
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ASA University Review‚ Vol. 4 No. 1‚ January–June‚ 2010 Management Accounting Practices: A Comparative Analysis of Manufacturing and Service Industries Farjana Yeshmin* Rehana Fowzia* Abstract The study aims to examine the use of the management accounting techniques in manufacturing and service industries of Bangladesh for discharging managerial functions. To achieve this objective‚ 151 organizations from manufacturing and service industries have been surveyed with a structured questionnaire by
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Week Two Read Me First MANAGERIAL BUDGETING Introduction This week covers the various cost descriptors such as fixed‚ variable‚ direct‚ indirect and the budget cycle. We will discuss applying cost-benefit analysis to an organizational situation and how it is used at different levels of public budgeting‚ governmental‚ and non-profit accounting. We will discuss line item budgeting‚ program budgeting‚ and performance budgeting This Week in Relation to the Course In the first week we
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IASB rules. The cost of borrowing funds to acquire or construct property‚ plant‚ and equipment accounted for under IASB rules should be added to the other costs of acquiring fixed assets to determine the amount for the balance sheet. /1 1/1 Question 2 A "bottom up" test and "top down" test must be applied under IASB standards to determine what? a. Impairment of tangible fixed assets b. Impairment of intangible fixed assets Selected: c. Impairment of goodwillThis answer is correct. d. Allocation of
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