What is Cost & Management Accounting Reporting Systems? Cost Accounting Reporting System deals with the process of tracking‚ measuring‚ recording and classifying the appropriate allocation of expenditure (financial and non-financial) for the determination of the cost of product or service in an organization and for the presentation of suitably arranged data for the purpose of control and guidance of management (Horngren et al‚ 2010). Costs are measured in terms of Direct Costs‚ Indirect Costs and
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Chapter 4 : Account Titles and Preparation of Financial Statements | Article 14 : The balance sheet items shallbe categorized as follows: 1. Assets. (1) Current assets. (2) Funds and long-term investments. (3) Property‚ plant and equipment. (4) Depletable assets. (5) Intangible assets.
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Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does
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The Exclusionary Rule Abstract This paper will present the Exclusionary Rule and the original intentions for its enactment. It will discuss the importance of the rule and how it is a protection against an unlawful search and seizure and a violation of the rights provided by the Fourth Amendment. Also‚ this document will display the history of the Exclusionary Rule‚ with its first appearance in the case‚ Boyd v. United States in 1886. Weeks v. United States will show a better-established‚
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critically reflecting upon their usefulness 2 2‚ Task two 6 The role of standard costing and variance analysis in management accounting and a critically discussion of the value and limitations of variance analysis as a means of identifying key areas which have contributed to the overall profit figure. 6 3‚ The advantages and disadvantages of introducing an Activity Based Costing system to replace the current Absorption Costing system. 8 Conclusion 12 Reference lists 13 Bibliography 14 Introduction
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(a) Briefly explain what prompted some countries over the world to strongly advocate harmonization of accounting. The important reasons which necessitate harmonization of accounting practices are well contained in the observation made by Saudagaran. “While the initial efforts at harmonization were mainly championed by political bodies and professional accounting organizations‚ current pressures to harmonize are driven by investor groups who use financial statements‚ multinational companies which
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What are the core moral teachings of Hinduism and Budhism ? On what are they based ? Both Hinduism and Buddhism originated from the Asian culture. The religions share a very long history together and are somewhat comparable to Judaism and Christianity. The basic moral precepts of Hinduism are avoiding intentional injury to any being and truthfulness. Violating either one results in suffering until the effects of the act are exhausted. Some believe that spiritual practices such as repeating the
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OFFICE OF THE DIRECTOR GENERAL OFFICE OF THE DIRECTOR GENERAL (ODG) Responsible for the general administration and management of PDEA. Direct and control the utilization of the Agency’s resources for the accomplishment of its mission in accordance with RA 9165. A. Public Information Office 1. Serve as the official spokesperson in behalf of the organization - Prepare and issue official statements of the Agency on sensitive matters as approved by DG‚ PDEA - Act as focal person for information
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Anderson: the Rule of Law Amid the Clash of Arms‚2009) From my view‚ Lord Bingham expressed the importance of rule of law through the comment he gave in the case Liversidge v Anderson(1942).As he claimed in the rule of law that the right of the individual is getting protected against the state‚ and there is a duty for the state to conduct their power based on the law without abuses it. Courts are playing an important role to make sure the justice and individual right is achieved. Rule of law is a
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