Period costs iii. Out of pocket cost iv. Sunk Costs v. Opportunity cost vi. Replacement cost vii. Joint cost (DEC‚ 2011) 6. Explain the advantages of and objections against Cost Accounting (DEC‚ 2011) 7. Briefly explain suitability‚ merits and demerits of the following methods of absorption of overheads: i.) Percentage of direct material cost ii) Percentage of direct labor cost (DEC‚ 2011) 8. Explain the difference between the cost accountancy‚ costing and cost accounting. (MAY‚
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A PROJECT ON BUDGETARY CONTROL IN THE SUBJECT ADVANCED COST ACCOUNTING SUBMITTED BY NAME: SHREY JAIN ROLL NO.: 24 DIVISION: A UNDER THE GUIDANCE OF PROF. KEDAR BHIDE TO UNIVERSITY OF MUMBAI FOR MASTER OF COMMERCE PROGRAMME (SEMESTER - I) YEAR: 2012-13 SVKM’S NARSEE MONJEE COLLEGE OF COMMERCE &ECONOMICS VILE PARLE (W)‚ MUMBAI – 400056. EVALUATION CERTIFICATE This is to certify that the undersigned have assessed and evaluated the project on “BUDGETARY CONTROL” submitted by SHREY
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Market failure and how government can attempt to correct it Market failure is a situation in which the free market fails to allocate resources effectively‚ causing a situation where the quantity demanded by the consumer is unequal to the quantity supplied by the supplier. Ledyard (1987) argues in the textbook Environmental Economics in Theory and Practice that “the best way to understand market failure is to first understand market success” (Hanley‚ et al.‚ 2007‚ p. 44) My definition of market
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advantage over price sensitivity. 2. Compare and contrast the merits and demerits of the current cost system and ABC system. Features & Merits of the Current Cost allocation method: • Simple to comprehend and use • The direct costs‚ machine hours and direct labour hours were used for overhead calculations. • The above factors were calculated on a long term basis. • Suitable for manual process of production Demerits of the Current Cost allocation method: • Sometimes production volume
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Alternative Solution & their Evaluation: 1) If Any Customer asks to replace shoes & firm replace the same without any hesitation. Merits: Customer will be happy & will become loyal customer. He will suggest to others Demerits: He may fool company by false claiming. 2) If Any Customer asks to replace shoes & firm deny the same as per the company policy. Merits: Fraud will be
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goal‚ direct and/or indirect investment. By investigating the different investment possibilities they want to understand the merits and demerits‚ including risk and return of the possible investments. Bearing these outcomes in mind‚ they can form a new strategy for the company. We will discuss 4 different subjects as stated in the assignment: * The merits and demerits of direct real estate investing are highlighted; * The potential benefits for LL of allocating its assets to indirect real
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Essay Question 1 "Having been found guilty‚ in April 2000‚ of abusing its monopoly‚ Microsoft‚ the software giant was ordered to be broken in two." - Economist 7 Nov 2002 a) Why do monopolies exist? [ 10 ] b) What are the relative merits or demerits of breaking up a monopoly like Microsoft? [ 15 ] Suggested essay outline: Part (a) INTRODUCTION 1. (i) Define monopoly Spectrum of Market Structures: Definition: Most extreme form of imperfect market with little or no competition
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Chapter 1 – Introduction to R&S Importance of R&S: * Productivity: Reduces employee turnover and increases productivity * Competitiveness: Hiring the right people gives the company an edge in the market by higher productivity and in-turn increased profits. * Responsible for up to 15% of a firm’s relative profit * Help to establish employee trust * Legal and public exposure is another key element in this aspect and it is important to conduct the best practices in this regard which
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------------------------------------------------- According to American marketing association (AMA) “Advertising is any paid form of non – personnel presentation and promotion of goods‚ services or ideas by an identified sponsor”. To advertise means to notify‚ inform‚ or describe (goods) publicity with a view to increase sales‚ to make a thing or idea publicly known. Features of Advertising: 1. Paid form: Advertising is paid for and hence it is a commercial transaction. This
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a complete system to ensure that the software requirements have been met.After testing‚software system is delivered to customer. Maintenance: Maintenance involves correcting errors which were not discovered in early stage of lifecycle. * Merits of waterfall model: 1. Works well for smaller projects where requirements are vry well understood. 2. Phases are processed and completed one at a time. 3. Easy to manage due to
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