Cost Volume Profit Analysis (CVP Analysis) 3.1 Introduction * CVP analysis is a systematic approach of examining the relationship between the changes in volume‚ cost‚ revenue and profit. The main objective of this analysis is to establish what will happen to the financial results if a specified level of activity fluctuates. * This analysis is useful especially to plan the future production and sales activity that will enable the firm to maximize profit and at the same time it
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BUIDLING SKINS It is interesting to see the evolution of the building skin throughout history‚ from first being seen as just shelter and the same as a building to the envelope becoming independent and having its own identity. Also‚ it is hard to distinguish whether roof or wall came first. Although they seem like to different elements‚ Werner Lang explains they can be one in the same. In the beginning‚ mans’ main concern was to shelter himself from natural elements. Today‚ there are many new factors
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NUSSERWANJEE BUILDING INTRODUCTION: This is the new building on the site of the Nusserwanjee building which was relocated to Clifton as a new wing of Indus Valley School of Art and Architecture. The old building was marked for demolition but was saved by concerned citizens and architects as a cultural heritage. Shahid Abdulla‚ one of the founders of the Indus Valley School‚ excitedly called to say he had found a beautiful old building‚ right in the heart of Kharadar‚ which was for sale and about
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dangerous area. The first record is of a cobblestone paving in Assyria in about 4000 BC. The oldest extant road was constructed trough the mountains of Crete‚ from Knossus to Leben in about 2000 BC. It could have been man’s first effort at major road building as it was no mean structure with elaborate longitudinal drains‚ a 200 mm basecourse of sandstone in a clay-gypsum mortar‚ and a 4m longitudinal surface of basalt blocks. The first major arterial road was probably 2.5Km route built by Assyria from
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Cost Theory in Economics A central economic concept is that getting something requires giving up something else. For example‚ earning more money may require working more hours‚ which costs more leisure time. Economists use cost theory to provide a framework for understanding how individuals and firms allocate resources in such a way that keeps costs low and benefits high. 1. Function * Economists view costs as what an individual or firm must give up to get something else. Opening a
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11 Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
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Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
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Hudson Burnham was the architect responsible for creating the Flatiron Building in New York City‚ which opened in 1902. Born in Henderson‚ New York and raised in Chicago‚ Illinois‚ Burnham first apprenticed as a draftsman under William LaBaron Jenney. At the age of 26 he met future business partner John Wellborn Root‚ and together they were responsible for the design of one of America’s first skyscrapers: the Masonic Temple Building in Chicago. As an internationally prominent figure‚ Daniel Burnham
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individual accomplishment toward organizational objectives. Teamwork divides the task and multiplies the success. Overcoming barriers to performance is how groups become teams. WHAT IS TEAM BUILDING ? ‘Team Building’ is the process of enabling a group of people to reach their goal’ STAGES OF TEAM BUILDING STORMING • Define Problems. • Identify Mutual Goals & Challenges. • Assessing resources & setting direction. FORMING • Realize the gravity of the task. • Positioning and Influence. • Conflict
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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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