A balance sheet is a statement businesses produce that outlines their assets and liabilities. It is a snapshot of their fixed assets‚ current assets‚ current liabilities and long term liabilities for a specific moment in time such as the end of a financial year. Using these figures‚ a business is able to calculate their net working capital; how much the business is worth‚ whether it can afford to expand and if it is a good venture for investors. There are different groups of people who are interested
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Analysis of Costs Costs affect input choices‚ investment decisions‚ and even the decision of whether to stay in business. A. Economics analysis of costs 1. Total cost: fixed and variable (1) Total cost represents the lowest total dollar expense needed to produce each level of output q. TC rises as q rises. (2) Fixed cost represents the total dollar expense that is paid out even when no output is produced. FC is unaffected by any variation in the quantity of output. (3) Variable cost represents
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FRS 15 ‘Tangible fixed assets‘ FRS 15 was issued in February 1999 and sets out the principles of accounting for tangible fixed assets‚ with the exception of investment properties. The objective of the FRS is to ensure that tangible fixed assets are accounted for on a consistent basis. Fixed assets are held in our company for the profit of their use not from their resale. Tangible fixed assets should be capitalized when they are ready for use‚ which means when its physical completion is complete
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Q1: explicit costs and implicit costs concepts Explicit Cost Explicit cost is defined as the direct payment which is supposed to be made to others while running business. This includes the wages‚ rents or materials which are due in the contract. The explicit cost is the expense done in business which can easily be identified and accounted for in the business at any stage. The explicit cost represents the out flows of cash in clear and obvious terms. When any out flow of credit occurs in a business
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1 BINOMIAL SETTING? In each situation below‚ is it reasonable to use a binomial distribution for the random variable X? Give reasons for your answer in each case. (a) An auto manufacturer chooses one car from each hour’s production for a detailed quality inspection. One variable recorded is the count X of finish defects (dimples‚ ripples‚ etc.) in the car’s paint. No: There is no fixed n (i.e.‚ there is no definite upper limit on the number of defects). (b) The pool of potential jurors for a
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of period costs and product costs. Period costs are not a necessary part of the manufacturing process. Rather they are costs associated with the selling part of the business or its administrative overhead. These costs are expensed in the period in which they occur. Product costs are the direct materials‚ direct labor and overhead associated with making the company’s product. If a unit is not sold‚ these costs are reported as part of the company’s inventory and are reported on the Balance Sheet as
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ISSN: 2319 – 7285 G.J. C.M.P.‚ Vol. 2(3) 2013:84-91 WORK- LIFE BALANCE: A LITERATURE REVIEW Satinder Singh Chief Engineer (Drilling) Oil & Natural Gas Corporation Limited (ONGC)‚ Cementing Services‚ Ahmedabad Asset‚ Ahmedabad & Pursuing PhD (Management)‚ Gujarat University‚ Ahmedabad Abstract The literature review on Work-life Balance has been framed up in view of its gained popularity with the major aim to have prosperity of society and the realization of fulfilling lives for its
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Variables Independent variable: The temperature of HCl is going to be changed. The temperature 10℃‚30℃‚50℃‚70℃ and 90℃ of hydrochloric acid will be used to conduct the experiment. The hot plate is going to be used to reach 30℃‚50℃‚70℃ and 90℃‚ that are higher than the room temperature. Ice cubes can be used with water bath to make 10℃ hydrochloric acid. Dependent variable: The time it takes for carbon dioxide gas produces up to 20mL of gas syringe is going to be measured. It will be measured
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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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Patient Hygiene The aim of this assignment is to explain a nurse’s role in relation to assisting patient’s with meeting their hygiene needs. In order to accomplish this‚ the following areas of the subject will be highlighted; why hygiene is so important and the various aspects of hygiene such as; what influences hygiene‚ assessing a patient‚ bed bathing‚ oral hygiene and eye care. Oxford dictionary describes hygiene as “the conditions or practices conductive to maintaining health and preventing
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