AACE International Recommended Practice No. 34R-05 BASIS OF ESTIMATE TCM Framework: 7.3 – Cost Estimating and Budgeting Acknowledgments: Todd Pickett‚ CCC (Author) Peter R. Bredehoeft‚ Jr. Ted A. Downen Larry R. Dysert‚ CCC Bruce G. Elliott‚ CCC John K. Hollmann‚ PE CCE Copyright 2010 AACE International‚ Inc. Stephen M. Jacobson CCC Carlton W. Karlik‚ PE Christopher L. Kinney Donald F. McDonald‚ Jr. PE CCE PSP Bernard A. Pietlock CCC Richard A. Selg‚ CCE AACE International Recommended Practices
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The objectives of the firm can be viewed as the motives of the entrepreneur/s who own and run the firm. There a number of goals that firm can pursue in its day to day operations - it may try to maximise profits‚ sales or growth‚ meeting shareholder expectations‚ or increasing market share. Maximising profits - making the biggest possible profit‚ or the smallest possible loss - is recognised as the main objective of most firms. Profit is the difference between the firm’s total revenue (output sold
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T≈ + T T ) This gives us the so called “extrapolated” value 32 16 16 8 1 " " ( -). 4 T T TT = + Note‚ this is exactly how “T32” was calculated on the previous page. And then 2 2 64 32 16 8 16 16 8 16 8 1 11 " "" " ( -) ( -) ( - 4 44 T T TT T TT TT ⎛ ⎞ ⎛ ⎞ = + =+ + ⎜ ⎟ ⎜ ⎟ ⎝ ⎠ ⎝ ⎠ ) This is exactly how “T64” was calculated on the previous page. We can obviously continue to do this as many times as we like. In fact if we do this several times (infinitely many times in fact)
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Determinants of Earnings Improving someone’s success in the labour market is a main objective of both family and policy makers‚ especially those with low earning in recent years. In the classic view of labour earning‚ we assume that the skills of individuals are the dominant factor to determine the earnings’ level. However‚ the recent year study manifests multiple factors have been weighed more than before. To illustrate this new situation‚ it believes that individuals’ successes in labour
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How Can The German Car Manufacturer Firm “A” Enter Brazil Market Firm A is a big multinational enterprise in Germany which focuseson vehiclemanufacturer. Now‚ firm A is planning to enlarge its business in the world. Brazil‚ the largest emerging economy in Latin America is their first choice. However‚ similar to other developing countries‚ the business and trade condition in Brazil is different from developed countries. So‚ firm A may face great political and cultural risk when doing business in
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Cited: Barbara‚ Stephen. "How Stephenie Meyer cramps my style: are you familiar with the Twilight origin story?" Publishers Weekly 7 Dec. 2009: 54. Gale Biography In Context. Web. 6 Nov. 2011. Hartshorn‚ Laurie. "The Short Second Life of Bree Tanner: An Eclipse Novella." Booklist
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who & how N.I estimated in India from time to time? (Muni) Write the history of national income estimates in India? What are the estimates of National Income before and after independence? Ans: Estimations of National Income before independence: Several estimates of National Income were prepared during the British period. The 1st estimate of national income was prepared by Dadabhai Nauroji for the year 1867 - 68. Accordingly the N.I and Per Capita
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collected from a sample. The assignment of value(s) to a population parameter based on a value of the corresponding sample statistic is called estimation. In inferential statistics‚ _ is called the true population mean and p is called the true population proportion. There are many other population parameters‚ such as the median‚ mode‚ variance‚ and standard deviation. The following are a few examples of estimation: an auto company may want to estimate the mean fuel consumption for a particular model
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1. What is earnings management? The companies use earnings management as a strategy by which they can easily control and manipulate their earnings to reach their pre-determined earning target. 2. Why do companies employ earnings management techniques? Accountants cannot predict every business structure‚ every new and innovative transaction. Therefore‚ they build up principles that allow for flexibility so that they can adapt to changing circumstances. However‚ people make use of that flexibility
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accounting policies are two important requirements in financial reporting‚ although these are the most subjective and complex areas‚ they are of significance in making business decisions to users of financial statements. This paper compares our company ’s current accounting practice with the requirements in respective accounting standards in relation to disclosure of sources of estimation uncertainty and judgments in applying accounting policies with the aim the identify any gaps between these two which
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