characteristics of financial statements; ■ Elements of financial statements; ■ Underlying Assumptions; ■ Recognition of the elements of financial statements; ■ Measurement of the elements of financial statements; and ■ Concepts of capital and capital maintenance OBJECTIVES The objective of general purpose financial reporting. The objective is to provide financial information about the reporting entity that is useful to existing and potential investors‚ lenders and other creditors in making decisions
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ABSTRACT All manufacturing activities necessarily generate some form of waste. The manufacturing process does not consist of hundred percent of conversion of material and energy inputs into usable final products; some portion of the material and energy inputs inevitably ends up wastes. When the waste generated exceeds the maximum assimilative capacity of the environment it becomes pollution. This seminar focuses on LEAN productions‚ which aims at elimination of wastes there by reducing the environmental
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started in 1924 in the agricultural industry. They were known as Huff Daland Dusters and were the world’s first aerial crop dusting organization. The dusting company only had income during the summer months‚ so it was decided that during the non-productive
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three improvement process cycles‚ each consisting of 13 weeks. After the assessment phase‚ performed by two consultants from lean dynamics‚ five lean pilot areas were formed. Eight teams‚ each consisting of two to four operators‚ one engineer‚ one maintenance technician‚ and the department foreman/supervisor were formed to analyse the improvement opportunities. Each team explored improvement opportunities by using various problem-solving techniques such as the fishbone diagram‚ 5 Whys‚ cause and effect
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production control‚ small lot production‚ quick setup‚ uniform production‚ quality at the source‚ total production maintenance and supplier network. 1. Flexible Resources The Concept of flexible resources‚ in the form of multifunctional workers and general purpose machines is the key elements of Just In time. Workers should be trained to operate several machines‚ to perform maintenance tasks‚ and to perform quality inspections. This can help company to solve any problem as well as possible In
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Indicator) Muda (Waste) Overall Equipment Effectiveness (OEE) PDCA (Plan‚ Do‚ Check‚ Act) Poka-Yoke (Error Proofing) Root Cause Analysis Single Minute Exchange of Die (SMED) Six Big Losses SMART Goals Standardized Work Takt Time Total Productive Maintenance (TPM) Toyota Production System (TPS) Value Stream Mapping Visual Factory 5S Organize the work area: Sort (eliminate that which is not needed) Set In Order (organize remaining items) Shine (clean and inspect work area) Standardize
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to all the other business functions. All organizations market (sell)‚ finance (account)‚ and produce (operate)‚ and it is important to know how the Operations Management activity functions. Therefore‚ we study how people organize themselves for productive enterprise. • We study Operations Management because we want to know how goods and services are produced. The production function is the segment of our society that creates the products we use. • We study Operations Management to understand what
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human assets. “People—not buildings‚ equipment‚ or brand names—make a company” (DeCenzo & Robbins‚ 2007. p. 32). Expanding on the primary function of HRM involves four separate main functions of staffing‚ training and development‚ motivation‚ and maintenance. The staffing function is more involved than just recruiting. Human resources must first engage in planning and analysis of the position and the skills‚ knowledge and abilities required for the position. HR cannot successfully recruit qualified
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Erik Benjamin Student ID 5255640 MGT 215 Operations‚ Logistics and Supply Chain Management Assignment 4 (1) Why are mathematical models not more widely used in aggregate planning? In the text‚ aggregate planning also known as aggregate scheduling is defined as an approach to determine the quantity and timing of production for the intermediate future‚ often from 3 to 18 months ahead (Heizer and Render‚ 2005). Operations managers use aggregate planning as a forecasting method
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capital maintenance Problems Because of the difficulties in measuring real income - Accountants have adopted a transactions approach to income recognition Capital Maintenance Concepts Financial capital maintenance - money amount -transactions based VS Physical capital maintenance - productive capacity Difference is in the treatment of holding gains Current Value Accounting The concept of physical capital maintenance requires
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