Paper on:- “The use of the Historical Cost convention and the accrual concept for stewardship and for decision making” Topic 1: The Historical Cost Convention Introduction The historical cost convention is unarguably one of the most debated topics in the theoretical base of accounting. Some are of the opinion that it should be done away with‚ while others believe that it plays a vital role in presenting an accurate picture of the business concern. The Historical cost convention has different uses and
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Ethical Decision Making Ethics is a set of moral principles that set forth people’s actions when in conflict with having to examine and decide what is right or wrong‚ what is legal or illegal‚ and what is proper or improper to do. Every business action and decision we make during the course of our lives could indicate when a situation has a wrong or right implication. Most people tend to make business ethical decisions based on personal interest‚ economic status‚ professional values‚ and social
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ADM 3346A COST ACCOUNTING Solution Fall 2010 Midterm Examination STUDENT NAME: _________________________________________________ STUDENT NUMBER: ________________________________________________ 90 minutes INSTRUCTIONS 1. 2. 3. 4. Books and notes are not permitted‚ except language dictionaries. Non programmable calculators are permitted. Put all answers in the question booklet Questions concerning possible errors in the exam only will be answered. Questions Max Points
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International Islamic University Malaysia Graduate School of Management ECON 6130 Quantitative Decision Making Chapter 10 One-Sample Tests of Hypothesis Dr. Intan Zanariah Zakaria GOALS • Define a hypothesis and hypothesis testing. • Describe the five-step hypothesis-testing procedure. • Distinguish between a one-tailed and a two-tailed test of hypothesis. • Conduct a test of hypothesis about a population mean. • Conduct a test of hypothesis about a population proportion. • Define
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Question 11: Strategic control‚ financial control‚ and strategic planning are three ways of dividing responsibilities between corporate centre and its business units. Discuss these three ways of control and their links with three corporate rationales (portfolio manager‚ synergy manager‚ and parental developer). Give examples to support your argument. Read 450-452 of text Goold and Campbell identified 3 parenting styles reflecting the degree to which staffs at corporate headquarters become involved
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support Gwendolen’s free will to study as she pleases and to study whichever subject(s) she desires. Gwendolen actually hates learning the German language‚ and her mother’s strong hand is the only reason why she does it. If she could make her own decisions‚ which she is capable of doing‚ she would never again open another German novel. We as readers can deduce that Lady Bracknell finds value only in intellectual women‚ offering no credit and paying no mind to the variety of paths from which one can
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Strategic thinking is an essential leadership skill. Our learning team has learned to consider our current decision-making strategies‚ and examine our options for choosing the best strategy for any situation be it one-sided‚ compromise‚ collaboration and deciding-by-majority rule. As a learning team we will identify any problem someone on the team may have such as being shy‚ not very talkative and hesitate about having to stand in front of the class while presenting our presentation. Being part
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CHAPTER 1 INTRODUCTION TO COST ACCOUNTING QUESTIONS 1. Management accounting stresses the informational needs of internal users over those of external users (the focus of financial accounting). Because of this perspective‚ management accounting provides information in a format that is flexible and relevant to a particular manager‟s usage. Financial accounting‚ on the other hand‚ must provide some uniformity in the manner in which information is presented for it to be comparable among companies and
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Whole = Percent Expense Revenue = Expense % Profit Revenue = Profit % Desired Profit Revenue = Desired Profit % Revenue – (Food and Beverage Cost + Labor Cost + Other Expense) = Profit Food and Beverage Cost Revenue = Food and Beverage Cost % Labor Cost Revenue = Labor Cost % Other Expense Revenue = Other Expense % Total Expense Revenue = Total Expense % Profit Revenue = Profit % Actual
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LABOUR COST ACCOUNTING. It is concerned with identifying the amount of labour costs to be changed to jobs and overhead accounts. Where a manufacturing organization operates a job costing system‚ information on the labour costs should be properly captured from the following documents:- i) Job Cards: This is open for each job‚ when the job is started‚ the time of starting is entered on the job card and when it is completed‚ the completion time is also entered. The difference between the two
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