Conceptual Framework Cost Accounting Cost accounting‚ as a tool of management‚ provides management with detailed records of the costs relating to products‚ operations or functions. Cost accounting refers to the process of determining and accumulating the cost of some particular product or activity. It also covers classification‚ analysis and interpretation of costs. The cost so determined and accumulated may be the estimated future costs for planning purposes‚ or actual (historical) costs for evaluating
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Durham E-Theses Three essays in behavioural nance: An examination into non- Bayesian Investment behaviour ANTONIOU‚ CONSTANTINOS How to cite: Three essays in behavioural nance: An examination into nonBayesian Investment behaviour‚ Durham theses‚ Durham University. Available at Durham E-Theses ANTONIOU‚ CONSTANTINOS (2010) Online: http://etheses.dur.ac.uk/428/ Use policy The full-text may be used and/or reproduced‚ and given to third parties in any format or medium‚ without prior
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range of accounting application is expanding rapidly‚ along with the increasing demand of economic market. As is well known‚ accounting is a key aspect of business. And in the accounting profession‚ there has been already existed interpenetration and overlapping among the different kinds of accounting. Cost accounting and financial accounting are two main components of accountancy. The former one is a part of accounting. In cost accounting‚ it dramatically researches the variable cost‚ fixed cost‚ overheads
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Direct Cost 2. Indirect Cost 3. Cost Object 4. Cost Driver 5. Cost Allocation 6. Cost Sheet 7. Semi variable cost 2. Write a detailed note on Target Costing. (DEC‚ 2010) 3. Write a note on methods of absorption of overheads. (DEC‚ 2010) 4. Write a note on classification of overheads. (DEC‚ 2010) 5. Write short notes on the following: i. Product Costs ii. Period costs iii. Out of pocket cost iv. Sunk Costs v. Opportunity cost vi. Replacement cost vii. Joint cost (DEC‚ 2011)
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Econometrics Continuous and Discrete Data What is Econometrics? Literal meaning is “measurement in economics”. Definition of financial econometrics: The application of statistical and mathematical techniques to problems in finance and accounting. Continuous data can take on any value and are not confined to take specific numbers. Discrete data can only take on certain values‚ which are usually integers Types of Data Dummy variable A dummy variable (also known as indicator
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Types of costs Classification of costs: • Materials – costs of raw materials‚ components and other goods used. • Labor – cost of employees wages and salaries. • Expenses – costs which cannot be included in materials and labor. Variable costs – these costs varies directly with changes in the level of quantity‚ over a defined period of time. Fixed costs – are not affected by the changes in the level of activity‚ over a defined period of time. Semi variable costs – for example
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additional costs incurred. Actual variable costs increased from $218 to $247.50‚ causing an unfavourable flexible-budget variable cost variance of $59 457. The next section‚ 3.2 Variable and Fixed Variance Analysis‚ will look into the specific causes of this increased in cost and resources consumed. Understanding the reasons why actual results differ from budgeted amounts can help Barnes better manage its costs and pricing decisions in the future. If Barnes have not been able to pass these costs on to
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Topic:Responsibility Accounting and Cost Control. Subject: Management control systems Index: |Sr.No |Topic |Page No | |1 |Meaning of Responsibility Accounting |3 | |2 |Steps involved in Responsibility Accounting
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INTRODUCTION Realised-profit‚ matching-based‚ historical cost accruals accounting (HCA) has for over fifty years been repeatedly challenged as being an inadequate basis for the measurement of "income" which reports increments in the value of businesses. Such challenges continue unabated and are made by both accounting standards regulators and by academic commentators. Despite its obvious deficiencies for measuring valuation based income‚ and subject to concept of prudence‚ internationally HCA remains
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Dispute Resolution Methods Alberta’s Labour Relations Code and Police Officers Collective Bargaining Act provide methods for resolving disputes including: Mediation Voluntary Arbitration Board Compulsory Arbitration Board Interest Arbitration Board Disputes Inquiry Board Public Emergency Tribunal Construction Industry Disputes Resolution Tribunal Introduction Collective bargaining is the process through which employers and employees establish the terms and conditions of employment in
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