Chapter 2 Cost Terms‚ Concepts‚ and Classifications Exercise 2-2 (15 minutes) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10 . 11 . 12 . 13 . 14 . 15 . Depreciation on salespersons’ cars ................ Rent on equipment used in the factory .......... Lubricants used for machine maintenance ..... Salaries of personnel who work in the finished goods warehouse.............................. Soap and paper towels used by factory workers at the end of a shift ...................... Factory supervisors’ salaries
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Content 1 Introduction 1 1.Task one 2 The models and concepts affecting the pricing decisions taken by organisations‚ critically reflecting upon their usefulness 2 2‚ Task two 6 The role of standard costing and variance analysis in management accounting and a critically discussion of the value and limitations of variance analysis as a means of identifying key areas which have contributed to the overall profit figure. 6 3‚ The advantages and disadvantages of introducing an Activity Based Costing
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$500‚000 and is known by both Brickhouse and Boudreau to be a fairly "soft" amount. Identify possible causes of action. -Brickhouse is acting unethically. His action serves only his self-interest‚ self review and has no clear basis in proper accounting procedures‚ so ignoring the familiarity with brickhouse ‚the controller‚ Louise Boudreau‚ should not manipulate net income in view of any compensation plan the company may have.He must comply with relevant laws and regulations and not assist others
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the company’s objectives are set and the means of attaining those objectives and monitoring performance (Kajola‚ 2008). Equally‚ Kwakwa and Nzekwu(2003) refer corporate governance to the manner in which the power of a corporation is exercised in accounting for corporation’s total portfolio of assets and resources with the objective of maintaining and increasing shareholder value and the satisfaction of other stake holders while attaining the corporate mission. Economic Commission for Africa (ECA)
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Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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A TERM PAPER WRITING ON READING FAILURE IN NIGERIA I DEDICATION I would like to dedicate this write up to the almighty God for giving me the privilege and knowledge to make this a success‚ to my parents for their sponsorship in all aspect of life and to my pastor‚ for being a great mentor in terms of hard work
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Ade Ojo was born on June 14‚ 1934 at Ilara-Mokin in Ondo State‚ South West of Nigeria. He studied Business Administration at the University of Nigeria‚ Nsukka (UNN) and graduated in June‚ 1965. He has worked with some multinational companies including C.F.A.O.‚ the then British Petroleum (BP) now African Petroleum Plc. Today he is the proud owner of ELIZADE NIGERIA LIMITED with several subsidiaries including Toyota Nigeria Limited‚ Oodua Creations Limited‚ Crown and Gold Shipping Company Limited among
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The Beginning of British Imperialism in Nigeria Adam Coleman History 210: World History October 19‚ 2011 The novel Things Fall Apart‚ by Chinua Achebe‚ depicts the Igbo culture of Nigeria in the 1890’s‚ as well as the beginning of the British colonization of these people. Achebe describes the Igbo culture in fairly great detail in the novel‚ including different portions of the society and many of the laws and beliefs of the culture. The spread of Christianity brought by British missionaries
Free Igbo people Chinua Achebe Things Fall Apart
Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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