Tag: Accounting

Differences and similarities between financial and management accounting

Introduction In this essay I will be talking about the differences and similarities between financial and management accounting and how they are used to communicate a business’s financial information to shareholders and managers. In business there are various areas marketing, economics, accounting and finance among these accounting is one of the most difficult ones as …

How did Successive Stages of capitalism change the UK’s accounting and financial reporting processes?

Introduction: According to Bryer, (1998a, 1998b) accounting is a practice whose social foundations are objective and systematic. Its history embraces the social upheavals in the commercial revolution of the sixteenth century and the British Industry Revolution (BIR) that followed. (Bryer, 2000) Financial reporting which is the externally communicated form of accounting has been moulded by …

In contemporary society, it is generally acknowledged that there is a compact relationship between the process of accounting and successive stages of capitalism.

1. Introduction In contemporary society, it is generally acknowledged that there is a compact relationship between the process of accounting and successive stages of capitalism. Then, according to Sombart (1916), the notion of double entry bookkeeping has influence on the emergence of capitalism. Consequently, this viewpoint can arouse a great controversy. Some researchers agree Sombart’s …

Executive MBA program

I would like to share the considerations which I have made in my choice to enroll in an Executive MBA program. I believe that the program would help me grow in both personal and professional realms, through an acquisition of both technical and soft skills. Through the rigor and discipline required, I will be equipped …

Letter advice

I have already uploaded our family pictures on our new Website. Practically took the time segregating and scanning the images by page and by year. I was also thinking about your move to run as Governor while browsing the site. There are good things and bad things associated with its duties and responsibilities but I …

Managerial Accounting Creating Value in a Dynamic Business Environment

Copy and Paste the link below to download IMMEDIATELY!!! Managerial Accounting Creating Value in a Dynamic Business Environment Hilton 8th Edition Solutions Manual  Name: Managerial Accounting Creating Value in a Dynamic Business Environment Author: Hilton Edition: 8th ISBN-10: 0073526924 Type: Solutions Manual – The file contains solutions and questions to all chapters and all questions.Copy …

Intermediate Accounting 14th Chapter 5

Questions 1. The balance sheet provides information about the nature and amounts of investments in enterprise resources, obligations to enterprise creditors, and the owners’ equity in net enterprise resources. That information not only complements information about the components of income, but also contributes to financial reporting by providing a basis for (1) computing rates of …

Accounting Essay

Contents 1. Introduction2 2. Main Body2 2. 1 Ratio Analysis2 2. 1. 1 Profitability3 2. 1. 2 Efficiency4 2. 1. 3 Liquidity6 2. 1. 4 Risk7 2. 2 Evaluation of Mulberry’s shares as a potential investment7 2. 2. 1 Revenue and Share price8 2. 2. 2 Return10 2. 2. 3 Risk14 2. 3 Funding and …

Cost Calculations – Managerial Accounting

Problem 1 Page 40 a- Cost of goods manufactured = Direct cost + Indirect cost = [Direct Cost of Material + Direct Cost of Labor] + [Indirect Cost of Material + Indirect Cost of Labor + Utilities Overhead] = Total Cost of Material + Total Cost of Labor + Utilities Overhead = 120,000 + 90,000 …

Financial and Management Accounting

Fall 2012 Master of Business Administration- MBA Semester 1 MB0041 – Financial And Management Accounting – 4 Credits (Book ID: B1624) Assignment Set – 1 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions. 1. Explain the process involved in accounting. 2. The salaries paid in 2004 is Rs. 5,00,000; Salaries outstanding …

Managerial Accounting role of external auditors and their interactions with client companies

What ethical threshold did Mr. Jack Grubman cross when he started advising the board of WorldCom? How does this relate to the role of external auditors and their interactions with client companies? As an analyst, Mr. Jack Grubman had the authority and objective expertise to pass judgment on WorldCom stock for prospective investors. This included …

Accounting Information System

Accounting Information System (AIS An accounting information system (AIS) is a system of collection, storage and processing of financial and accounting  data that is used by decision makers. accounting information system (AIS) consists of: – People – Procedures – Data – Software – Information technology infrastructure What important functions does the AIS perform in an organization? 1. It collects …

Cost Accounting

Cost Accounting, 14e (Horngren/Datar/Rajan) Chapter 20 Inventory Management, Just-in-Time, and Simplified Costing Methods Objective 20. 1 1) Which of the following industries would have the highest cost of goods sold percentage relative to sales? A) computer manufacturers B) retail organizations C) drug manufacturers D) The percentage will usually depend on the success of a particular …

Cost Accounting – Acct 3334 Chapter 9 Solutions

Chapter 9 solutions (P9-28, -29, -40)  9-28 (10 min. ) CDenominator-level problem 1. Budgeted fixed manufacturing overhead costs rates: Budgeted Fixed Budgeted Fixed Denominator Manufacturing Budgeted Manufacturing Level Capacity Overhead per Capacity Overhead CostConceptPeriodLevelRate Theoretical$4, 560, 0003, 600 $ 1, 266. 67 Practical4,560,0002,4001,900. 00 Normal4,560,0001,2003,800. 00 Master-budget4,560,0001,4403,166. 67 The rates are different because of varying …

Modern Accounting Systems

Modern Accounting Systems Marcello F. Pirrelli Introduction to Accounting – ACC 205 Professor: Beher Haski 01 October 2012 Part I: Introduction Over the years, through trial and error, modern accounting systems have changed for both the better and worse. Modern accounting systems fulfill the basic accounting needs while offering increased accuracy in tracking trends, enabling …

Accounting Ch17 Answer

Visit Free Slides and Ebooks : http://downloadslide. blogspot. com CHAPTER 17 Investments ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Debt investments. (a) Held-for-collection. (b) Trading. 2. Bond amortization. 3. Equity investments. (a) Non-trading. (b) Trading. Questions 1, 2, 3, 13 4, 5, 6, 8, 11, 13 2, 4, 7, 8, 9, 22 6, 7 1, …

Managerial Accounting

5-5Production Report, No Beginning Inventory Wantler Company Mixing Department  Production Report for 2001 Unit Information Units to account for: Units in beginning WIP0 Units started 75,000 Units to account for 75,000 Units accounted for: Equivalent Units Physical Direct Conversion Flow Materials Costs Units completed 75,000 75,000 75,000 Units in ending WIP 12,000 12,000 11,400 Total …

Payroll Accounting Project

CHAPTER 7 Note to Instructors Depending upon the availability of time and your goals in teaching the payroll accounting course, you may use the Payroll Project in one of several ways: 1. Assign only the preparation of payroll registers and posting to employees’ earnings records. 2. Assign (1) plus recording the entries in the general …

Decision Making – Cost Accounting

Decisions Involving Alternative Choices Structure: 13. 1 Introduction Objectives 13. 2 Decision Making 13. 3 Types of Costs 13. 4 Types of Choices Decisions 13. 5 Make or Buy Decisions 13. 6 Addition / Discontinuance of a Product line 13. 7 Sell or Process Further 13. 8 Operate or Shut down 13. 9 Exploring New …

Cost Accounting 14th Edition Problem 15-35

COST ACCOUNTING P 15-35 Required: 1. Using selling prices, allocate the $1,000 gateway-package revenue to the three divisions using: a. The stand-alone revenue-allocation method | Selling Price| Rev. Allocation| Precio por cuarto para dos personas 2 noches| $800| $581. 82| Dos “rounds” de golf con precio de | 375| 272. 73| Una cena para dos| …

Accounting

Require: Choose the best answer for these questions as below: (40 marks) 1. Which of the following costs would be classified as a period cost? a) Direct labor. b) Direct materials. c) Factory overhead. d) Selling expenses. 2. Costs that rise and fall proportionately with the volume of output are often referred to as: a) …

Management Accounting

Question: 1 Mini Project topic: Introduction to Management Accounting. You are the person in charge of the management accounting department of a manufacturing company. You are required to mentor your junior of the r staff on the essentials of the management accounting in the following areas: (Note: you may need to create an illustration to …

Manangement Accounting 1

I hereby declare that the work in this assignment is my own except for quotations and summaries which have been duly acknowledged. __________________________________________ Name : SANTIRIKA A/P G. VEERAN Matrix No : 861109355388001 Date : 7 MARCH 2013 i ACKNOWLEDGMENT I would like to express my greatest gratitude to the people who have helped and …

Accounting Equations

ACCOUNTING EQUATIONS 1. Show the accounting equation for the following transaction (i) Ram started business with cash 20000, stock 50000, building 30000 (ii) Sold goods to Amit for cash 20000 and credit 15000 (iii) Paid rent 500 and rent outstanding 150 (iv) Sold goods costing 12000 for Rs. 15000 (v) Accrued commission 2000 (vi) Furniture …

Accounting Assignment Week 5

16-1, 16-2, 16-3, 16-5 Exercise 16-1Identifying cash inflows and outflows Indicate which of the following items will result in cash inflows and which will result in cash outflows. The first one is shown as an example. Initial investment |Outflow | |Salvage values |Inflow | |Recovery of working capital |Inflow | |Incremental expenses |Outflow | |Working …

Aig Accounting Scandal

Guidelines for Memos A list of resources for good business writing appears at the end of this document. It is strongly recommended that any serious business person consider owning writing resources. Written communication is often the distinguishing factor in determining career success in any business or government environment. The following are general guidelines intended to …

Accounting: Costs and Learning Objective

econonmMicroeconomics Review Quiz Test 2 1. When is marginal utility equal to zero? A. When TU is zero. B. When MU is at its maximum. C. When TU is at its maximum. D. When MU is at its minimum. The following table shows Mia’s $ marginal utility for litres of soya milk: 2. Refer to …

Financial Accounting Final Answers

ANSWERS 1 a) 1 b) 1 c) 1 d) 1 e) 1 f) This transaction has no effect on the balance sheet since this is only an order, no financial value. 1 g) 1 h) 1 i) 1 j) 2 a) a] b] c] d] e] f] g] h] j] k] l] 2 b) INCOME …

Influence of Rules and Regulation on Public Sector Accounting Practice

Title: Rules And Regulation In Public Sector Accounting. Date / Time: 07 October 2012 (Monday) / 4:00 Pm Location: Room Spk308, Othman Yeop Abdullah Building (School Of Accounting. ) Guest: Student Of Public Sector Accounting Group C Agenda: Influence Of Rules And Regulation On Public Sector Accounting Practise. Last Sunday, we are discussing about the …

Accounting Test 2

Exam Chapters 3,4,7 Student: 1. Which of the following is the correct formula to compute the predetermined overhead rate? A. Estimated total units in the allocation base divided by estimated total manufacturing overhead costs. B. Estimated total manufacturing overhead costs divided by estimated total units in the allocation base. C. Actual total manufacturing overhead costs …