HÖGSKOLAN I BORÅS. ANALYS OCH BEDÖMNING AV FÖRETAG OCH FÖRVALTNING 7,5 Högskolepoäng. Tillåtna hjälpmedel: Miniräknare samt engelsk-svenskt lexikon
|
|
- Henry Lawrence
- 7 years ago
- Views:
Transcription
1 HÖGSKOLAN I BORÅS ANALYS OCH BEDÖMNING AV FÖRETAG OCH FÖRVALTNING 7,5 Högskolepoäng Provmoment: Tentamen Ladokkod: Namn: Personnummer: Tentamensdatum: Tid: Tillåtna hjälpmedel: Miniräknare samt engelsk-svenskt lexikon Totalt antal frågor på tentamen: 4 frågor Totalt antal poäng på tentamen: 35 poäng För godkänt på tentamen krävs minst 17,5 poäng Rättningstiden är tre veckor. OBS: Glöm inte att skriva namn och presonnummer på alla blad du lämnar in. Lärare : Hossein Pashang ( )
2 Example 1: Bundled sales (8 Poäng) Software companies often sale their products in bundles of more than one product or service. The contract is written in lump-sum but delivery is multiple. For example, beside the software itself, other deliveries include such as upgrade, post contract, customer support, and training. Torpa Data which is a small IT-company sold a database software to the University for SEK on contract. The contract stipulates that in addition to software, Torpa Data shall provide training on the use of the software, a free upgrade, and customer support over the five years of the licensing agreement. The fair market value of these individual elements (if sold separately) is as follows: Fair value Database software Training Upgrades Customer support Total estimate fair values Question: 1: in which ways each item of the bundle sale (database software, training, upgrades, and customer support) which amounted to SEK should be apportioned. 2: Discuss about the rules applied to recognize revenues in regards with the items delivered during the contract.
3 Example: 2 (8 poäng) Accountant of a manufacturing company identify the following costs (MSEK) which need to be sorted and registered in the respective accounts: a) Depreciation on plant equipments b) Depreciation on salespersons automobiles c) Insurance on plant building d) Marketing managers salary e) Raw materials applied to WIP f) Raw materials applied to manufacturing overheads g) Plant repairs and maintenance h) Electricity bill for home office i) Production employee wages paid and applied to WIP j) Overheads applied to WIP Your task is to: 1: present the costs as either category of the inventorial (manufacturing) or period cost (4 P). 2: present the costs by T- accounts. Note: the T-accounts should have the correct names by consideration of correct debit and credit rules (4p)
4 Example 3: Compute the missing amounts of the following table (12 p). Beginning work in process Company X Company Y Company Y A Direct materials used Direct labour G Manufacturing overhead B Total manufacturing cost incurred D H Total manufacturing cost account for E Less ending work in process inventory C Cost of goods manufactured F I Example 4: Allocation of the costs of building service department. (7 poäng)
5 A department has four sections. These sections have their own cost centres and manufacturing control overheads: A general factory, cutting, sewing, and finishing. A building service department provides services for these sections and therefore its overheads should be divided and added to the overheads of the respective sections. According to the following table square meter is used as a basis of apportioning the overheads. Departments Square meter occupied percent A (general factory) B (cutting) C (Sewing) D (Finishing) Total : Manufacturing overhead costs of the building services department for October 2007, total 1506 MSEK should be prorated to the other departments. How much is the overhead services of each department? (4p) 2: Manufacturing overhead costs of the building service department for a year period (12 months) amounted to MSEK. Controller of the departments discovered that during this period, the building service department did not provide any services for the finishing section. How much is the overhead services of General Factory, Cutting and Swing (if finishing section did not use the service)? (3p)
Rättningstiden är i normalfall tre veckor, annars är det detta datum som gäller:
Analys och bedömning av företag och förvaltning tentamen Ladokkod: SAN023 Tentamen ges för: Namn: (Ifylles av student Personnummer: (Ifylles av student) Tentamensdatum: Tid: 2014-01-13 Hjälpmedel: Lexikon
More informationNamn: (Ifylles av student) Personnummer: (Ifylles av student) Tentamensdatum: 2011-08-24 Tid: 14.00 17.00. Hjälpmedel: Inga hjälpmedel
Game Programming Provmoment: Ladokkod: Tentamen ges för: Tentamen NGP012 Systemarkitektprogrammet 7,5 högskolepoäng Namn: (Ifylles av student) Personnummer: (Ifylles av student) Tentamensdatum: 2011-08-24
More informationTentamen NGP012 Systemarkitektprogrammet. 24 poäng
Game Programming Provmoment: Ladokkod: Tentamen ges för: Tentamen NGP012 Systemarkitektprogrammet 7,5 högskolepoäng Namn: (Ifylles av student) Personnummer: (Ifylles av student) Tentamensdatum: 2013-03-27
More informationHjälpmedel: Physics Handbook samt räknedosa. Tabell över vissa kärndata bifogas.
Tentamensskrivning i Kärnfysik (FK7010), 7,5hp Fredag den 28 mars 2008 kl 9-15 Hjälpmedel: Physics Handbook samt räknedosa. Tabell över vissa kärndata bifogas. Denna tentamen består av två delar. Den första
More informationJob-order Costing; T-Accounts; Income Statement
JOB-ORDER COSTING 1 Job-order Costing; T-Accounts; Income Statement Gold Nest Company is a family-owned enterprise that makes birdcages in Chinatown. A popular pastime among older Chinese men is to take
More informationAGENDA: JOB-ORDER COSTING
TM 3-1 AGENDA: JOB-ORDER COSTING A. The documents in a job-order costing system. 1. Materials requisition form. 2. Direct labor time ticket. 3. Job cost sheet. B. Applying overhead using a predetermined
More informationCHAPTER 9. Cost accounting systems CONTENTS
CHAPTER 9 Cost accounting systems CONTENTS 9.1 Job order costing and factory overhead 9.2 Job order costing 9.3 Process costing 9.4 Calculating unit costs with process costing 9.5 Cost of production reports
More informationExam 1 Chapters 1-3 Key
Exam 1 Chapters 1-3 Key 1. Which of the following should NOT be included as part of manufacturing overhead at a company that makes office furniture? A. Sheet steel in a file cabinet made by the company.
More informationEngelsk Grammatik. Namn: Personnummer: Institutionens anteckningar: Maxpoäng: 62 Din poäng: Betyg:
1(11) Engelsk Grammatik Skriftligt prov för ENG A21, 17 november 2007, kl. 9-12. Namn: Personnummer: Institutionens anteckningar: Maxpoäng: 62 Din poäng: Betyg: Ifylles av skrivvakten: Legitimation Terminskort
More informationSociety of Certified Management Accountants of Sri Lanka
Copyright Reserved Serial No Technician Stage March 2009 Examination Examination Date : 28 th March 2009 Number of Pages : 06 Examination Time: 9.30a:m.- 12.30p:m. Number of Questions: 05 Instructions
More information1. Managerial accounting: A. is governed by generally accepted accounting principles. B. places emphasis on special-purpose information.
1. Managerial accounting: A. is governed by generally accepted accounting principles. B. places emphasis on special-purpose information. C. pertains to the entity as a whole and is highly aggregated. D.
More informationChapter 4. Systems Design: Process Costing. Types of Costing Systems Used to Determine Product Costs
4-1 Types of Systems Used to Determine Product Costs Chapter 4 Process Job-order Systems Design: Many units of a single, homogeneous product flow evenly through a continuous production process. One unit
More information29.1 COST SHEET : MEANING AND ITS IMPORTANCE
29 COST SHEET You are running a factory which manufactures electronic toys. You incur expenses on raw material, labour and other expenses which can be directly attibuted to cost and which cannot be directly
More informationChapter 3 Notes Page 1
Chapter 3 Notes Page 1 Job-Order System There are basically two approaches to assign manufacturing costs to products produced or services rendered: Job-Order Costing and Process Costing. The approach that
More informationThere are two basic types of cost accounting systems:
CHAPTER 2 JOB ORDER COSTING Managerial Accounting, Fourth Edition 2-1 Cost Accounting Systems There are two basic types of cost accounting systems: 2-2 LO 1: Explain the characteristics and purposes of
More informationCopyright 2015 Pearson Canada Inc. 1
1 Building Blocks of Managerial Accounting CHAPTER 2 2 Distinguish among service, merchandising, and manufacturing companies OBJECTIVE 1 3 Service Companies Provide an intangible service only Largest sector
More informationn System Design Job Order Costing n What is Product Costing n Types of Product Costing n When and how to use Job-Order Costing McGraw-Hill /Irwin
2-1 Today s Lecture Management Accounting Lecture 7 (Chapter 2) Systems Design: n System Design Job Order Costing n What is Product Costing n Types of Product Costing n When and how to use n Journal entries
More informationB. Division of Costs The purpose of a Manufacturing Account is to ascertain Cost of Production ( ).
Manufacturing Accounts ( ) S5 Manufacturing Account/LWL A. Function of a Manufacturing Acccount For those businesses which deal with manufacturing products. It is common in today s business to act both
More informationSOLUTIONS TO EXERCISES
EXERCISE 10-1 (15 20 minutes) SOLUTIONS TO EXERCISES Item Land Land Improvements Building Other Accounts (a) ($275,000) Notes Payable (b) $275,000 (c) $ 8,000 (d) 7,000 (e) 6,000 (f) (1,000) (g) 22,000
More informationHjälpmedel: Physics Handbook. Kopior ur läroboken bifogas, räknedosa finns att tillgå vid tentamen.
Tentamensskrivning i Kärnfysik (FK7010), 7,5hp Torsdagen den 15 mars 2012 kl. 9-14 Hjälpmedel: Physics Handbook. Kopior ur läroboken bifogas, räknedosa finns att tillgå vid tentamen. Denna tentamen består
More informationMarginal and. this chapter covers...
7 Marginal and absorption costing this chapter covers... This chapter focuses on the costing methods of marginal and absorption costing and compares the profit made by a business under each method. The
More informationNON-INTEGRAL OR COST LEDGER ACCOUNTING SYSTEM
CHAPTER 7 NON-INTEGRAL OR COST LEDGER ACCOUNTING SYSTEM INTRODUCTION Just as financial accounting system is maintained with certain objectives in view, cost accounting system is often distinctively maintained
More informationUniversity of Waterloo Final Examination
University of Waterloo Final Examination Term: Winter Year: 2006 Student Name UW Student ID Number Place an X by the section in which you are registered: 1 (MWF 8:30 am to 9:20 am) 2 (MWF 9:30 am to 10:20
More informationIND AS 2 INVENTORIES DEFINITION. Inventories are assets held - WIP
IND AS 2 INVENTORIES - Anand Banka DEFINITION Inventories are assets held - FG for sale in the ordinary course of business WIP in the process of production for such sale RM in the form of materials and
More informationCHAPTER 12. Cost Sheet ( or) Statement of Cost ELEMENTS OF COST
CHAPTER 12 Cost Sheet ( or) Statement of Cost Introduction ELEMENTS OF COST Elements of cost are necessary to have a proper classification and analysis of total cost. Thus, elements of cost provide the
More informationQuiz Chapter 3 - Solutions. 1. The manufacturing operation that would be most likely to use a job-order costing system is:
Quiz Chapter 3 - Solutions 1. The manufacturing operation that would be most likely to use a job-order costing system is: A) toy manufacturing. B) candy manufacturing. C) crude oil refining. D) shipbuilding.
More informationFinancial Statements for Manufacturing Businesses
Management Accounting 31 Financial Statements for Manufacturing Businesses Importance of Financial Statements Accounting plays a critical role in decision-making. Accounting provides the financial framework
More informationVariable Costs. Breakeven Analysis. Examples of Variable Costs. Variable Costs. Mixed
Breakeven Analysis Variable Vary directly in proportion to activity: Example: if sales increase by 5%, then the Variable will increase by 5% Remain the same, regardless of the activity level Mixed Combines
More informationCHAPTER19. Acct202. Managerial Accounting 19-1
CHAPTER19 Managerial Accounting Acct202 19-1 PreviewofCHAPTER19 19-2 Managerial Accounting Basics Managerial accounting, a field of accounting that provides economic and financial information for managers
More informationProfessional Development Programme on Enriching Knowledge of the Business, Accounting and Financial Studies (BAFS) Curriculum
Professional Development Programme on Enriching Knowledge of the Business, Accounting and Financial Studies (BAFS) Curriculum Course 1 : Contemporary Perspectives on Accounting Unit 7 : Marginal and Absorption
More information1. The cost of a hard-drive installed in a computer: direct materials cost.
Brief Exercise 1-1 (15 minutes) 1. The cost of a hard-drive installed in a computer: direct materials cost. 2. The cost of advertising in the Puget Sound Computer User newspaper: selling cost. 3. The wages
More informationAbsorption Costing - Overview
Absorption Costing - Overview 1. Overview of Absorption costing and Variable Costing 2. Review how costs for Manufacturing are transferred to the product 3. Job Order Vs. Process Costing 4. Overhead Application
More informationSjukförsäkring. If you are signed off sick for a long period. Include your family!
Sjukförsäkring If you are signed off sick for a long period Long-term sickness can have a considerable effect on your finances. Reduction in income due to long term sickness can often lead to financial
More informationMONDAY, 18 MAY 9.00 AM 11.00 AM
X09/11/01 NATIONAL QUALIFICATIONS 015 MONDAY, 18 MAY 9.00 AM 11.00 AM ACCOUNTING INTERMEDIATE Candidates should attempt four questions as follows: Question 1 and one other from Section A plus Question
More informationIntroduction To Cost Accounting
Page 1 Introduction To Cost Accounting 15.501/516 Accounting Spring 2004 Professor S. Roychowdhury Sloan School of Management Massachusetts Institute of Technology April 28, 2004 6 Outline Overview of
More informationGeneral Certificate of Education Advanced Level Examination June 2013
General Certificate of Education Advanced Level Examination June 2013 Accounting ACCN4 Unit 4 Further Aspects of Management Accounting Monday 10 June 2013 1.30 pm to 3.30 pm For this paper you must have:
More informationConstruction Accounting and Financial Management
Debits and Credits Construction Accounting and Financial Management Chapter 3 Accounting Transactions Invoice (Materials) Charged to a Job without Retention 310 Accounts Payable-Trade (Credit) 610 Materials
More informationAppendix 8A. General Ledger Entries to Record Variances. Direct Materials Variances. Direct Labour Variances
Appendix 8A General Ledger Entries to Record Variances Although standard costs and variances can be computed and used by management without being formally entered into the accounting records, most organizations
More informationDutchess Community College ACC 204 Managerial Accounting Quiz Prep Chapter 2
Dutchess Community College ACC 204 Managerial Accounting Quiz Prep Chapter 2 Job Order Cost Accounting Peter Rivera January 2010 Disclaimer This Quiz Prep is provided as an outline of the key concepts
More informationThe Basic Framework of Budgeting
Master Budgeting 1 The Basic Framework of Budgeting A budget is a detailed quantitative plan for acquiring and using financial and other resources over a specified forthcoming time period. 1. The act of
More informationPaper MA1. Management Information FOUNDATIONS IN ACCOUNTANCY. Specimen Exam applicable from June 2014
FOUNTIONS IN OUNTNY Management Information Specimen Exam applicable from June 2014 Time allowed: 2 hours LL 50 questions are compulsory and MUST be attempted. Paper M1 o NOT open this paper until instructed
More informationAccounting Building Business Skills. Learning Objectives: Learning Objectives: Paul D. Kimmel. Chapter Thirteen: Cost Accounting Systems
Accounting Building Business Skills Paul D. Kimmel Chapter Thirteen: Cost Accounting Systems PowerPoint presentation by Kate Wynn-Williams University of Otago, Dunedin 2003 John Wiley & Sons Australia,
More informationMANUFACTURING ACCOUNTS PRODUCTION COST STATEMENTS / BREAK-EVEN ANALYSIS CALCULATION
SESSION 12: MANUFACTURING ACCOUNTS PRODUCTION COST STATEMENTS / BREAK-EVEN ANALYSIS CALCULATION KEY CONCEPTS: In this session we will look at: - Manufacturing Accounts X-AMPLE QUESTIONS: QUESTION 1: You
More informationModule 2: Job-order costing
Module 2: Job-order costing Required reading Overview Chapter 3, pages 69-99 This module introduces the distinctions between two methods of determining unit costs of production joborder costing and process
More informationBASIC CONCEPTS AND FORMULAE
7 Contract Costing BASIC CONCEPTS AND FORMULAE Basic Concepts 1. Contract costing:- Contract or terminal costing, as it is termed, is one form of application of the principles of job costing. In fact a
More informationApplication for Schengen Visa
Application for Schengen Visa Photo This application form is free 1. (x) For official use only 2. Surname at birth (Former family name(s)) (x) Date of application: 3. First name(s) (Given name(s)) (x)
More informationClassification of Manufacturing Costs and Expenses
Management Accounting 51 Classification of Manufacturing Costs and Expenses Introduction Management accounting, as previously explained, consists primarily of planning, performance evaluation, and decision
More informationSuggested layouts for financial statements in Accounting Courses National 5 and Higher
Suggested layouts for financial statements in Accounting Courses National 5 and Higher The following suggested layouts may be used when presenting financial statements in the Accounting Courses for National
More informationOM and Finance Interface Chapter 5
OM and Finance Interface Chapter 5 1 Learning Objectives Return On Invested Capital (ROIC) Linking operational decisions to ROIC 2 Paul Downs started making furniture in 1986, in a small shop in Manayunk.
More informationy = a + bx Chapter 10: Horngren 13e The Dependent Variable: The cost that is being predicted The Independent Variable: The cost driver
Chapter 10: Dt Determining ii How Costs Behave Bh Horngren 13e 1 The Linear Cost Function y = a + bx The Dependent Variable: The cost that is being predicted The Independent Variable: The cost driver The
More informationSOLUTIONS. Learning Goal 15
Learning Goal 15: Prepare a Classified S1 Learning Goal 15 Multiple Choice 1. b 2. c 3. a 4. b 5. d 6. a 7. c Their importance in paying current liabilities is the main reason current assets are shown
More informationBASIC CONCEPTS AND FORMULAE
12 Marginal Costing BASIC CONCEPTS AND FORMULAE Basic Concepts 1. Absorption Costing: a method of costing by which all direct cost and applicable overheads are charged to products or cost centers for finding
More informationThis is How Is Job Costing Used to Track Production Costs?, chapter 2 from the book Accounting for Managers (index.html) (v. 1.0).
This is How Is Job Costing Used to Track Production Costs?, chapter 2 from the book Accounting for Managers (index.html) (v. 1.0). This book is licensed under a Creative Commons by-nc-sa 3.0 (http://creativecommons.org/licenses/by-nc-sa/
More informationLesson-13. Elements of Cost and Cost Sheet
Lesson-13 Elements of Cost and Cost Sheet Learning Objectives To understand the elements of cost To classify overheads on different bases To prepare a cost sheet Elements of Cost Raw materials are converted
More informationAccounting for a Merchandising Business
Chapter 11 Accounting for a Merchandising Business ANSWERS TO SECTION 11.1 REVIEW QUESTIONS (text p. 428) The Merchandising Business 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 1. 2. 3. 4. 14. 15. Copyright
More informationParental benefits [Föräldrapenning]
Parental benefits [Föräldrapenning] Parental benefits are the benefits parents receive to be able to be at home with their children instead of working. A total of 480 days of benefits are paid per child.
More informationCOST AND MANAGEMENT ACCOUNTING
EXECUTIVE PROGRAMME COST AND MANAGEMENT ACCOUNTING SAMPLE TEST PAPER (This test paper is for practice and self study only and not to be sent to the institute) Time allowed: 3 hours Maximum marks : 100
More informationCHAPTER 23 WORKING CAPITAL FINANCING
CHAPTER 23 WORKING CAPITAL FINANCING Uses of Musharakah instrument in working capital financing Where finances are required for the working capital of a running business, the instrument of Musharakah may
More informationChapter 4 Job Order Costing. Job Costing vs. Process Costing Procedure of Job Costing Actual vs. normal Costs
Chapter 4 Job Order Costing Job Costing vs. Process Costing Procedure of Job Costing Actual vs. normal Costs 1 Building Block Concepts of Costing Systems The following five terms constitute the building
More informationCHAPTER 30. Cost Audit
CHAPTER 30 Meaning is the verification of the cost accounts and of the adherence to the cost accounting plan. That is, it not only involves the examination of cost accounts but also the fact that plan
More informationPrinciples of Cost Accounting, 16th Edition, Edward J. VanDerbeck, 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or
Principles of Cost Accounting, 16th Edition, Edward J. VanDerbeck, 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
More informationChapter 2 Cost Terms, Concepts, and Classifications
Chapter 2 Cost Terms, Concepts, and Classifications Solutions to Questions 2-1 The three major elements of product costs in a manufacturing company are direct materials, direct labour, and manufacturing
More informationBUSINESS INTERRUPTION Loss of Profits, Salaries and Fixed Expense Insurance S A M P L E
BUSINESS INTERRUPTION Loss of Profits, Salaries and Fixed Expense Insurance Perils Covered Loss of net profits, salaries and fixed expenses of the insured business arising out from the operation of buildings,
More information6 Costing of Service Sector
6 Costing of Service Sector LEARNING OBJECTIVES : After finishing this chapter, you will be able to understand and appreciate the peculiarities involved in the costing of service sector. Through this chapter
More informationCost Concepts and Behavior
Chapter 2 Cost Concepts and Behavior McGraw-Hill/Irwin Copyright 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives L.O. 1 Explain the basic concept of cost. L.O. 2 Explain
More informationAccounting and Finance Management Accounting Computer-Based Exemplars Int 2/Higher 3841
Accounting and Finance Management Accounting Computer-Based Exemplars Int 2/Higher 3841 Autumn 1998 HIGHER STILL Accounting and Finance Management Accounting Computer-Based Exemplars Overhead Apportionment
More informationCASH BUDGETS AND RELATED TOPICS
CASH BUDGETS AND RELATED TOPICS Article relevant to Formation 2 Management Accounting Author: Neil Hayden, current Examiner. In projected cash flow statements the information can be presented in a variety
More informationhow to prepare a profit and loss (income) statement
business builder 3 how to prepare a profit and loss (income) statement amegy bank business resource center how to prepare a profit and loss (income) statement 2 how to prepare a profit and loss (income)
More information- 1 - Cost Drivers. Product Diversity - Difference in product size, product complexity, size of batches and set-up times cause product diversity.
- 1 - Traditional Cost Accounting It arbitrarily allocates overheads to the cost objects. Total Company s overhead is allocated based on volume based measure e.g. labour hours, machine hours. Here the
More informationBUSINESS BUILDER 3 HOW TO PREPARE A PROFIT AND LOSS (INCOME) STATEMENT
BUSINESS BUILDER 3 HOW TO PREPARE A PROFIT AND LOSS (INCOME) STATEMENT zions business resource center 2 how to prepare a profit and loss (income) statement A Profit and Loss (P&L) or income statement measures
More informationC02-Fundamentals of financial accounting
Sample Exam Paper Question 1 The difference between an income statement and an income and expenditure account is that: A. An income and expenditure account is an international term for an Income statement.
More informationMultiple Choice Questions (45%)
Multiple Choice Questions (45%) Choose the Correct Answer 1. The following information was taken from XYZ Company s accounting records for the year ended December 31, 2014: Increase in raw materials inventory
More informationCHAPTER 2 ACCOUNTING FOR TRANSACTIONS
CHAPTER 2 ACCOUNTING FOR TRANSACTIONS Key Terms and Concepts to Know Double entry accounting: Debits and Credits Total debits must always equal total credits Accounting Books: Accounts General Journal
More informationACC 561 Week 3 Assignment Practice Quiz
ACC 561 Week 3 Assignment Practice Quiz To purchase this material click below link http://www.assignmentcloud.com/acc-561/acc-561- Week-3-Assignment-Practice-Quiz Multiple Choice Question 37 A major purpose
More informationChapter 14. 1 Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall.
Chapter 14 1 Identify the purposes of the statement of cash flows Distinguish among operating, investing, and financing cash flows Prepare the statement of cash flows by the indirect method Identify noncash
More informationWorking Capital Concept & Animation
Working Capital Concept & Animation Meaning A measure of both a company's efficiency and its short-term financial health. The working capital is calculated as: Working Capital = Current Assets Current
More informationWORKING CAPITAL MANAGEMENT
CHAPTER 9 WORKING CAPITAL MANAGEMENT Working capital is the long term fund required to run the day to day operations of the business. The company starts with cash. It buys raw materials, employs staff
More informationResidual carrying amounts and expected useful lives are reviewed at each reporting date and adjusted if necessary.
87 Accounting Policies Intangible assets a) Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of identifiable net assets and liabilities of the acquired company
More informationThe estimated total cash collections during April from sales and accounts receivables would be: A) $155,900. B) $167,000. C) $171,666. D) $173,400.
1. Orion Corporation is preparing a cash budget for the six months beginning January 1. Shown below are the company's expected collection pattern and the budgeted sales for the period. Expected collection
More informationJob, Batch and Process Costing
CHAPTER 20 Job, Batch and Process Costing Meaning Methods of Costing are broadly classified into (1) Specific Order Costing and (2) Operation Costing. The tenn Specific Order Costing refers to the basic
More informationCHAPTER 20. Job Order Cost Accounting ASSIGNMENT CLASSIFICATION TABLE. Brief. A Problems. B Problems
CHAPTER 20 Job Order Cost Accounting ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems 1. Explain the characteristics and purposes of cost accounting.
More informationMcGraw-Hill /Irwin 2-2 A company produces many units of a single product. One unit of product is indistinguishable from other units of product.
Chapter 2-1 Chapter 2 Systems Design: Job-Order Costing McGraw-Hill /Irwin The McGraw-Hill Companies, Inc., 2007 Learning Objective LO1 To distinguish between process costing and job-order costing and
More informationJOB ORDER COST 10 SYSTEMS AND OVERHEAD ALLOCATIONS
10-1 10-2 Chapter JOB ORDER COST 10 SYSTEMS AND OVERHEAD ALLOCATIONS To explain the purposes of cost accounting systems. LO1 10-3 10-4 Cost Accounting Systems Cost Accounting Systems Determining unit manufacturing
More informationParental benefit [Föräldrapenning]
Parental benefit [Föräldrapenning] You can receive parental benefit to stay home from work to take care of your child. Parental benefit, which is paid for a total of 480 days per child, has three different
More informationInternational Accounting Standards
International Accounting Standards The Key Issues in IAS 2 and 11 Background In this second of my series on international accounting standards, I have chosen to look at the two standards covering the topic
More informationLicensed to: Copyright 2009 Cengage Learning, Inc. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part.
Licensed to: ichapters User Managerial Accounting, 10e Warren Reeve Duchac VP/Editorial Director: Jack W. Calhoun Editor in Chief: Rob Dewey Executive Editor: Sharon Oblinger Developmental Editor: Aaron
More informationHouse Published on www.jps-dir.com
I. Cost - Volume - Profit (Break - Even) Analysis A. Definitions 1. Cost - Volume - Profit (CVP) Analysis: is a means of predicting the relationships among revenues, variable costs, and fixed costs at
More informationBusiness Interruption Insurance. Module 1: The Basics of BI
Module 1: Introduction Business Interruption ( BI ) insurance and claims are built on a few basic principles and if these are well understood the mystery of the subject is resolved. This article is the
More informationINTERNATIONAL ACCOUNTING STANDARDS. CIE Guidance for teachers of. 7110 Principles of Accounts and. 0452 Accounting
www.xtremepapers.com INTERNATIONAL ACCOUNTING STANDARDS CIE Guidance for teachers of 7110 Principles of Accounts and 0452 Accounting 1 CONTENTS Introduction...3 Use of this document... 3 Users of financial
More informationLesson 5: Inventory. 5.1 Introduction. 5.2 Manufacturer or Retailer?
Lesson 5: Inventory 5.1 Introduction Whether it is a brick and mortar or digital store, for many businesses, inventory management is a key cog of their operations. Managing inventory is an important key
More informationREVIEW FOR EXAM NO. 1, ACCT-2302 (SAC) (Chapters 16-18)
A. Chapter 16 (Managerial Accounting). 1. Purposes and Principles. (Page 956) REVIEW FOR EXAM NO. 1, ACCT-2302 (SAC) (Chapters 16-18) a. Provides economic/financial information (both historical and estimated)
More informationMerchandise Inventory, Cost of Goods Sold, and Gross Profit. Pr. Zoubida SAMLAL
Merchandise Inventory, Cost of Goods Sold, and Gross Profit Pr. Zoubida SAMLAL 1 Accounting for Inventory Inventory (balance sheet) = Number of units of inventory on hand X Cost per unit of inventory Cost
More informationRatio Analysis. A) Liquidity Ratio : - 1) Current ratio = Current asset Current Liability
A) Liquidity Ratio : - Ratio Analysis 1) Current ratio = Current asset Current Liability 2) Quick ratio or Acid Test ratio = Quick Asset Quick liability Quick Asset = Current Asset Stock Quick Liability
More informationSTUDENT NAME: STUDENT ID:
MIDTERM EXAM AFM 102: Introduction to Managerial Accounting Sections 001, 002, 003 and 004 February 29, 2008: 4:30 6:00 PM Instructors: Rob Ducharme; Thomas Vance STUDENT NAME: STUDENT ID: TUTORIAL: Room:
More information12 Marginal Costing. 12.1 Definitions
12 Marginal Costing Learning Objectives When you have finished studying this chapter, you should be able to Understand the difference between absorption costing and marginal costing Understand the concept
More informationUG802: COST MEASUREMENT AND COST ANALYSIS
UG802: COST MEASUREMENT AND COST ANALYSIS April 6, 2014 Kanokporn Rienkhemaniyom, Ph.D. Managerial Accounting - Overview Definition: A profession that involves partnering in management decision making,
More informationVol. 1, Chapter 3 - Accounting Adjustments
Vol. 1, Chapter 3 - Accounting Adjustments Problem 1 1. ($20,000 2,000) 48 = $375 per month 2. Jan. 31 Depreciation Expense $375 Accumulated Depreciation Van $375 To record depreciation expense for January
More informationPurchasing/Human Resources/Payment Process: Recording and Evaluating Expenditure Process Activities
Chapter 8 Purchasing/Human Resources/Payment Process: Recording and Evaluating Expenditure Process Activities McGraw-Hill/Irwin Copyright 2011 by The McGraw-Hill Companies, Inc. All rights reserved. What
More information