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You are a beginner accountant with a large accountancy firm and a training day has been organised to update all technical staff on a range of topics across numerous technical disciplines.
You have been enquired to prepare a brief report for enclosure in the course notes which will be distributed to all staff attending the training day. The report is to cover the current attempts at convergence between IFRS and US GAAP.
Required:
Prepare the report, explaining the growth to date of the convergence project. Include four examples of areas of accounting where convergence has been accomplished.
Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass $75,000 Repair parts 16,000
what are the concept and objectives of cost accounting?
Example of Process Cost Report Let suppose that the beginning work in progress in a Company in the month of November was 1,000 units that were 100 percent complete in terms of
The total demand (marginal benefit) curve for visiting Yosemite is as follows: Price = 5000-10*NumberOfTrips -10*TonsOfVisibleTrash. a. Suppose the quantity of trash=100 tons. D
prepare a trading and profit and loss accounts for the period using marginal costing and absorption costing
Cost Accounting Cost accounting has been defined via many accounting scholars in different forums. There is no single watertight definition of cost accounting, however the var
One month before she died on April 14, 2002, Barbara Gent (Amy's aunt) gave Amy a coin collection. Based on careful records that Barbara kept, the collection had a cost basis of $9
annual usage rs 160000@ 40 per unit, cost of placing and receiving one order rs 200:annual carrying cost ; 25% of inventory value
ANNUAL DEMAND = 2400 UNITS ORDERING COST PER UNIT = RS.4.00/- UNIT PRICE = RS 2.40/- STORAGE COST = 2% P.A INTEREST RATE = 10 % P.A LEAD TIME = HALF MONTH CALCULATE ECONOMIC ORDER
L I M I T A T I O NS OF STANDARD COSTING 1. It may be very difficult to fix standards for all operations. 2. Incorrect standards may result in wastage of mo
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