Tài liệu Khối Ngành Kinh Tế

The success of a budget program depends on three important factors: Top management must be enthusiastic and  committed to the budget process. Top management must not use the budget to pressure employees or blame them when  something goes wrong. Highly achievable budget targets are usually  preferred when managers are rewarded based on  mee...

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Names and dates Instructions for descriptions and counts Noting obsolete or worn items Tag control—compilation of counts Shutting down production Controlling inventory movement including shipping and receiving Supervisory approval Making changes and corrections

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At Breakers, five pounds of material are required per unit of product. Management wants materials on hand at the end of each month equal to 10% of the following month’s production. On March 31, 13,000 pounds of material are on hand. Material cost $.40 per pound. Let’s prepare the direct materials budget.

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Cash flows from Operating activities must be presented using the direct method Four Parts (described on next slide) Reconciliation of Operating income to cash flows from operations May also have noncash financing and investing section

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DEPRECIATION EXPENSE Recalculate using USEFUL LIFE, SALVAGE VALUE, COST, and METHOD Evaluate REASONABLENESS of USEFUL LIFE, SALVAGE VALUE, etc. Is depreciation consistent with COMPANY POLICY (half year conventions)? LEASE AGREEMENTS Verify proper treatment (Capitalized or Operating) Ensure disclosure in footnotes is appropriate

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CVP includes all fixed costs to compute breakeven. Variable costing and CVP are consistent as both treat fixed costs as a lump sum. Absorption costing defers fixed costs into inventory. Absorption costing is inconsistent with CVP because absorption costing treats fixed costs on a per unit basis.

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Customer Orders - assigned all costs of resources that are consumed by taking and processing customer orders. Design Changes - assigned all costs of resources consumed by customer requested design changes. Order Size - assigned all costs of resources consumed as a consequence of the number of units produced. Customer Relations – assigned all cos...

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1. Add Internal Service Fund’s Assets and Liabilities to the Governmental Activities section of the Government-wide Statement of Net Position 2. Income of the Internal Service Fund with entities external to the governmental activities should be brought into the Statement of Activities. Most commonly this is interest expense or investment income. ...

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There are three sets of circumstances that could justify the omission of the confirmation of a client's accounts receivable. Not material to the financial statements. If the RISK OF MATERIAL MISSTATEMENT is low, and the assessed level of evidence from analytical procedures and other tests of details is sufficient to reduce audit risk to an accept...

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Safety Margin The difference between budgeted sales revenue and break-even sales revenue. The amount by which sales can drop before losses begin to be incurred.

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