As Bhimany et al. stated in 2008 "A budget is a quantitative expression of proposed plan of action by management for a future time period and is an aid to the coordination and implementation of the plan. It can cover both financial and non-financial aspects of these plans and acts as a blue-print for the company to follow in the forthcoming period". The budgeting system is a conventional way of handling and directing companies. Financial departments use the budgeting method to plan and organi...
Job AB was one of the jobs worked on during the period. Direct material costing £35,000 and direct labour hours (800 hours) costing £20,000 were incurred. I. Calculate the production overhead absorption rate predetermined for the period based on: Direct material cost Direct labour hours II. Calculate the production overhead cost to be charged to job AB based on the rates calculated in answer to I. above; III. Assume that the direct labour hour rate of absorption is used. Calculate the under- ...
Accounting principles is very important to prepare financial statements. According to Dopuch and Sunder (1980), accounting principles is important to increase employment of accountants, auditors, and teachers of accounting. It is because it can build a lot of career opportunities. Accounting principles can also help companies market their securities and investors. The most important thing is it can increase the wealth of the current owners of the companies. Every company needs it. To increase...
A world-renowned accounting firm PricewaterhouseCoopers, Ernst & Young, KPMG and Deloitte & Touche has a "digital corruption" a lot of irregularities in 2006. China also has burst Guangdong Kelon and other companies to conceal the truth, provide false audit report, which is the result of accounting firms do evil. University of Colorado Financial trial Meter Center, The Chairman said that the financial statements of fraud led to sharp stock price fall. This is a real disaster. The financial sc...
Abstract. Secret sharing scheme is a strategy for data protection. Secret sharing is a method of how to distribute and share secret information (text, picture or image) among a group of N participants, so that we can recover the secret only by pre-designated sub-collections of participants. In the traditional secret sharing schemes, shared secret information can be revealed only with complex cryptographic computations. Various schemes have been proposed. However the size of the shares and imp...
A Management Accounting Report On NEXT This report is meant to explain the importance of management accounting and its relevance to a business. It takes a look at the performance of s at the performance of the company of choice is NEXT and this report would assist in the management of the company in achieving long term and short term objectives. BACKGROUND Next is one of UK's leading retailers based in Enderby, Leicester that offers trendy and high quality clothing and accessories for men, wo...
The operations of Toyota have been impacted by tremendous developments in technology. Because of this, manufacturing operations within the company have significantly improved. For instance, vehicles and car parts are transported ahead of time, and this prevents large amounts of money from being utilized for storing activities (Fujimoto, 2001). The MIS of Toyota offers remedies for the organization concerning car and process structuring and planning for the smooth flow of operations. The MIS o...
International accounting standards, hereinafter IAS, have been issued by the IASC (International Accounting Standard Committee) since the 1973 until 2001. In 2001 the IASB settled in London (International accounting Standard Board) is composed by 14 members from nine different countries and in 2001 substituted the IASC. The IASB changed some already existing IASs and adopted new IFRS (International Financial Reporting Standards) to amend some already existing IASs and to covered topics uncove...
Borealis is a chemical industry company, which belongs to the leading producers of polyolefins. The company was founded in 1994 through a merger of the petrochemical divisions of two Scandinavian companies. Characteristic attributes of the petrochemical industry are the high technology dependency and therefore also a high importance of allocation of resources. Besides the petrochemical industry is a very cyclical business, e.g. the input prices are highly volatile. In the following sections w...
Purpose - This study attempts to examine the relationship between operations flexibility and hospital performance in Jordanian accreditation hospitals using the Structure Equation Modeling (SEM) approaches. Design/methodology/approach - This model starts with operations flexibility elements measurement scales consisting of two dimensional structures: external flexibility and internal robustness to measure operations flexibility elements in Jordanian hospitals. Hospital performance elements me...