Assignment on Accounting
Accounting forms the backbone of all business operations and refers to the analysis and reporting of all financial transactions. Despite being a speciality subject, the field makes use of concepts from other domains as well. Writing a good accounting assignment is therefore a difficult task which requires stringent research. In order to meet these research needs, Researchomatic has provided a section dedicated to accounting assignments.
Financial Management And Control
FINANCIAL MANAGEMENT AND CONTROL Financial Management and Control Financial Management and Control Question 1 Gross Profit and Closing Stock Valuations FIFO LIFO Average Costing Units Cost per Unit Total Cost Units Cost per Unit Total Cost Units Cost per Unit Total Cost 1st Jan 200 4 800 200 4 800 200 4 800 1st Feb 250 5 1250 250 5 1250 250 5 1250 1st May 225 6 1350 225 6 1350 225 6 1350 1stMarch 250 3.5 875 250 3.5 875 250 3.5 875 1st April 175 4 700 175 4 700 175 4 700 1st June 200 5.5 1100 200 5.5 1100 200 5.5 1100 1st July -200 4 800 -200 5.5 1100 -700 4.67 3266.67 -250 5 1250 -175 4 700 -225 6 1350 -250 3.5 875 -25 3.5 87.5 -75 6 450 TOTAL 600 3487.5 600 3125 600 3266.67 FIFO LIFO AVCO Sales 5600 5600 5600 Less: Cost of Sales Purchases 6075 6075 6075 Less: Closing Stock -2587.5 -3487.5 -2950 -3125 -2808.33 -3266.67 Gross Profit 2112.5 2475 2333.33 Discussion of three methods LIFO Last in first out is ...- 2271 Words
- 10 Pages
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Accounting Analysis
ACCOUNTING ANALYSIS Accounting Analysis Accounting - Analysis Answer of question 1 Material handling departments budget payroll 180000 employee on costs 36000 telephone 38000 other utilities 22000 material and supplies 6000 depreciation 6000 Total 288000 Direct material budget Government contracts 2006000 commercial products 874000 Total 2880000 Material handling rate that would have been used by smith is = Total material handling department budget / Total direct material budget = ...- 1026 Words
- 4 Pages
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Accounting
Accounting Accounting LIFO vs. FIFO LIFO Method The abbreviation LIFO stands for "last in first out", meaning that the consumer goods that have been bought as a last resort, to be used as the first again. It is like a grain mountain that is needed for the harvest. The wheat was harvested first is ...- 604 Words
- 2 Pages
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Finance
FINANCE Financial Analysis Financial Analysis Introduction This paper provides a financial analysis of three companies, namely Tesco Plc, Morrison Supermarkets and Sainsbury. The major focus of this paper is on the ratio analysis of the given companies. Past 5 years performance is analyzed in depth. Discussion Tesco PLC Tesco is considered to be the top grocery ...- 1771 Words
- 7 Pages
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East Coast Marine Limited
East Coast Marine Limited East Coast Marine Limited Introduction The accounting concept name “Activity Base Costing” is pretty much defined by its name. Basically, it is a costing system based on activity. It is a system in which costs and staff timing are produced by breaking down every activity into its component ...- 2064 Words
- 9 Pages
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Finance Queries
Finance Queries Finance Queries In Operating Lease, the lesser transfers the right of usage of the property and not the ownership. After the lease ends the lessee returns the required property to the lesser. As the lessee don't take the risk of the ownership, the expense of lease is treated ...- 665 Words
- 2 Pages
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Financial Analysis
Financial Analysis Financial Analysis Problem 1 Explain why the company may classify this as an extra ordinary charge. In accounting, extra ordinary charges are those that are unforeseen and infrequent. They are accounted in a separate heading, so they do not make any distortion in the firm's expected income. Thus, they are recorded ...- 611 Words
- 2 Pages
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Financial Accounting And Reporting
FINANCIAL ACCOUNTING AND REPORTING Financial Accounting and Reporting Financial Accounting and Reporting Answer One Since the financial turmoil has passed on, there has been a series of criticism regarding the accounting standards. These accounting standards are causing a great problem to the economies of several countries. The first controversy, which is related ...- 868 Words
- 3 Pages
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Intermediate Accounting
Intermediate Accounting Intermediate Accounting The following answers are related to the accounting standards designed by the International authorities which all the entities either public sector or private sector need to follow in order to represent the financial information through the financial statements. The accounting standards discussed below is GAAP, IASB and FASB. ...- 1151 Words
- 5 Pages
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Activity Based Costing
Activity Based Costing Activity based costing (ABC) is a costing model that aims to allocate costs to products and services more accurately. This model attempts to allocate costs depending on the actual activities that cause overheads to be incurred. Traditional models used simplistic approaches such as, use of machine hours, to ...- 1874 Words
- 8 Pages
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