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In the context of asset impairments, what is the limit below which an asset should not be impaired?
In the context of asset impairments, no asset should be impaired to an amount lower than its recoverable amount
The three ‘E’s’ are:
ROI = profit / capital invested
The interest cover = profit before interest and tax / interest
The operating statement shows why the actual profit differs from the budgeted profit.
Bottom-up budgeting is where lower level managers are involved in the budget process – they prepare budgets for their departments which are then checked and co-ordinated by higher level management.
Capital expenditure is the acquisition of non-current assets (which appear on the Statement of Financial Position)
Revenue expenditure is the payment of running expenses (which appear on the Income Statement)
If there is perfect negative correlation, then r will equal -1.
It means that 75% of the changes in y are explained by changes in x.
An abnormal loss is the excess of the actual loss over the normal (or expected) loss.
Good information should be:
Each item in the population has an equal chance of being selected.
The prime cost is the total of the direct costs of a unit.
A stepped fixed cost is one that is fixed in total within a certain level of activity, but where once an upper limit of activity is reached then a new higher level of fixed cost occurs.
A purchase requisition form is prepared by the department that requires the material and is sent to the purchasing department.
Co represents the cost of placing one order.
Direct labour costs are directly involved in the making of products – the basic pay plus overtime premium on specific jobs
Indirect labour costs are all other labour costs – general overtime premiums, bonus payments, and the cost of indirect workers (e.g. canteen, maintenance)
n is the number of pairs of observations
Prevention costs (the costs of improving the quality of the production process)
Appraisal costs (the costs of quality control checks)
Internal failure costs (the costs of re-working; the costs of rejects)
External failure costs ( the costs of delivering poor quality to the customer – e.g. replacements, repair work)
‘Get it right first time’ – i.e. good quality production – no re-working, no rejects
The target cost is the maximum cost we can allow in order to achieve the target level of profitability based on a pre-determined selling price.
A cost driver is whatever activity is causing the cost to occur.
Are all the Chapters mixed in all the set or is it chapter-wised?
External failure costs are costs of delivering poor quality to the ______? I am not able to view the full answer! Please help!
It is very good like passcards very interesting.Keep it up good appraoch
flash cards are a great deal of revision especially when you are preparing for the final exam on a short space of tym
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