Production Rate :- 420 units/day Estimated contribution :- Rs 30 per unit No of workers employed :- 7 Hourly regular wage :- Rs 30 per hour Activity Activity Time (Seconds) Immediate Predecessor 1 30 None 2 50 None 3 40 1 4 50 1 5 20 2 6 10 3 7 10 4‚5 8 20 2 9 10 6 10 40 9 11 20 7 12 30 7 13 50 9 14 50 10 15 10 11 16 40 8‚12 Total Lead time (Sum of all activity Time) = 480 working day has 8 working hours (with rest period) gives 7 hrs working time Cycle Time for 315 units = 420 (min) /315 units
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C38FA-Financial Accounting | November 26 2012 | Topic- Conceptual Framework Name: Kashish Jashnani HW ID: H00114889 Conceptual Framework Introduction Conceptual framework is defined as the “a coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribes the nature‚ function‚ and limits of financial accounting and financial statements.” [wiley.com‚ 2002]. The conceptual framework is needed in the accounting body
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frequent flyer miles could displace a fare-paying passenger. The Incremental Cost Method does not account for the opportunity cost (i.e. the cash revenue foregone) associated with such a displacement. The U.S. Financial Accounting Standards Board (FASB) considered‚ but never reached authoritative guidance on‚ how to account for airline frequent flyer programs. In contrast‚ airlines reporting under IFRS have been
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Abstract GAAP requires company to disclose accounting policy in their financial reports. These policies provide relevant information to decision makers on choices taken by executives. Financial statements are the final product of accounting process. Income statement provides data for investment and other decisions. The net income is essentially the common income statement form‚ consisting of classifications such as income from continuing operations‚ discontinued operations‚ extraordinary items
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GAAP v. non-GAAP: Impacts on Financial Statements A non-GAAP financial measure is a numerical measure of past or future financial performance‚ financial position or cash flows that includes amounts that are excluded from the most directly comparable GAAP measure or excludes amounts that are included in the most directly comparable GAAP measure. Some common examples of non-GAAP earnings measures are cash earnings‚ operating earnings‚ EBITDA and FFO. The non-GAAP numbers impact revenue numbers without
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Ian Dennis Business School Oxford Brookes University Abstract The paper examines the nature and role of a conceptual framework for financial reporting. Although much has been written about such frameworks and their purported role and the FASB and IASB are currently revising and converging their frameworks there are still questions about the kind of thing it is and how it is used in setting accounting standards. Using insights from the philosophical literature this paper considers the nature
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Introduction There have been proposals that have been working on with regard to the replacement of GAAP (Generally Accepted Accounting Principles) with IFRS (International Financial Reporting Standards) as used in the accounting and financial reporting aspects. Such convergence requires that the functions of the GAAP standards be added to the IFRS. The International Accounting Standards Board (IASB) developed the IFRS which is a less-detailed financial reporting system. This paper seeks to analyze
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Financial Statement Analysis A financial statement analysis will be presented for Microsoft Corporation. “Microsoft Corporation is engaged in developing‚ manufacturing‚ licensing and supporting a range of software products and services for different types of computing devices†(MSN.com‚ 2010). This corporation trades publicly (NASDAQ: MSFT) and does business in Puerto Rico with offices in Guaynabo‚ PR (services) and Humacao‚ PR (manufacturing and services). To measure their progress
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years is greater than 10 million dollars and if the employees are still employed with the company. Sooner or Later’s management believes that the company will have revenues in excess of 10 million dollars over the next three year period. According to FASB‚ Statement no. 123(R) A Corporation must use the fair value method to account for compensatory share option plans. Sooner or Later has two options: they can either use the grant date fair value of $9.00 or they can use the grant
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decision rather than the footnote disclosure was inferior to recognition on balance sheets. Although the results of this paper are concerned with the capitalization of finance leases‚ they have sume implication for “Leases: Preliminaly Views” released by FASB and IASB. It is not necessary to extend the range of recognition of uncertain assets and liabilities because the footnote infromation is not infrior to the recognized information. * This work was supported by Grant-in-Aid for Young Scientists (B)
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