Impact of Cost Accounting - 3133 Words

IMPACT OF COST ACCOUNTING ON FINANCIAL DECISION INTRODUCTION In the modern business world, the nature and functioning of business organizations have become very complicated. They have to serve the needs of variety of parties who are interested in the functioning of the business. These parties constitute the owners, creditors, employees, government agencies, tax authorities, prospective investors, and last but not the least the management of the business. The business has to serve the needs of these different category of people by way of supplying various information from time to time. In order to satisfy the needs of all these group of people a sound organisation of accounting system is very essential. In the ancient days the†¦show more content†¦(iv) It fails to take into account the impact of price level change : In the modern 4 Cost Accounting and Financial Management inflationary conditions the price level has significant impact over financial statement. Under financial accounts, assets are shown at the actual or historical cost. Consequently depreciation is also charged on actual or historical cost. This under charging of depreciation will distort the profit figure. (v) Possibility of manipulation of financial accounts : Very often financial accounts are manipulated at the whims and fancies of management so as to project better image in the minds of prospective investors. The chief forms of manipulating the financial accounts assume the form of over or undervaluation of inventory, excessive or inadequate provision for depreciation, creation of secret reserves, etc. (vi) It fails to exercise control over resources : Financial accounts fail to exercise control over materials, labour and other expenses incurred in a business enterprise. As a results, avoidable wastages and losses go unchecked under this system of accounts. (vii) It fails to provide adequate data for price fixation : Financial accounts fail to provide adequate cost data on the basis of which selling price is fixed. In the absence of fixation of prices in advance, it is not possible to supply quotations to the prospective customers. To thatShow MoreRelatedThe Role of Cost Accountants in Small Scale Manufacturing Industries in Nigeria1259 Words   |  6 Pagesproper accounting system employed by these industries (Akande, 2011). Manufacturers employ various system of accounting which requires a timely, relevant and accurate measure of cost, resources consumed in manufacturing their product and managerial decision making. Since the system of accounting used by industries is one of the key things that determine industrial growth and profitability, they must make use of a system of accounting which will enable them determine the volume of sales, cost of productRead MoreThe Impact Of Earned Value Analysis Of Managing Project Cost Control919 Words   |  4 PagesThe impact of Earned Value analysis in managing project cost control is undeniable. When EVM is implemented on a project, there are significant benefits to the project manager and the customer. Project manager benefits include increased visibility and control to proactively respond to issues that can impact project schedule, cost and objectives. Customer benefits include increase confidence in the PM’s ability to manage the project and track the p rogress of their project. Additionally, EVM providesRead MoreThe Impact of Contingencies on Management Accounting System Development.1725 Words   |  7 PagesManagement Accounting SYSTEM 1 3.0 THE IMPACT OF CONTINGENCIES ON MANAGEMENT ACCOUNTING SYSTEM DEVELOPMENT 2 ( i ) Environment 2 ( ii ) Strategies and mission 3 ( iii ) Technology 4 ( iv ) Firm interdependence 4 ( v ) Business unit, firm, and industry variables 5 ( vi ) Knowledge and observables factors 5 ( vii ) Culture 6 4.0 Summary and Conclusions 6 5.0 REFERENCE BOOKs 7 1.0 INTRODUCTION The management of a company needs to develop cost and management accounting systemsRead MoreAccounting Treatment Adopted By The Elements Of The Financial Statement Influences Accounting Information Produced Essay1669 Words   |  7 PagesExecutive Summary Accounting treatment adopted by the for elements in measuring the elements of the financial statement influences accounting information produced. The high quality information presented in the financial report should be able to represent characteristics of financial statements such as relevant and faithfulness representative, to reduce the information asymmetry. The appropriate method applied by a company would influence not only the external party but also management decisions regardingRead MoreThe Impact Of Fair Value Accounting On Real Estate Companies1497 Words   |  6 PagesTHE INFLUENCE OF FAIR VALUE ACCOUNTING ON REAL ESTATE COMPANIES : BASED ON HONG KONG LISTED COMPANIES (PROPOSAL) BY ZHANG MUDI DEBBIE 12250511 ACCOUNTING CONCENTRATION GAO JIAYI CINDY 12250295 ACCOUNTING CONCENTRATION An Honours Degree Project Submitted to the School of Business in Partial Fulfillment of the Graduation Requirement for the Degree of Bachelor of Business Administration (Honours) Hong Kong Baptist University Hong Kong January 2016 Table of Content Read MoreSustainability Accounting And Non Financial Reporting1052 Words   |  5 PagesAs a newly established area in accounting, sustainability accounting and reporting extends the traditional model of financial and non-financial reporting to incorporate the company’s operational information, social and environmental activities, and their ability to deal with related risks. Not only do these acts have effects on society and the environment, but they also directly impact company’s financial statements. The most widely accepted definition of sustainability that has emerged over timeRead MoreCost Systems936 Words   |  4 Pagessystems are part of the overall accounting system used by companies to measure sustainability performance and identify and account for expenditures accurately (Tatum, 2011). Three cost methods used as part of the decision-making process are Activity-based costing (ABC), Life-cycle costing (LCC), and Full cost accounting (FCA). The benefits and limitations of each in relation to sustainability efforts are examined. Analysis Comparison Traditional cost accounting methods were based on labor intensiveRead MoreRoles And Activities Of Management Accounting Essay1568 Words   |  7 PagesChanges in roles and activities of management accounting due to rapid changes in technology, can be described on following points: a. Changes in activities of data collection and control With advanced in technology, most companies are using accounting software or even Enterprise Resource Planning (â€Å"ERP†) system (such as SAP, Oracle, etc.) has the potential to have significant impact on the work of management accountants, as it reduces routine information gathering and the processing of informationRead MoreAccounting For Water Paper # 8924 Words   |  4 PagesAccounting for Water Paper #8 Fall 2015 1. Read The Tragedy of the Commons by Garrett Hardin at http://www.garretthardinsociety.org/articles/art_tragedy_of_the_commons.html. In plain English, what is â€Å"the Tragedy of the Commons?† Answer 1: Tragedy of the commons exposes the ignored truth that supply of resources is limited. Everyone has equal right on common resources and this freedom works if there are limits. Increase in demand by an additional unit will reduce supply by same and at certainRead MoreCompare And Contrast Positive Accounting Theory1117 Words   |  5 PagesWhat is accounting theory? A coherent interrelated goal and a basic principle of the system used as a class of explanations of the phenomena that are expected to lead to consistent standards. It includes positive and normative theories (Deegan Samkin, 2013, p. 76). Compare positive accounting theory (PAT) and Normative accounting theory. PAT is that because the company is fundamentally about a contract that determines its business, the core driver of the company s success is efficiency. So positive

John Brown an Extreme Abolitionist - 1452 Words

Jason Peterman History 128 12-7-10 Chris Carey John Brown: An Extreme Abolitionist John Brown’s beliefs about slavery and activities to destroy it hardly represented the mainstream of northern society in the years leading up to the Civil War. This rather unique man, however, took a leading role in propelling the nation toward secession and conflict. Many events influenced Brown’s views on slavery from an early age. When he was older, his strong anti-slavery feelings had grown, and he became an extreme abolitionist. His raid on Harpers Ferry was one of the first monumental events leading up to the civil war. When John Brown was young, he witnessed an attack on a young slave boy, who was beaten with a shovel. The boy died, and Brown†¦show more content†¦27). After he was captured, Brown was jailed. In most of his letters from jail, John Brown is attempting to comfort his family and friends and assure them that he has no regrets. He constantly mentions how happy he is, saying he fought for what he believed in. In a letter to E.B. of R.I., he s ays, â€Å"I do not feel conscious of guilt in taking up arms† (John Brown’s Raid on Harpers Ferry, pg. 91). Then, in a letter to Rev. H L Vaill, he says, â€Å"I am not as yet in the main at all disappointed. I have been a good deal disappointed as it regards myself in not keeping up to my own plans; but I now feel entirely reconciled to that even: for Gods plan, was Infinitely better† (John Brown’s Raid on Harpers Ferry, pg. 94). It is clear that Brown feels justified in his actions because he believes they were for the good of the country and enslaved people. Brown does not want his family and friends to feel bad for him, which is clear in the tone of his letters. His letters are upbeat, and he mentions how happy he is often. He is protective of his family’s feelings. In letters to others, he mentions his impending hanging, but when he writes to his wife, he calls death â€Å"my great change† (John Brown’s Raid on Harpers Ferry, pg . 98), as though death is honorable. Brown works hard in his letters to be sure that his family, especially his wife, cannot visit him. This may beShow MoreRelatedThe Battle Against Slavery During The 19th Century1342 Words   |  6 Pagesanti-slavery movement was John Brown’s raid on Harpers Ferry. John Brown was a white Abolitionist who lived during the time of debate over Kansas’ statehood. Brown had strong beliefs as a Christian and used these to drive his desires, and a movement, of freeing all slaves. In 1851, Brown started an anti-slavery group called the United States League of Gileadites, which consisted of Brown himself, his sons, escaped and free slaves, and other supporting white Abolitionists who chose to join him. (Earle)Read MoreEssay on Abolitionists997 Words   |  4 PagesAbolitionists Strategies of Sojourner Truth, Harriet Tubman, and John Brown Abolitionist Movement was a reform movement during the 18th and 19th centuries. Often called the antislavery movement, it sought to end the enslavement of Africans and people of African descent in Europe, the Americas, and Africa itself. It also aimed to end the Atlantic slave trade carried out in the Atlantic Ocean between Africa, Europe, and the Americas. Many people participated in trying to end slavery. TheseRead MoreJohn Brown : An American Abolitionist Essay1560 Words   |  7 PagesJohn Brown is an American Abolitionist who believed in abolishing slavery across the nation through killing any southern slaveholder or supporter that comes in his path. It is believed that he had a plan to gather all the free slaves and rebel against the southern states, but his rebellion never made it that far. His rebellion started in Kansas in 1855 and ended in December 1858 at Harpers Ferry leading to him being convicted and hung for his crimes. John Brown had one motive that made him do the seRead MoreJohn Brown: A Brief Biography627 Words   |  3 Pagesmovements have succeeded or failed in achieving their objectives. John Brown was an extreme abolitionist who believed in the forceful overthrow of the slave system. Although John Brown’s aim and views on slavery were rational, his approach at stopping slavery was illogical and deranged as his mentality contributed to his raid. John Brown and his sons headed attacks on pro-slavery residents during the Bleeding Kansas conflicts in which Brown became a hero for Northern activists and recruited an army ofRead MoreViolence And Its Effects On The United States Essay1216 Words   |  5 Pagespull between those who were pro-slavery Democrats, and those who were anti-slavery expansion Republicans. Emotions regarding the expansion of slavery yielded barbaric acts across the country including the canning of Charles Sumner, the hanging of John Brown, and the violence that construed in the Kansas territory. Each of the victims were white, were antislavery, and fell victim to the violence of a pro-slavery Democrat outraged by their actions. These acts of violence swayed many Democrats votersRead MoreUncovering the Truth About John Brown865 Words   |  4 PagesThroughout history John Brown has been described as a terrorist, mentally ill, and a failure among other things. Because he stood strongly for what he believed in, and his goal was eventually achieved he can be seen for the most part as a hero. Brown was described as â€Å"an American who gave his life that millions of other Americans be free† (Chowder,6). Brown was a headstrong abolitionist who claimed that he was told by God to end slavery causing him to see himself as â€Å"a latter-day Moses† (ChowderRead MoreAbraham Lincoln And A New Birth Of Freedom851 Words   |  4 Pagesresponse, three days later, an antislavery band led by John Brown retaliated in the Pottawatomie Massacre killing 5 settlers. John blown was a key figure for the north, and created the image of a violent and aggressive north in Southerner’s minds. In 1857, the Supreme Court ruled that slaves were not citizens and that owners could move slaves into the territories, in spite of Congress’s attempt to restrict this action. This enraged abolitionists and â€Å"free-soil† elements who had hoped to stop the expansionRead MoreUnited States Rights Vs. Federal Rights3721 Words   |  15 Pagesslave supports and abolitionists began to fight over their influence on the land. Due to the Kansas-Nebraska act, settlers were allowed to vote on the future of slavery through popular sovereignty. The northern politicians did not want the majority of states to be slave states and the southerners continued to fight for a slave state majority. The view on slavery reached different extremes on both ends of the United States. Northerners tended to sympathize toward the abolitionist movement, againstRead MoreThe Slavery Of The South Essay810 Words   |  4 Pagesand Madison. However, like many others, they were unable to solve the problem. In the early nineteenth century, individuals and groups began a movement for the abolition of slavery. The people behind this movement were called abolitionists. One of the leading abolitionists was William Lloyd Garrison. He began publishing a newspaper against slavery. His paper was called The Liberator because he wanted to free the slaves. In 1852, Harriet Beecher Stowe’s novel, Uncle Tom’s Cabin, appeared.TheRead MoreThe Manipulation of the Public by a Small Group of Southern Fanatics as the Cause of the Civil War1632 Words   |  7 Pages The American Civil War can be blamed on many reasons, one of which could be the strategy of the Southern extremist group, the ‘fire eaters’ they claimed that the Southern way of life was in danger of an abolitionist attack and was going to happen imminently. There were some very influential politicians from the South in this radical group, such as William Yancey and Louis Wigfall. Yancey sat in the US congress and over the years his belief in the

Abnormal Psychology Online Free Essays

Abnormal Psychology Online September 30, 2012 Case 15 – Autism Questions: 1. What are some behaviors that Adam demonstrated that eventually concerned his mother as she compared his behavior to other children at his birthday party and as she compared his development to his older brother? Adam did not produce words like the other toddlers at the party. The noises that Adam babbled were not directed to anyone or anything. We will write a custom essay sample on Abnormal Psychology Online or any similar topic only for you Order Now Adam did not label people or objects. 2. What is echolalia and pronominal reversal? Give examples. Echolalia is a mechanical repeating or echoing of a word or phrase that someone else has said. The person with autism will repeat the word with the same intonation as the person who said it originally, but will seem to lack understanding of what he/she is repeating. Sometimes the echoing will reoccur days after the original phrase was said; this is called delayed echolalia. Another peculiarity of language in people with autism is pronominal reversal. In pronominal reversal, the autistic person will often refer to him or herself as â€Å"you†. For example, when asking for water, he/she might say: â€Å"Do you want some water? † Naturally, this is the way they are asked what they want, and they then identify themselves as â€Å"you†, not â€Å"I†. . What are the 5 main symptoms that are hallmarks of an autistic disorder? The five symptoms of autism are severed receptive and expressive language skills, nonverbal communication skills, lack of imaginative play with toys, social perceptual difficulties, and repeated of ridged behaviors. 4. What is the pre ferred therapeutic intervention in working with children with autism? Early intervention is the preferred method in working with children with autism. 5. What treatments were included in Adam’s treatment plan? Three hours of behavior therapy each week. 6. How did Adam’s disorder affect the family structure? Give examples. Adam was getting a lot of attention and his older brother started to resent Adam. Adam parents spent most of their time helping Adam with his therapies. 7. The Autism Society of America site http://www. autism-society. org/ and the National Institute of Mental Health site http://www. nimh. nih. gov/publicat/autism. cfm both give more information regarding autism. How does this relate to Adam and his family? These websites gave more information on what are the signs of autism and the different types of autism. How to cite Abnormal Psychology Online, Essay examples