1. The document discusses inventory control and costing methods. Two primary objectives of inventory control are safeguarding inventory and reporting inventory in financial statements.
2. Three inventory cost flow assumptions - FIFO, LIFO, and weighted average - are described. These assumptions impact income statements and balance sheets differently.
3. Methods for determining inventory costs under perpetual and periodic inventory systems using FIFO, LIFO, and weighted average are presented and illustrated with examples.
1) Current liabilities include accounts payable, the current portion of long-term debt due within one year, and short-term notes payable.
2) Payroll liabilities include wages and salaries owed to employees, as well as payroll tax liabilities such as Social Security, Medicare, unemployment taxes that are withheld from employee paychecks.
3) Payroll accounting systems use a payroll register to record employee earnings and deductions, employee earnings records to track individual pay, and journal entries to record payroll expenses and related tax liabilities.
This document discusses accounting for fixed assets. It defines fixed assets as long-term tangible assets used in operations, such as equipment, buildings, and land improvements. It explains how to classify costs of acquiring fixed assets as capital expenditures or revenue expenditures. It also describes various depreciation methods including straight-line, units-of-production, and double-declining balance and compares their application. The document provides examples to illustrate computing depreciation expense under each method.
Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand.
Perpetual and periodic inventory method – inventories perpetual inventory methodTutors On Net
The perpetual inventory method involves continuously updating inventory records on a daily basis for additions and subtractions from inventory. This method is suited for businesses with high-value, frequently sold items. The periodic inventory method only involves physically counting inventory at set intervals, usually at the end of an accounting period. This method is more expensive and time-consuming. Under the periodic method, the cost of goods sold is determined by opening inventory, purchases, and closing inventory.
This short document promotes the creation of presentations using Haiku Deck on SlideShare. It contains photos from three photographers and a call to action encouraging the reader to get started creating their own Haiku Deck presentation.
1) The accounting equation shows that a company's assets are always equal to its liabilities plus equity.
2) Double entry accounting requires every transaction to have equal debits and credits so the accounting equation remains balanced.
3) Examples of transactions that affect the accounting equation include purchasing inventory, receiving payment from customers, and paying expenses.
The document defines the different elements of cost, including direct and indirect materials, labor, and expenses. Direct costs can be traced to a specific product or service, while indirect costs cannot. Prime cost refers to the direct costs of materials, labor, and expenses. Overheads are the indirect costs, including indirect materials, labor, and expenses. Overheads are allocated to products and services. The document also defines different types of overheads, such as factory overhead, office and administration overhead, and selling and distribution overhead.
1. The document discusses stockholders' equity, the different types of stock (common and preferred), and accounting entries related to issuing stock, cash dividends, and stock dividends.
2. It describes key characteristics of corporations including separate legal status, transferable ownership shares, and limited liability for stockholders. Common stockholders have rights to voting and distributions, while preferred stockholders have dividend preference.
3. The document provides examples of accounting entries for issuing stock at par value and at a premium or discount to par, and for declaring and paying cash and stock dividends.
1) Current liabilities include accounts payable, the current portion of long-term debt due within one year, and short-term notes payable.
2) Payroll liabilities include wages and salaries owed to employees, as well as payroll tax liabilities such as Social Security, Medicare, unemployment taxes that are withheld from employee paychecks.
3) Payroll accounting systems use a payroll register to record employee earnings and deductions, employee earnings records to track individual pay, and journal entries to record payroll expenses and related tax liabilities.
This document discusses accounting for fixed assets. It defines fixed assets as long-term tangible assets used in operations, such as equipment, buildings, and land improvements. It explains how to classify costs of acquiring fixed assets as capital expenditures or revenue expenditures. It also describes various depreciation methods including straight-line, units-of-production, and double-declining balance and compares their application. The document provides examples to illustrate computing depreciation expense under each method.
Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand.
Perpetual and periodic inventory method – inventories perpetual inventory methodTutors On Net
The perpetual inventory method involves continuously updating inventory records on a daily basis for additions and subtractions from inventory. This method is suited for businesses with high-value, frequently sold items. The periodic inventory method only involves physically counting inventory at set intervals, usually at the end of an accounting period. This method is more expensive and time-consuming. Under the periodic method, the cost of goods sold is determined by opening inventory, purchases, and closing inventory.
This short document promotes the creation of presentations using Haiku Deck on SlideShare. It contains photos from three photographers and a call to action encouraging the reader to get started creating their own Haiku Deck presentation.
1) The accounting equation shows that a company's assets are always equal to its liabilities plus equity.
2) Double entry accounting requires every transaction to have equal debits and credits so the accounting equation remains balanced.
3) Examples of transactions that affect the accounting equation include purchasing inventory, receiving payment from customers, and paying expenses.
The document defines the different elements of cost, including direct and indirect materials, labor, and expenses. Direct costs can be traced to a specific product or service, while indirect costs cannot. Prime cost refers to the direct costs of materials, labor, and expenses. Overheads are the indirect costs, including indirect materials, labor, and expenses. Overheads are allocated to products and services. The document also defines different types of overheads, such as factory overhead, office and administration overhead, and selling and distribution overhead.
1. The document discusses stockholders' equity, the different types of stock (common and preferred), and accounting entries related to issuing stock, cash dividends, and stock dividends.
2. It describes key characteristics of corporations including separate legal status, transferable ownership shares, and limited liability for stockholders. Common stockholders have rights to voting and distributions, while preferred stockholders have dividend preference.
3. The document provides examples of accounting entries for issuing stock at par value and at a premium or discount to par, and for declaring and paying cash and stock dividends.
The document discusses the statement of cash flows and how to prepare one using the indirect method. It provides the following key points:
1. The statement of cash flows reports a company's cash inflows and outflows from operating, investing, and financing activities. It shows a company's ability to generate cash.
2. Under the indirect method, net income is adjusted for non-cash revenues/expenses to calculate cash flows from operating activities. Expenses like depreciation are added back and gains/losses from asset sales are removed.
3. Changes in current operating assets and liabilities are also considered, with increases in assets subtracted and increases in liabilities added to net income.
The document discusses different types of securities markets including primary markets for initial public offerings, secondary markets for trading existing securities, and organized exchanges. It describes the initial public offering process and roles of investment banks in underwriting new issues. Different market structures are examined, including the New York Stock Exchange, Nasdaq, and over-the-counter markets. Basic securities transactions such as long purchases, margin trading, and short selling are also outlined.
1) The chapter discusses portfolio risk and return, and how diversification can reduce risk without lowering expected returns. It also covers calculating expected portfolio returns and standard deviation.
2) The Capital Asset Pricing Model (CAPM) measures systematic risk using beta coefficients. Systematic risk cannot be diversified away, whereas unsystematic risk can be through diversification.
3) CAPM predicts that investors will require a higher expected return for investments with higher betas or systematic risk. This relationship is depicted by the security market line.
Revenue management focuses on setting prices for products to maximize profit. It involves understanding customer demand and manipulating timing, targeting, and inventory allocation across market segments. Key aspects of revenue management include forecasting demand, using peak and off-peak pricing, and allocating limited inventory among price levels. Revenue management is used widely in industries like airlines, hotels, rental cars, and media to optimize revenue from perishable assets by adjusting prices based on demand, time until use, and unsold inventory.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This document discusses inventory valuation and various methods for pricing material issues. It describes the objectives of inventory valuation as ascertaining purchase price, calculating cost of goods issued, and arriving at closing inventory value for financial statements. Various cost price methods are outlined including FIFO, LIFO, specific price, and base stock. Average price methods like simple average, weighted average, and moving averages are also covered. The document concludes with descriptions of notional price methods such as standard price, inflated price, and replacement price.
This document discusses completing the accounting cycle. It describes the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements. The document explains how to prepare financial statements, including the income statement, statement of owner's equity, and balance sheet, directly from the adjusted account balances on the end-of-period spreadsheet. It also covers preparing closing entries and classifying the balance sheet with current assets, fixed assets, current liabilities, and long-term liabilities sections.
This document discusses inventory costing methods. It describes three inventory cost flow assumptions: specific identification, first-in first-out (FIFO), and last-in first-out (LIFO). These assumptions impact the income statement and balance sheet by determining the cost of goods sold and ending inventory valuation. The document provides examples of calculating inventory costs under the perpetual inventory system using FIFO, LIFO, and weighted average methods. It also discusses calculating inventory costs under the periodic inventory system using these methods.
The document discusses the demutualization of stock exchanges, which is the process of converting nonprofit member-owned exchanges into for-profit investor-owned corporations. Reasons for demutualization include globalization and information technology. Benefits include rationalized governance, investor participation, and access to capital investment. Challenges include potential conflicts of interest between ownership and management and developing a new regulatory framework. The demutualization process involves changing the ownership structure and legal framework. Many major stock exchanges have demutualized, including those in Sweden, Finland, Denmark, Netherlands, Australia, Canada, UK and Hong Kong. The document also provides details on Pakistan's demutualization process and recommendations.
This document provides an overview of common stock and differences between debt and equity financing. It discusses key differences such as creditors having legal right to repayment while investors only have expectation, equityholders having last claim on assets in bankruptcy. Common stockholders are residual owners who receive dividends and capital gains. Preemptive rights protect common stockholders from dilution from new share issuances. Voting rights, dividends and international stock issues are also summarized.
The document discusses the valuation of inventories under accounting standards. It covers the meaning and significance of inventories, principles of valuation including cost formulas, techniques for measurement of cost, and disclosure requirements regarding inventory valuation policies and amounts. The key principles are that inventories must be valued at the lower of cost or net realizable value, and costs included in inventory valuation comprise costs of purchase, costs of conversion, and other costs to bring inventories to their present location and condition.
Supply Chain Management, Sourcing Pricing and Procurement Process ,
Presentations By Rajendran Ananda Krishnan, https://www.facebook.com/ialwaysthinkprettythings
The document discusses supply chain risk management and minimizing risk exposure. It outlines various risks in the supply chain from external factors like the environment and demand as well as internal factors like processes and governance. It emphasizes the need for a risk framework that includes strategy, execution, and continuous improvement. Key aspects of risk management include risk planning, managing suppliers and inventory, and having the right competencies and performance metrics.
This document discusses inventory costing methods and inventory valuation. It begins by describing the importance of inventory control and three common inventory cost flow assumptions: FIFO, LIFO, and weighted average. It then demonstrates how to calculate inventory costs and valuation under perpetual and periodic inventory systems using the three methods. The document compares the inventory costing methods and their impact on financial statements. It concludes by discussing inventory reporting on the balance sheet and potential causes of inventory errors.
This document discusses inventory accounting, including classifying inventory, determining inventory quantities, inventory costing methods, the lower-of-cost-or-market principle, and analyzing inventory using turnover. It describes raw materials, work-in-process, and finished goods inventory classifications. FIFO, LIFO, weighted average, and retail cost flow assumptions are explained. The effects of inventory errors on financial statements are also summarized.
This document provides an overview of inventory accounting, including key concepts such as inventory cost flow assumptions, inventory costing methods, and controls over inventory. It describes the objectives of inventory control as safeguarding inventory and proper financial reporting. The three main inventory cost flow assumptions - FIFO, LIFO, and weighted average - are explained in detail along with their impacts on the income statement and balance sheet. The document also compares and contrasts the perpetual and periodic inventory systems and demonstrates calculations using each costing method.
The document discusses accounting for merchandising businesses. It describes how merchandising businesses recognize revenue from sales and the cost of goods sold, which results in gross profit. It then explains how various merchandise transactions are recorded, including purchases, sales, returns, and discounts. Specific examples are provided to illustrate accounting entries for these different types of transactions. The financial statements of a merchandising business are discussed, along with key accounting concepts like perpetual inventory.
The document discusses internal controls over cash, including controls over cash receipts and payments. It describes how businesses use bank accounts to help control cash. A key control is the bank reconciliation, which is an analysis of the differences between the bank statement balance and the company's cash records. It involves adjusting the bank balance for items like deposits in transit and outstanding checks to calculate the adjusted cash balance. Preparing regular bank reconciliations helps ensure accurate recording of cash transactions.
The document describes the flow of accounting information from transactions through the accounting cycle and financial statements. It discusses how the unadjusted trial balance is adjusted, then used to prepare the income statement, retained earnings statement, and balance sheet. Closing entries are made to zero out temporary accounts before preparing the post-closing trial balance.
The document discusses the statement of cash flows and how to prepare one using the indirect method. It provides the following key points:
1. The statement of cash flows reports a company's cash inflows and outflows from operating, investing, and financing activities. It shows a company's ability to generate cash.
2. Under the indirect method, net income is adjusted for non-cash revenues/expenses to calculate cash flows from operating activities. Expenses like depreciation are added back and gains/losses from asset sales are removed.
3. Changes in current operating assets and liabilities are also considered, with increases in assets subtracted and increases in liabilities added to net income.
The document discusses different types of securities markets including primary markets for initial public offerings, secondary markets for trading existing securities, and organized exchanges. It describes the initial public offering process and roles of investment banks in underwriting new issues. Different market structures are examined, including the New York Stock Exchange, Nasdaq, and over-the-counter markets. Basic securities transactions such as long purchases, margin trading, and short selling are also outlined.
1) The chapter discusses portfolio risk and return, and how diversification can reduce risk without lowering expected returns. It also covers calculating expected portfolio returns and standard deviation.
2) The Capital Asset Pricing Model (CAPM) measures systematic risk using beta coefficients. Systematic risk cannot be diversified away, whereas unsystematic risk can be through diversification.
3) CAPM predicts that investors will require a higher expected return for investments with higher betas or systematic risk. This relationship is depicted by the security market line.
Revenue management focuses on setting prices for products to maximize profit. It involves understanding customer demand and manipulating timing, targeting, and inventory allocation across market segments. Key aspects of revenue management include forecasting demand, using peak and off-peak pricing, and allocating limited inventory among price levels. Revenue management is used widely in industries like airlines, hotels, rental cars, and media to optimize revenue from perishable assets by adjusting prices based on demand, time until use, and unsold inventory.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This document discusses inventory valuation and various methods for pricing material issues. It describes the objectives of inventory valuation as ascertaining purchase price, calculating cost of goods issued, and arriving at closing inventory value for financial statements. Various cost price methods are outlined including FIFO, LIFO, specific price, and base stock. Average price methods like simple average, weighted average, and moving averages are also covered. The document concludes with descriptions of notional price methods such as standard price, inflated price, and replacement price.
This document discusses completing the accounting cycle. It describes the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements. The document explains how to prepare financial statements, including the income statement, statement of owner's equity, and balance sheet, directly from the adjusted account balances on the end-of-period spreadsheet. It also covers preparing closing entries and classifying the balance sheet with current assets, fixed assets, current liabilities, and long-term liabilities sections.
This document discusses inventory costing methods. It describes three inventory cost flow assumptions: specific identification, first-in first-out (FIFO), and last-in first-out (LIFO). These assumptions impact the income statement and balance sheet by determining the cost of goods sold and ending inventory valuation. The document provides examples of calculating inventory costs under the perpetual inventory system using FIFO, LIFO, and weighted average methods. It also discusses calculating inventory costs under the periodic inventory system using these methods.
The document discusses the demutualization of stock exchanges, which is the process of converting nonprofit member-owned exchanges into for-profit investor-owned corporations. Reasons for demutualization include globalization and information technology. Benefits include rationalized governance, investor participation, and access to capital investment. Challenges include potential conflicts of interest between ownership and management and developing a new regulatory framework. The demutualization process involves changing the ownership structure and legal framework. Many major stock exchanges have demutualized, including those in Sweden, Finland, Denmark, Netherlands, Australia, Canada, UK and Hong Kong. The document also provides details on Pakistan's demutualization process and recommendations.
This document provides an overview of common stock and differences between debt and equity financing. It discusses key differences such as creditors having legal right to repayment while investors only have expectation, equityholders having last claim on assets in bankruptcy. Common stockholders are residual owners who receive dividends and capital gains. Preemptive rights protect common stockholders from dilution from new share issuances. Voting rights, dividends and international stock issues are also summarized.
The document discusses the valuation of inventories under accounting standards. It covers the meaning and significance of inventories, principles of valuation including cost formulas, techniques for measurement of cost, and disclosure requirements regarding inventory valuation policies and amounts. The key principles are that inventories must be valued at the lower of cost or net realizable value, and costs included in inventory valuation comprise costs of purchase, costs of conversion, and other costs to bring inventories to their present location and condition.
Supply Chain Management, Sourcing Pricing and Procurement Process ,
Presentations By Rajendran Ananda Krishnan, https://www.facebook.com/ialwaysthinkprettythings
The document discusses supply chain risk management and minimizing risk exposure. It outlines various risks in the supply chain from external factors like the environment and demand as well as internal factors like processes and governance. It emphasizes the need for a risk framework that includes strategy, execution, and continuous improvement. Key aspects of risk management include risk planning, managing suppliers and inventory, and having the right competencies and performance metrics.
This document discusses inventory costing methods and inventory valuation. It begins by describing the importance of inventory control and three common inventory cost flow assumptions: FIFO, LIFO, and weighted average. It then demonstrates how to calculate inventory costs and valuation under perpetual and periodic inventory systems using the three methods. The document compares the inventory costing methods and their impact on financial statements. It concludes by discussing inventory reporting on the balance sheet and potential causes of inventory errors.
This document discusses inventory accounting, including classifying inventory, determining inventory quantities, inventory costing methods, the lower-of-cost-or-market principle, and analyzing inventory using turnover. It describes raw materials, work-in-process, and finished goods inventory classifications. FIFO, LIFO, weighted average, and retail cost flow assumptions are explained. The effects of inventory errors on financial statements are also summarized.
This document provides an overview of inventory accounting, including key concepts such as inventory cost flow assumptions, inventory costing methods, and controls over inventory. It describes the objectives of inventory control as safeguarding inventory and proper financial reporting. The three main inventory cost flow assumptions - FIFO, LIFO, and weighted average - are explained in detail along with their impacts on the income statement and balance sheet. The document also compares and contrasts the perpetual and periodic inventory systems and demonstrates calculations using each costing method.
The document discusses accounting for merchandising businesses. It describes how merchandising businesses recognize revenue from sales and the cost of goods sold, which results in gross profit. It then explains how various merchandise transactions are recorded, including purchases, sales, returns, and discounts. Specific examples are provided to illustrate accounting entries for these different types of transactions. The financial statements of a merchandising business are discussed, along with key accounting concepts like perpetual inventory.
The document discusses internal controls over cash, including controls over cash receipts and payments. It describes how businesses use bank accounts to help control cash. A key control is the bank reconciliation, which is an analysis of the differences between the bank statement balance and the company's cash records. It involves adjusting the bank balance for items like deposits in transit and outstanding checks to calculate the adjusted cash balance. Preparing regular bank reconciliations helps ensure accurate recording of cash transactions.
The document describes the flow of accounting information from transactions through the accounting cycle and financial statements. It discusses how the unadjusted trial balance is adjusted, then used to prepare the income statement, retained earnings statement, and balance sheet. Closing entries are made to zero out temporary accounts before preparing the post-closing trial balance.
The document describes the flow of accounting information from transactions through the accounting cycle and financial statements. It discusses how the unadjusted trial balance is adjusted, then used to prepare the adjusted trial balance, income statement, retained earnings statement, and balance sheet. Closing entries are made to zero out temporary accounts before preparing the post-closing trial balance.
This document discusses perpetual inventory systems. It defines inventory and perpetual inventory systems, which continuously update inventory information as business is conducted. It outlines the advantages as not requiring inventory counts that close business and providing continuous updates. Disadvantages are increased costs for varied goods. Key functions are continuously recording receipts, issues, and stock to determine quantities and values without counting. Periodic systems only provide updates after scheduled inventories, while perpetual systems track inventory amounts throughout the period.
The document outlines accounting concepts including accounts, the chart of accounts, journal entries, and posting journal entries to accounts. It provides examples of various business transactions and their impact on the accounting equation. Learning objectives are described to understand accounts and the double-entry accounting system, as well as journalizing, posting transactions, and using horizontal analysis to evaluate performance.
The document discusses key accounting concepts like journal entries, T-accounts, debits and credits, and the double-entry accounting system. It provides examples of transactions to illustrate how the accounting equation is impacted and how to journalize entries. Specifically, it shows a transaction where an owner invested cash in a business, the purchase of land, a purchase on account, and cash received from customers. The goal is to teach how to record business transactions using debits, credits and journal entries.
The document discusses the adjusting process in accounting. It describes how adjusting entries are needed at the end of an accounting period to update accounts for expenses that have been incurred but not recorded, revenues that have been earned but not recorded, and other items like prepaid expenses and unearned revenues. It provides examples of different types of adjusting entries needed for accounts like prepaid expenses, unearned revenues, accrued revenues, accrued expenses, and depreciation expense. The overall purpose of the adjusting process and adjusting entries is to ensure revenues and expenses are reported in the proper accounting period in accordance with accrual basis accounting.
The document discusses the adjusting process in accounting. It explains that under the accrual basis of accounting, some account balances need to be updated or "adjusted" at the end of an accounting period to properly reflect revenues and expenses in the appropriate periods. This involves analyzing accounts such as prepaid expenses, unearned revenues, accrued revenues, and accrued expenses to determine the proper adjusting journal entries. The adjusting entries are recorded, an adjusted trial balance is prepared, and financial statements can then be prepared using the adjusted account balances. Vertical analysis is also introduced as a technique to evaluate a company's performance and financial condition by comparing individual financial statement line items to relevant totals.
Kylie Minogue (d. 28 Mayıs 1968), Avustralyalı şarkıcı, şarkı yazarı ve oyuncudur. Kariyerine Avustralya televizyonlarında çocuk oyuncu olarak başladı ve Neighbours dizisindeki Charlene Robinson rolüyle ünlendi. 1987'de PWL ile anlaştı ve bir sonraki yıl ilk stüdyo albümü Kylie'yi yayımladı. Daha sonra aynı şirket aracılığıyla Enjoy Yourself (1989), Rhythm of Love (1990) ve Let's Get to It (1991) adlarını taşıyan üç stüdyo albümü daha çıkardı. 1992'de çalışmaya başladığı Deconstruction Records etiketiyle Kylie Minogue (1994) ve Impossible Princess (1997) albümlerini piyasaya sürdü. Parlophone ile anlaşmasının ardından dans odaklı Light Years (2000) albümü ve "Spinning Around" single'ıyla tekrar ön plana çıktı. Fever (2001) albümünden çıkan "Can't Get You Out of My Head", yaklaşık altı milyon kopya satarak 2000'lerin en başarılı single'ları arasına girdi. Minogue daha sonra Body Language (2003), X (2007), Aphrodite (2010), Kiss Me Once (2014), Kylie Christmas (2015) ve Golden (2018) albümlerini yayımladı. (Devamı...)Kylie Ann Minogue (İngilizce telaffuz: [ˈkaɪliː mɨˈnoʊɡ]; d. 28 Mayıs 1968, Melbourne) ya da kısaca Kylie, Avustralyalı şarkıcı, şarkı yazarı ve oyuncudur. Kariyerine Avustralya televizyonlarında çocuk oyuncu olarak başladı ve Neighbours dizisindeki Charlene Robinson rolüyle ünlendi. 1987'de PWL ile anlaştı ve bir sonraki yıl ilk stüdyo albümü Kylie'yi yayımladı. Daha sonra aynı şirket aracılığıyla Enjoy Yourself (1989), Rhythm of Love (1990) ve Let's Get to It (1991) adlarını taşıyan üç stüdyo albümü daha çıkardı. 1992'de çalışmaya başladığı Deconstruction Records etiketiyle Kylie Minogue (1994) ve Impossible Princess (1997) albümlerini piyasaya sürdü. Parlophone ile anlaşmasının ardından Minogue, dans odaklı Light Years (2000) albümü ve "Spinning Around" single'ıyla tekrar ön plana çıktı. Fever (2001) albümünden çıkan "Can't Get You Out of My Head", yaklaşık altı milyon kopya satarak 2000'lerin en başarılı single'ları arasına girdi. Minogue daha sonra Body Language (2003), X (2007), Aphrodite (2010), Kiss Me Once (2014), Kylie Christmas (2015) ve Golden (2018) albümlerini yayımladı.
Minogue; "The Loco-Motion", "Especially for You", "Better the Devil You Know", "Confide in Me", "Slow", "2 Hearts" ve "All the Lovers" gibi pek çok hit single'a imza attı. 2005'te Showgirl: The Greatest Hits Tour adlı turnedeyken kendisine meme kanseri teşhisi kondu ve turnesini iptal etti. Tedavi olduktan sonra Showgirl: The Homecoming Tour adlı turneye çıktı. Oyuncu olarak Kırmızı Değirmen (2001), Jack & Diane ve Kutsal Motorlar (2012) filmlerinde rol aldı. 2014'te The Voice UK ile Avustralya'daki The Voice'un üçüncü sezonunda jüri üyelerinden biri oldu.
Minogue, dünya çapında 70 milyonu aşkın satışıyla tüm zamanların en çok satan Avustralyalı kadın sanatçısıdır ve aralarında ARIA Ödülleri, BRIT Ödülleri ve bir Grammy Ödülü'nün de bulunduğu ödüller kazandı. Avrupa basını tarafından sık sık "Popun Prensesi" ve "Popun Tanrıçası" ünvanlarıyla anıldı. Ti
The document discusses the conversion cycle in traditional batch production systems and lean manufacturing systems. In traditional systems, the conversion cycle transforms inputs into finished goods through physical production and cost accounting subsystems. It involves planning production, performing operations, inventory control, and cost accounting. Lean systems aim to minimize waste and inventory using just-in-time production principles and technology like automation and advanced information systems.
The four main inventory valuation methods are FIFO (first-in, first-out), LIFO (last-in, first-out), specific identification, and average costing. FIFO assumes the oldest inventory items are sold first and uses those costs. LIFO assumes most recent items are sold first and uses those latest costs, which can save on taxes during periods of rising prices. Specific identification tracks each purchase individually to match actual costs to revenues. Average costing assigns a cost based on the total cost of goods purchased divided by the total number of items.
The document discusses productivity and economic growth. It explains that productivity is important for raising standards of living and is influenced by factors like capital investment, technology, education, and institutions. Labor productivity in particular has varied over time and between countries due to these factors. While productivity growth slowed in some periods for the US, it has grown on average by 2.1% annually since 1870, driving large increases in output per capita and living standards over the long run.
Ma ch 09 aggregate expend aggregate demandUconn Stamford
This document discusses aggregate expenditure and aggregate demand. It focuses on consumption and how consumption depends on and relates to income. It shows that there is a positive relationship between consumption and disposable income, both for households and the economy overall. It introduces the consumption function and how the marginal propensity to consume is the slope of this function. Finally, it discusses other components of spending including investment, government purchases, and net exports.
This document summarizes the key topics covered in Chapter 1 of the textbook "Cornerstones of Managerial Accounting". It defines managerial accounting as providing internal accounting information to assist with planning, controlling, and decision making. The main differences between managerial and financial accounting are explained. Current focuses of managerial accounting include new costing methods, customer orientation, and supporting total quality management. The role of managerial accountants is to provide supportive information to line managers. Ethical behavior is important for both managers and managerial accountants.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
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How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
1. es
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c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
2. Learning Objectives
1.
Describe the importance of control over
inventory.
2.
Describe three inventory cost flow assumptions
and how they impact the income statement and
balance sheet.
3.
Determine the cost of inventory under the
perpetual inventory system, using the FIFO, LIFO,
and weighted average cost methods.
4.
Determine the cost of inventory under the
periodic inventory system, using the FIFO, LIFO,
and weighted average cost methods.
3. Learning Objectives
5. Compare and contrast the use of the three
inventory costing method.
6. Describe and illustrate the reporting of
merchandise inventory in the financial
statements.
7. Describe and illustrate the inventory turnover
and the number of days’ sales in inventory in
analyzing the efficiency and effectiveness of
inventory management.
4. Lear
ning
Obje
De s c
ctive
ribe
the i
mpo
rtanc
e of
cont
over
rol
inve
nt or y
.
1
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
5. Control of Inventory
o Two primary objectives of control over
inventory are:
Safeguarding the inventory from damage or theft.
Reporting inventory in the financial statements.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
6. Safeguarding Inventory
o
The purchase order authorizes the purchase of
the inventory from an approved vendor.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
7. Safeguarding Inventory
o The receiving report establishes an initial
record of the receipt of the inventory.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
8. Safeguarding Inventory
o Recording inventory using a perpetual
inventory system is also an effective means of
control. The amount of inventory is always
available in the subsidiary inventory ledger.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
9. Safeguarding Inventory
o Controls for safeguarding inventory should
include security measures to prevent damage
and customer or employee theft. Some
examples of security measures include the
following:
Storing inventory in areas that are restricted to only
authorized employees.
Locking high-priced inventory in cabinets.
Using two-way mirrors, cameras, security tags, and
guards.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
10. Reporting Inventory
o
A physical inventory or count of inventory
should be taken near year-end to make sure
that the quantity of inventory reported in the
financial statements is accurate.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
11. Lear
ning
Obje
De s c
ctive
r ibe
assu
mpti three inv
t
he in
o
e
com ns and h ntory co
e sta
teme ow they i st flow
m
n t an
d ba pact
l anc e
shee
t.
2
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
14. Inventory Cost Flow Assumptions
o Assume that one unit is sold on May 30 for $20.
Depending upon which unit was sold, the gross
profit varies from $11 to $6 as shown below:
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
15. Inventory Cost Flow Assumptions
o Under the specific identification inventory cost
flow method, the unit sold is identified with a
specific purchase.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
16. Inventory Cost Flow Assumptions
o
Under the first-in, first out (FIFO) inventory
cost flow method, the first units purchased are
assumed to be sold first and the ending
inventory is made up of the most recent
purchases.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
17. Inventory Cost Flow Assumptions
o
Under the last-in, first out (LIFO) inventory
cost flow method, the last units purchased are
assumed to be sold first and the ending
inventory is made up of the first units
purchased.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
18. Inventory Cost Flow Assumptions
o
Under the weighted average inventory cost
flow method, the cost of the units sold and in
ending inventory is a weighted average of the
purchase costs.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
22. Lear
ning
Obje
ctive
Dete
rmin
e t he
unde
c
r
ost o
syste r the p
f inve
m, u s
e r pe
weig
hted ing the F tual inve ntory
ntory
IFO,
aver
age
L
cost IFO, and
meth
ods.
3
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
23. Inventory Costing Methods
o For purposes of illustration, the data for Item
127B are used, as shown below. We will
examine the perpetual inventory system first.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
38. Weighted Average Cost Method
o
When the weighted average cost method is
used in a perpetual system, an average unit
cost for each item is computed each time a
purchase is made.
o
This unit cost is then used to determine the
cost of each sale until another purchase is
made and a new average is computed. This
averaging technique is called a moving
average.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
40. Lear
ning
Obje
ctive
Dete
rmin
u n de e t h e c
ost o
syste er the
m, u s
perio f inve
weig
hted ing the F dic inve ntory
nt or y
IFO,
aver
age
L
cost IFO, and
meth
ods.
4
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
41. First-In, First-Out Method
o
Using FIFO, the earliest batch purchased is
considered the first batch of merchandise
sold. The physical flow does not have to match
the accounting method chosen. This time we
will be examining the periodic inventory
system.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
42. First-In, First-Out Method
o Beginning inventory and purchases of Item
127B in January are as follows:
Cost of merchandise
available for sale
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
43. First-In, First-Out Method
o The physical count on January 31 shows that
800 units are on hand. (Conclusion: 1,300 units
were sold.) What is the cost of the ending
inventory?
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
44. First-In, First-Out Method
o Now we can calculate the cost of merchandise
sold as follows:
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
46. Last-In, First-Out Method
o
Using LIFO, the most recent batch purchased
is considered the first batch of merchandise
sold. The actual flow of goods does not have to
be LIFO. For example, a store selling fresh fish
would want to sell the oldest fish first (which is
FIFO), even though LIFO is used for
accounting purposes.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
47. Last-In, First-Out Method
o Assume again that the physical count on
January 31 is 800 units (and that 1,300 units
were sold). What is the cost of the
merchandise sold?
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
49. Weighted Average Cost Method
o
The weighted average cost method uses the
weighted average unit cost for determining
cost of merchandise sold and the ending
merchandise inventory.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
52. Lear
ning
Obje
Com
ctive
pare
three and con
tr
i
nven
a
tory st the us
e of
costi
t he
ng m
etho
ds.
5
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
53. Comparing Inventory Cost Methods
o Using the perpetual inventory system
illustration with sales of $39,000 (1,300 units x
$30), the differences in ending inventory, cost
of merchandise sold, and gross profit are
illustrated in the next three slides.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
58. Comparing Inventory Cost Methods
o When the FIFO method is used during a
period of inflation or rising prices, FIFO will
show a larger profit than the other two
inventory costing methods.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
59. Comparing Inventory Cost Methods
o When the LIFO method is used during a
period of inflation or rising prices, LIFO will
show a lower profit than the other two
inventory costing methods.
o During a period of rising prices, using LIFO
offers an income tax savings compared to the
other two inventory costing methods.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
60. Comparing Inventory Cost Methods
o The weighted average cost method of
inventory costing is a compromise between
FIFO and LIFO. Net income for the weighted
average cost method is somewhere between
the net incomes of LIFO and FIFO.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
61. Lear
ning
Obje
ctive
De s c
repo
ribe
rting
a nd
of m
illust
erch
rate
in th
an di
t he
e f in
se in
ancia
vent
or y
l stat
em e
nts.
6
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
62. Reporting Merchandise Inventory
o Cost is the primary basis for valuing and
reporting inventories in the financial
statements. However, inventory may be valued
at other than cost in the following cases:
The cost of replacing items in inventory is below the
recorded cost.
The inventory cannot be sold at normal prices due
to imperfections, style changes, or other causes.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
63. Valuation at Lower of Cost or Market
o Market, as used in lower-of-cost-or-market
method, is the cost to replace the merchandise
on the inventory date.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
64. Valuation at Lower of Cost or Market
o Cost and replacement cost can be determined
for the following:
Each item in the inventory.
Each major class or category of inventory.
Total inventory as a whole.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
66. Valuation at Net Realizable Value
o
Merchandise that is out of date, spoiled, or
damaged should be written down to its net
realizable value. This is the estimated selling
price less any direct costs of disposal, such as
sales commissions or special advertising.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
67. Valuation at Net Realizable Value
o Assume the following data about an item of
damaged merchandise:
Original cost
Estimated selling price
Selling expenses
$1,000
800
150
o The merchandise should be valued at its net
realizable value of $650 ($800 – $150).
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
68. Merchandise Inventory on the Balance Sheet
o
Merchandise inventory is usually presented in
the Current Assets section of the balance
sheet, following receivables.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
69. Merchandise Inventory on the Balance Sheet
o The method of determining the cost of the
inventory (FIFO, LIFO, or weighted average)
and the method of valuing the inventory (cost
or the lower of cost or market) should be
shown.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
71. Inventory Errors
o Some reasons that inventory errors may occur
include the following:
Physical inventory on hand was miscounted.
Costs were incorrectly assigned to inventory.
Inventory in transit was incorrectly included or
excluded from inventory.
Consigned inventory was incorrectly included or
excluded from inventory.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
72. Inventory Errors
o
Inventory errors often arise from consigned
inventory. Manufacturers sometimes ship
merchandise to retailers who act as the
manufacturer’s agent.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
73. Inventory Errors
o The manufacturer, called the consignor, retains
title until the goods are sold. Such merchandise
is said to be shipped on consignment to the
retailer, called the consignee.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
77. Lear
ning
Obje
Desc
ctive
turno ribe a
in in ver and nd illus
ven
tra
th
te
e
to r y
in an number the inve
and
effecalyzing of days’ ntory
s
tiven the e
ess o fficie ales
nc
f
man inventor y
agem y
ent.
7
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
78. Inventory Turnover
o
Inventory turnover measures the relationship
between cost of merchandise sold and the
amount of inventory carried during the
period. It is calculated as follows:
Cost of Merchandise Sold
Inventory Turnover =
Average Inventory
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
79. Inventory Turnover
o Inventory turnover for Best Buy is shown below
(in millions).
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
80. Inventory Turnover
o The number of days’ sales in inventory
measures the length of time it takes to acquire,
sell, and replace the inventory. It is computed
as follows:
Number of Days’ =
Sales in Inventory
Average Inventory
Average Daily Cost of
Merchandise Sold
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
81. Inventory Turnover
o The number of days’ sales in inventory for Best
Buy is computed below (in millions).
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
82. dix
en ting
pp ima
A st
E
ost
E ry C o
nt o
nve
I
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
83. Retail Method of Inventory Costing
o
The retail inventory method of estimating
inventory cost requires costs and retail prices
to be maintained for the merchandise
available for sale.
o
A ratio of cost to retail price is then used to
convert ending inventory at retail to estimate
the ending inventory cost.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
85. Gross Profit Method of Inventory Costing
o The gross profit method uses the estimated
gross profit for the period to estimate the
inventory at the end of the period.
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
87. es
ri
n to
ve
In
nd
E
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c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.