This chapter explores absorption and activity-based costing. It notes the importance of overheads when costing products. The chapter uses equations to calculate a simple blanket overhead rate and a simple activity-based cost. It uses absorption costing methods to fully cost out a range of products. The chapter also cites the limitations of traditional costing methods. It includes the under recovery and over recovery of overheads costs which are indirect costs to a business that cannot be linked directly with a product. Towards the end, the chapter includes the process of going through costs being collected by manufacturing departments by referencing cost allocation, apportion, and reapportion of indirect costs.
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Absorption and Activity-Based Costing
Sam’s Cost Conundrum
Book
Mary Carey and Cathy Knowles
Accounting is made up of two main parts. Part One covers financial accounting. It starts off by looking at the cash budget. It then moves on to the statement of profit or loss. It also looks at balancing the basics. It then turns to company finance and accounts. It also considers the capital structure and investment ratios. The second part is about management accounting. This part discusses costs and break-even analysis, absorption and activity-based costing, and budgeting. It also examines pricing and costs, short-term decision making, investment appraisal techniques, and measuring and reporting performance.
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Accounting Basics
This chapter describes the basics of the financial accounting system. It examines the principles underlying the three most important outputs of the system: the statement of financial position, the statement of comprehensive income, and the statement of cash flows. The chapter also looks at the internal dynamics of the accounting system—double-entry bookkeeping and year-end procedures—to facilitate understanding of these financial statements. Assets, liabilities, equity, income, and expense are the five elements of an accounting system. The chapter then introduces an imaginary business, the Pizza Business, as an example. It accounts for fourteen basic transactions and other events in the financial statements of the Pizza Business using the accounting equation, the terminology of debits and credits, and numerous explanations of key principles.
Book
Peter Scott
Accounting for Business contains two parts. Part One is about financial accounting. Chapters include examinations on the statement of financial position, the income statement, cash flows, and ratio analysis. Part Two looks at cost and management accounting. This part includes chapters on costing, relevant costs, marginal costing, decision-making, budgeting, and capital investment appraisal.
Book
Peter Scott
Accounting for Business is designed to be used as an introduction to the practice and techniques of accounting in the business world. This e-book and the associated materials shows why a knowledge of accounting and its integral role in all organizations are of vital importance to a career in business. It is aimed specifically at a non-specialist studying an introductory accounting module as part of a degree in a business related subject. The book provides careful step-by-step guides on how to construct and evaluate various accounting statements. Further opportunities are then given to apply what has been learnt with a view to enhancing users’ understanding and ability to produce and interpret accounting information. Accounting for Business contains two parts. Part One addresses financial accounting. Chapters include examination of the statement of financial position, the statement of profit or loss and the statement of cash flows and ratio analysis. Part Two looks at cost and management accounting. This part includes chapters on costing, relevant costs, marginal costing, decision making, budgeting and capital investment appraisal. A final chapter presents an introduction to corporate governance and sustainability.
Chapter
Accounting for Depreciation and Bad Debts
Smart Sports is Called to Account
This chapter explores accounting for depreciation and bad debts. It highlights the importance of depreciating non-current assets through the straight-line and the reducing-balance methods of providing. Next, the chapter explains the need for providing for bad and doubtful debts. It describes the process of a final adjusted statement of profit or loss and a statement of financial position. The chapter also points out the limits of a statement of financial position by citing historical costs, estimates, judgements, and mining assets. It looks into key accounting concepts such as the entity concept, the money measurement concept, the matching concept, the prudence concept, and the consistency concept.
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Ad-Apt in São Paulo?
The Cases in Marketing provides a bridge between course textbooks and key real-world examples. The Ad-Apt in São Paulo? case study summarizes and examines the scenario and includes supporting commentary from Paul Baines, Chris Fill, Sara Rosengren, and Paolo Antonetti.
Chapter
15. The Administration of Corporations
This chapter studies the various forms of business organization that are available to those who trade. It focuses on the types of trading structures available, how they are established, and provides an overview of the implications of each form of business organization. It should be noted that there is no one model that will suit every individual or every business model. It is very much the decision of the individual—having assessed the business, what they wish to do with it, and how they see it continuing in the future—to determine the form of enterprise chosen. Being aware of the consequences for the business organization is crucial in making this decision.
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2. The administration of the law
This chapter examines the administration of the law under the English legal system. It aims to clarify how, and by whom, the law is administered. It identifies the structure, jurisdiction, and composition of the various courts, and also discusses how the tribunals system fits into the administration of the law. In addition, the chapter looks at less formal approaches to dispute resolution, such as alternative dispute resolution. This chapter describes the duties and responsibilities of the different members of the legal profession including the judiciary, the law officers, barristers, solicitors, legal executives, and paralegals. It also considers the appellate procedure.
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Advertising ‘Like a Girl’
The Cases in Marketing provides a bridge between course textbooks and key real-world examples. The Advertising ‘Like a Girl’ case study summarizes and examines the scenario and includes supporting commentary from Paul Baines, Chris Fill, Sara Rosengren, and Paolo Antonetti.
Chapter
Advertising Across Cultural Borders
This chapter looks into advertising to different cultures. It lists the basic sources of various cultural assumptions ranging between sources of culture, cognitive organization, and cultural expressions. The chapter uses Hofstede’s dimensions and definitions framework on cultural values citing power distance, individualism/collectivism, uncertainty avoidance, masculinity/femininity, and long-term orientation as dimensions. It also includes the different approaches to communication, which are divided between high-context culture and low-context culture. Moreover, the chapter explores other cultural dimensions such as Schwarz’ Universal Value Structure. It highlights how culture impacts the process and effectiveness of advertising and brand perceptions.
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Advertising, Arabic Style
The Cases in Marketing provides a bridge between course textbooks and key real-world examples. The Advertising, Arabic Style case study summarizes and examines the scenario and includes supporting commentary from Paul Baines, Chris Fill, Sara Rosengren, and Paolo Antonetti.
Chapter
The agile manifesto
Cases in Organizational Behaviour provides a bridge between course textbooks and key real-world examples. The agile manifesto case study summarizes and examines the scenario and includes supporting commentary from Daniel King and Scott Lawley.
Chapter
Åhléns
The Cases in Marketing provides a bridge between course textbooks and key real-world examples. The Åhléns case study summarizes and examines the scenario and includes supporting commentary from Paul Baines, Chris Fill, Sara Rosengren, and Paolo Antonetti.
Chapter
Airlines: Fight and Flight
The Cases in Marketing provides a bridge between course textbooks and key real-world examples. The Airlines: Fight and Flight case study summarizes and examines the scenario and includes supporting commentary from Paul Baines, Chris Fill, Sara Rosengren, and Paolo Antonetti.
Chapter
Aldoraq Water Bottling Plant
The Cases in Marketing provides a bridge between course textbooks and key real-world examples. The Aldoraq Water Bottling Plant case study summarizes and examines the scenario and includes supporting commentary from Paul Baines, Chris Fill, Sara Rosengren, and Paolo Antonetti.
Chapter
Algebra
This chapter shows how algebra is a form of shorthand which is used to express complex statements clearly and concisely and how symbols are used to denote unspecified or variable numbers. It begins by presenting the rules of algebra and ways of manipulating algebraic symbols. Then it introduces the various operations for fractions. The chapter then considers the basic understanding of powers and roots and the application of algebraic rules for manipulating them. Finally, the distinction in logic between a necessary and a sufficient condition is reviewed explicitly.
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All change?
This chapter begins by looking at whether or not it can be claimed that new forms of work organization have emerged in recent decades. It analyzes different forms of working, managing change, and technology, including the Japanese model of management. It also explains how the Japanese model was perceived in the 1970s and early 1980s as a new way of improving productivity and competitiveness, how real that was, and how well it translated into Western organizations. The chapter documents some of the key changes that are widely celebrated and discussed in the management literature. It critiques how much change has actually happened in terms of work organization in the last two or three decades.
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Alliances in the Sky
The Cases in Marketing provides a bridge between course textbooks and key real-world examples. The Alliances in the Sky case study summarizes and examines the scenario and includes supporting commentary from Paul Baines, Chris Fill, Sara Rosengren, and Paolo Antonetti.
Chapter
Amazon instant video
Cases in Strategic Marketing provides a bridge between course textbooks and key real-world examples. The Amazon instant video case study summarizes and examines the scenario and includes supporting commentary from Douglas West, John Ford and Essam Ibrahim.
