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Accounting terminology, Asset: Tangible asset: Intangible asset. Balance Sheet, Balancing the books. Bank Reconciliation. Reconciliation. Memorandum or Control account Depreciation, Provisions, Goodwill, Nominal accounts, Reserves, Statutory Accounts, Income Statement, financial records
VAT, net worth Taxes on death, inheritance tax estate taxes Excise tax, luxury taxes, gambling taxable, stamp Taxes excises and customs legal transactions Proportional
progressive, and regressive taxes, sales tax, Benefit tax, sin tax, property, Payroll Tax, Companies/partners /sole trader, Business organisations, The accrual concepts/ Substance over form./ cost concept, Receivables/evaluable/ Cost Mode, Accountant knowledge/business laws; contract, tort, employment agency law/ rules, Accounts/cash flow /Balance sheets/Income Statements/accrual basis External and Internal Auditor inventory LILO,FIFO, Business development/Amortisation/Research cost (IAS38)/intangible asset, Agent/agency relationship/Steward, Markets/Management/association/profit
Effective and efficient managing Businesses
We aim to consider the following. Important in to Management Accounting, cost related management account. Direct Indirect Materials Labour: Overhead: Variable Fixed, Mixed Contribution Product costs, Period costs Work-in-process cost: Finished goods cost: Cost of goods manufactured: goods sold: Controllable Conversion, Incremental Irrelevant Opportunity Sunk Historical Cost per unit: Expense: Cost driver: Target cost: Process cost Job order Absorption Master Budget recession, Depression in in financial terms, business cycle, microeconomics, seasoning employment, Fiscal policy mean, monetary policy, Fractional reserve banking and quantitative easing, Liquidity preference Bond Inflation consumer price index (CPI), retail price index (RPI) relate, deflation Phillip’s curve Monetarism Neoclassical macroeconomic synthesis, Pay back relate, microeconomic Macroeconomic Absorption costing Marginal costing; marginal cost and absorption costing Relevant and none relevant decision Opportunity cost, Purpose of budgeting. What method are used for investment appraisal Probability, correlation, ABB (activity base budget) use for, ABM (activity base management, normal losses. Abnormal losses Inventory include.
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