Management Accounting at University Of Fort Hare | Flashcards & Summaries

Lernmaterialien für Management Accounting an der University of Fort Hare

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What is the best financial statement to evaluate the financial stability of a firm?
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Cash flow statement
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 various type of financial statement

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Balance sheet
 profit and loss financial statement

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Financial Statement Fraud

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Deliberate mispresentation of the financial Condition of an enterprise by manipulation of financial statements 

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Components of a good model
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-raw historical data - integrated financial statement - historical analysis and forecast ratios - market data and WACC - reorganised financial statements - ROIC and FCF - Valuation summary
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4 Main types of financial statements

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• Balance sheet / statement of financial position
• Income statement
• Statement of cash flows
• Statement of changes in shareholders’ equity


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On what is the decision to drop a product depending on?

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CONTRIBUTION


contribution = revenue - variable costs

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How to calculate product cost and period cost with absorption costing?

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Product cost:

  • Direct materials (variable)
  • Direct labor (variable)
  • Variable manufacturing overhead [VOH]
  • Fixed manufacturing overhead


Period cost:

  • Variable SGA
  • Fixed SGA

[all non-manufactuing costs e.g. marketing, R&D etc.]

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TESTE DEIN WISSEN

What is a cost allocation base? And how to calculate cost allocation rate?


calculate cost allocation base:

operating metal-cutting machines: $500.000

running hour of these machines: 10.000 h

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TESTE DEIN WISSEN

cost allocation base is a systematic way to link an indirect cost /or/ group of indirect cost to cost object


e.g. indirect cost of operating metal-cutting machines =$500.000

running hour of these machines = 10.000 h

cost allocation base rate: 50 $ per h

cost allocation base: machine hour

Lösung ausblenden
TESTE DEIN WISSEN

How to calculate product cost and period cost with variable costing?

Lösung anzeigen
TESTE DEIN WISSEN

Product cost:

  • Direct materials (variable)
  • Direct labor (variable)
  • Variable manufacturing overhead (VOH)


Period cost:

  • Variable SGA
  • Fixed SGA
  • Fixed manufacturing overhead
Lösung ausblenden
TESTE DEIN WISSEN

What are the types of allocating support department cost?

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  • Direct method
  • Sequential method
  • Reciprocal method
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Name Elements of Financial Statements!
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•Balance sheet •Income statement •Statement of comprehensive income •Statement of changes in equity •Cash flow statement •Segment reporting •Notes •Management Discussion & Analysis (MD&A) •Additional declarations (e. g. Corporate Governance conformity)
Lösung ausblenden
TESTE DEIN WISSEN
what is a financial statement and what are the two types?
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TESTE DEIN WISSEN
a financial statement Is used as it measures a business' financial success. One the is income statement(profit and loss account) and the statement of financial position(balance sheet). 
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Q:
What is the best financial statement to evaluate the financial stability of a firm?
A:
Cash flow statement
Q:

 various type of financial statement

A:

Balance sheet
 profit and loss financial statement

Q:

Financial Statement Fraud

A:

Deliberate mispresentation of the financial Condition of an enterprise by manipulation of financial statements 

Q:
Components of a good model
A:
-raw historical data - integrated financial statement - historical analysis and forecast ratios - market data and WACC - reorganised financial statements - ROIC and FCF - Valuation summary
Q:

4 Main types of financial statements

A:
• Balance sheet / statement of financial position
• Income statement
• Statement of cash flows
• Statement of changes in shareholders’ equity


Mehr Karteikarten anzeigen
Q:

On what is the decision to drop a product depending on?

A:

CONTRIBUTION


contribution = revenue - variable costs

Q:

How to calculate product cost and period cost with absorption costing?

A:

Product cost:

  • Direct materials (variable)
  • Direct labor (variable)
  • Variable manufacturing overhead [VOH]
  • Fixed manufacturing overhead


Period cost:

  • Variable SGA
  • Fixed SGA

[all non-manufactuing costs e.g. marketing, R&D etc.]

Q:

What is a cost allocation base? And how to calculate cost allocation rate?


calculate cost allocation base:

operating metal-cutting machines: $500.000

running hour of these machines: 10.000 h

A:

cost allocation base is a systematic way to link an indirect cost /or/ group of indirect cost to cost object


e.g. indirect cost of operating metal-cutting machines =$500.000

running hour of these machines = 10.000 h

cost allocation base rate: 50 $ per h

cost allocation base: machine hour

Q:

How to calculate product cost and period cost with variable costing?

A:

Product cost:

  • Direct materials (variable)
  • Direct labor (variable)
  • Variable manufacturing overhead (VOH)


Period cost:

  • Variable SGA
  • Fixed SGA
  • Fixed manufacturing overhead
Q:

What are the types of allocating support department cost?

A:
  • Direct method
  • Sequential method
  • Reciprocal method
Q:
Name Elements of Financial Statements!
A:
•Balance sheet •Income statement •Statement of comprehensive income •Statement of changes in equity •Cash flow statement •Segment reporting •Notes •Management Discussion & Analysis (MD&A) •Additional declarations (e. g. Corporate Governance conformity)
Q:
what is a financial statement and what are the two types?
A:
a financial statement Is used as it measures a business' financial success. One the is income statement(profit and loss account) and the statement of financial position(balance sheet). 
Management Accounting

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