Cost Accounting Final

Service Commitments – Government policy papers, service delivery plans and national targets for the country or a district as well as politicians promises are all what are known as commitments. Commitments are promises that the state, government officials and politicians have made to citizens. Knowing what these commitments are is important for accountability work. It is another thing you can check up on. See if the promises have been delivered on. Remember that government commitments to service delivery also imply that services will be provided equally to women and men.
sistema de lo devengado – accrual method
Net profit – sales revenue less all expenses incurred by a business
normal balance – side of the account that is increased
The credit side of the T-account is the – Right side
Responded in a timely manner to – Оперативно отвечала на
Declining-Balance Depreciation and formula – Is the method that allocates the cost of an asset over its useful life based on a multiple of the straight-line rate (often two times).

Depreciation Expense = ((Cost – Accumulated Depreciation) x ( 2 / Useful Life))

When the Fed increases the reserve requirements for banks, it is decreasing the money supply.  
Compensation Record – See individuals earnings record. (An employee record that contains information needed to compute earnings and complete tax reports.)
General amount column – A journal amount column that is not headed with an account title
Fixed Costs – Total cost does not change because volume changes (within relevant range); The cost per unit does change as volume (number of units) changes; Ex: Salaries, P/R taxes on salary, insurance, rent, property taxes, depreciation;
When the Fed increаses the reserve requirements fоr bаnks, it is decreаsing the mоney supply.  
#2. Which of the following financial statements reflect activity for a period of time? – only the income statement

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply