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Specific Identification Method of Inventory Accounting
Specific Identification Method of Inventory Accounting
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Short-Run Decision Making
This video provides a clear explanation of short-run decision making and emphasizes its importance in the decision making process, particularly in terms of the immediate impact and time frame involved.
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Selling and Administrative Expense Budget
The selling and administrative expense budget is a plan to set aside resouces for expenses not related to manufacturing. Often these resources are separated in distinct accounts for selling, administration, and administrative tasks
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Return on Investment - Margin and Turnover
Return on Investment or ROI can be calculated using the sales margin divided by the asset turnover.
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Variances in Cost Volume Profit Analysis
Variance in any of major variables employed in the cost volume analysis will cause a variation in the expected output or profits from operations. This video identifies the major variables that may vary in a CVPA analysis.
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Activity-Based Costing - Types of Activities
Activity-based costing identifies numerous categories or types of activity to which costs are allocated. This video explains the the types of activities employed in activity-based costing.
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Transfer Pricing and Policies
Transfer pricing is applicable to the transfer of goods and services between mutually-controlled entities. This video explains transfer pricing and provides guidance with regard to policies that comply with treasury regulations.
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Contribution Format Income Statement
This video what is the Contribution Format Income Statement in managerial accounting. It also discusses how managers use the contribution format income statement in comparison to a traditional income statement required under GAAP.
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Zero Cost Strategy
The term zero-cost strategy refers to a trading or business decision that does not entail any expense to execute. A zero-cost strategy costs a business or individual nothing while improving operations, making processes more efficient, or...
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Introduction to Weighted Average Costing
This video explains the concept of weighted average costing and how it is used in assigning the average cost of production to a product. The teacher highlights that this method is efficient when inventory is commoditized and all units...
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Value Engineering
Value engineering is the review of new or existing products during the design phase to reduce costs and increase functionality to increase the value of the product. The value of an item is defined as the most cost-effective way of...
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Transformative Business Model
Transformative business models are those that incorporate change in industry and society in addition to seeking profit.
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Activity-Based Costing vs Traditional Costing
Traditional methods of allocating costs differs from activity-based costing methods. This video explains the difference between activity-based costing and traditional costing methods.
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Time to Market
What is the Time to Market for a startup venture? Time to Market (TTM) is the time it takes to go from an idea to a finished product. Sometimes you will come across the term Speed to Market (STM). In the context of startups, TTM is a...
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Theories of Group Formation
What are the primary theories of Group Formation? This article throws light on the four important theories of group formation, i.e, (1) Propinquity Theory, (2) Homan's Theory, (3) Balance Theory, and (4) Exchange Theory.
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Using Budgets for Performance Evaluation
In this video, the speaker discusses how budgets are used as a tool for performance evaluation. The speaker highlights several key performance indicators (KPIs) or metrics that can be derived from the budget. Overall, the video...
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Understanding Job Order Costing in a Unique Environment
This video explains the characteristics of job order costing and how it is used in environments where products and services are distinct and unique. It also discusses the process of creating a cost pool for a particular job and how to...
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Change in Estimates - Long Term Depreciation - Accounting
Change in Estimates - Long Term Depreciation - Accounting
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Capitalization Policy - Effect on Financial Statements
Companies often employ differing policies concerning whether to capitalize the purchase of assets or expense the purchase in a given year. This video explains the effects of a capitalization policy on the financial statements.
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Inventory Costing: Understanding FIFO Method
In this video, the teacher explains the concept of FIFO (First-In, First-Out) method for inventory costing. They go through the journal entries and calculations step by step, showing how to determine the cost of goods sold and ending...
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Calculating Prime and Conversion Cost
Prime costs are those direct material and direct labor costs necessary to finish a product. Conversion costs are the overhead and direct labor necessary to convert a raw material into a final product.
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Business Plan - Financial Projections
What should be included in the Financial Projections portion of the business plan? The financial section of your business plan should include a sales forecast, expenses budget, cash flow statement, balance sheet, and a profit and loss...