Contents Trials Balance for Colin's Cars 1 Balance Sheet for Colin's Cars 2 Profit and Loss Account for Colin's Cars 3 Letter to Colin explaining the methods of depreciation 4 - 6 Accounting Conventions 7 - 8 Bibliography 9 Reference 10 Dear Colin, Re: Depreciation methods I understand that you wish to expand your business to incorporate a hire car service. As you are aware that you need to depreciate your fleet, there are a few methods of depreciations, they are Straight Line Method, Reducing Balance Method and Sum of the Year's Digits Depreciation. Straight Line Method: This spreads the cost of the asset equally over its period of use. G Black (2000: 51) suggested to use the following formula for calculating depreciation under this method: Cost - Estimated residual value Useful economic life in years Reducing Balance Method: This spreads the cost of the asset over its period of use in a different way. More depreciation is charged in the early periods of use than in the later one. P Cahill (2001) suggested the following formula for calculating depreciation under this method: Net Book Value = Cost x (1-r)n Where r is depreciation rate (as a decimal) and n is number of year. These two methods are more commonly used I did a research on other methods on depreciation, and I found a method called Sum of
FINANCE FOR MANAGERS MODULE B103 ASSIGNMENT Fixed assets Fixed assets represent the more or less permanent assets of the business. They are not normally for re-sale. Examples include premises, fixtures & fittings, furniture, equipment and motor vehicles. Investments of a long-term nature may also be included. The purchase of stocks and shares in other companies of property investment are some examples. These fixed assets are 'tangible' because they can be seen. Some assets are 'intangible' because they cannot be seen. Goodwill is one of the latter and represents the good name or reputation of the business, which could be valuable, if it is sold. Three examples of fixed assets are: * Premises or buildings This is considered to be a fixed asset because it is owned either by the business or by the owner and is of value. Buildings are property and are therefore usually not re-sold; they tend to be more permanent assets to the business. * Equipment This is a purchase by the business and can include such things as stationary, machinery and other items relating to the running of the business. The origin of the business and the type of product that it produces will determine what equipment it purchases. A disadvantage is that equipment can be seen to be a minor expense than that of the premises. Therefore, the concept that all equipment are fixed assets can be untrue.
MA MANAGEMENT AND INTERNATIONAL BUSINESS FINANCE ASSIGNMENT Financial information maybe, in simple terms, understood as information with regards to the functioning of the enterprise and details of its resources. Accounting of financial information is all about providing data that helps to understand the financial position of the organisation, how resources have been used, future changes etc. It is a part of communication. Proper accounting of financial information is essential and it also helps in proper decision-making. Previously financial information used to be communicated only internally. But with the rise in growth and globalisation, there has been communication of financial information externally too. There are several users of financial information. The users of financial reports use the information obtained from financial statements for specific purposes. Investors, competitors, suppliers, government agencies, general public, employees etc. are some of the various user groups. But there are differences in the way financial information is reported in different countries. The accounting standards are different in different countries. "Accounting of financial information differs in content and application from country to country. In some situations accounting differences lead potentially to inefficiencies, missed opportunities and distortions of economic behaviour."
Auditing is becoming an increasingly expensive part of the management of health care. Discuss the role it plays in the financial management of a hospital, and comment on the value this adds.
MBA (Health Executive) Programme 2001 Accounting and Financial Management Assignment: Auditing is becoming an increasingly expensive part of the management of health care. Discuss the role it plays in the financial management of a hospital, and comment on the value this adds. Student Number: 020109477 Report to: Education and Training Development Group of a NHS Trust From: Student Number: 020109477 Subject: A review of the present system of, and the future for, financial audit within the overall audit framework of the National Health Service. . Introduction to paper This paper aims to define audit within the context of the National Health Service (NHS) with a particular focus on the financial auditing of NHS Trusts. The paper will provide an introduction to public sector and NHS audit, discuss the uncertainty concerning audit and identify key implications for the future. 2. Introduction to Audit The Collins Concise English Dictionary defines audit as "an inspection, correction and verification of business accounts by a qualified accountant" and "any thoroughgoing examination or check." Within the NHS the term audit refers to both the financial aspects of the business and the quality of services through clinical audit. The key purpose of financial audit is to ensure the appropriate use of resources, within the public sector this
It has been suggested that the so-called traditional systems should be replaced by new approaches. Factors Shaping Management Accounting Change However, before describing our observations on the changing nature
) Management accounting change and stability: Loosely coupled rules and routines in action Kari Lukka. 2) Management accounting change. John Burns and Juhani Vaivio. CONTENTS: * Introduction * Management Accounting Defined * Management Accounting changes for the 1990s * New element to be consideration in management accounting * Main changes is Activity Based Costing (ABC) * Traditional costing today * Conclusion Introduction: During the last years we have seen innovative practices and new methods in the field of management accounting. For different subject areas it was advocated that existing concepts and techniques ware obsolete and create dysfunctional behaviour. It has been suggested that the so-called traditional systems should be replaced by new approaches. Factors Shaping Management Accounting Change However, before describing our observations on the changing nature of management accounting and the changing roles of an accountant. In capital budgeting, there is a call for strategic investment appraisal instead of traditional discounted cash flow methods. In cost accounting, activity based costing is becoming popular. Also, new concepts and theories are being sought for ensuring performance. Management Accounting Defined: Management Accounting is an integral part of management concerned with identifying, presenting and interpreting information used
Essential information School/College Contact Name: Mr. O' Brien Email: Supervising Tutor: Miss Bevans You're Placement Organisation Placement Organisation: Family Mosaic Learner's department and role: Organisation Address: 20 Tower Bridge Road Southwark London SE1 4TR Organisation placement super visor: Senior housing officer Dates of Placement: From the 7th of July till the 18th Personal targets Set yourself some targets so that you know what you are trying to get out of your time on Work Experience. We have started with six - think of four more of your own and say why you think they are important. My personal target Why it is important . Go to work as agreed It will create problems for other people if they are expecting me and I don't turn up. 2. Be on time To do things properly, without any rush and to also be punctual. 3. Work safely In order not to in danger others as well as yourself. 4. Show that I am keen about my work First impressions are very important and to also show that you are serious about your work placement. 5. Get on well and work effectively with other people at work Employees can trust you and rely on your word. 6. Listen and understand what the supervisor is telling you To understand what you are doing and what you have to do. 7. Dress appropriately Your appearance looks tidy and well-dressed for the
Act 3 scene 5 is dramatic and one in which we learn a lot about the Capulet family and their views of marriage. Do you agree? Act 3 scene 5 is a dramatic scene as we see a change of personalities in the Capulet household. We also learn on about the traditional views on marriage in the 16th century. In the beginning of act 3 scenes 5 there's already a sense of tension as we see Romeo disregarding his banishment and remaining in Verona. This is theatrical, as Romeo has been warned never to step foot in Verona, let alone the Capulet residents. When the nurse enters to inform Juliet of her mother's arrival, the tension is created through the quick speeches. This has an affect on the audience, as the characters become more anxious and uneasy. 'Then, window, let day in, and let life out.' The mood of the opening scene is calm and peaceful, as Romeo and Juliet exchange their love for one another. 'Its not yet near day, it was the nightingale, and not the lark.' Later in the scene, we see the first change of mood, as Juliet objects to her parent's wishes. She is then bombarded with insults, from her once loving father and faces rejection from her mother. This is dramatic as the audience are drawn in for further interaction between the characters. Dramatic irony is when the audience are aware of an incident, but the characters on stage aren't. An example of dramatic irony was
Realistic and through recommendations on how your chosen organisation could improve its quality expectations, with an explanation of the changes the recommendations would bring out. Delivery Vehicles If Asda realistically wanted
Realistic and through recommendations on how your chosen organisation could improve its quality expectations, with an explanation of the changes the recommendations would bring out. Delivery Vehicles If Asda realistically wanted to better their quality standards then they could hire and train more drivers to handle deliveries. This is because the lack of drivers will slow down the amount of deliveries that can be delivered. So it is ideal to invest in at least two or three new drivers. This will mean there will be more expenditure, as Asda will have to invest in at least one more van but it will prove beneficial as customers will get there order in time without to much fuss. If Asda was to hire the extra deliverymen then it could prove quite costly and shifts may have to be altered, this could mean that some workers will get some days of and some people can day and night shifts. All this will prove beneficial in the end because Asda will know that their customer's orders will arrive on time. This will help Asda gain more of a surplus and more customers. Here are some changes and recommendations that Asda will have to make if more drivers are hired: * More Vans - this could mean more orders can be delivered to customers without to much hassle * Shifts - this will mean some workers will have to run less shifts and they can use the time of as a way to recharge themselves
University of Bradford School of Management Postgraduate Full time MA Accounting and Finance Course leader: Les Chadwick Tutor: Dr Mohammed Hudaib Words count: 3243 UB NO Family First Course Group Team 04013265 Tan Zhe IBM A 11c 04010013 Yang Xiuwei IBM A 11c 04003701 Su Chin-Yi IBM A 11c 03013551 Yamamoto Takao IBM A 11c 04001507 Troyanovska Kateryna IBM A 11c 03013677 Yang Dailin IBM A 11c 03-12-04 Introduction The Lee Chew Cheng Wong Chemical Company produces high quality speciality chemicals, and it exports around 85% of its output to many countries and regions. Since the establishment in the mid 1980 this company has emphasized the shareholder value. To keep this focus, a new Chief Executive Lee Shan Loke Teo has proposed a lot of new policies. This assignment evaluates the financial rations with Sun See Chemical Company and average industry, and presents the financial effect of the proposal that Lee Shan Loke Teo adopts. That final section shows the recommendation of costing system and capital expenditure budget. Evaluate the financial performance As the profit and loss account shows, the Lee Chew Wong Chemical Company's net sales decreased from $5.6m to $4.2m, and the gross profit reduced from $1.8m to $1.5m, while in 20x9 the retained profit of the company reached the peak of $0.4m during this period. Although
Noughts and Crosses Becca Jury Noughts and crossescan only be described as the most intoxicating unputdownable heart-rending bookever. A book that has you absorbed until the last full stop yet lingers in themind for a long time afterwards. It has...
Noughts and Crosses Becca Jury Noughts and crosses can only be described as the most intoxicating unputdownable heart-rending book ever. A book that has you absorbed until the last full stop yet lingers in the mind for a long time afterwards. It has to be said, it easily classifies as my favourite book. EVER. To set the scene for you, this book is set in a world where black and white is right and wrong. Malorie Blackman skilfully avoids mentioning time and place which focuses on the novel being set in a bubble of racial injustice. This provocative book makes us think about race in a totally different way through the two main characters as they struggle to keep their friendship alive. Callum is a nought -a second class citizen- in a world dominated by crosses. Sephy is a cross and daughter to one of the most powerful men in the country. The introduction of these two characters causes us to dive straight into their deep fondness for each other, we feel intertwined with their every thought and feeling due to the chapters alternating between both character's diaries. The stereotypical ideas most people are brought up with about racism, led me to assume that Callum would be black, however Malorie Blackman has used the clever device of turning these preconceived ideas upside down to make sure that her point is well and truly made. As the lives of these two characters progress,