Process: Cost systems Learning objectives After studying this chapter, you should be able to: • Describe the types of operations that require a process cost system. • Distinguish between process and job costing systems. • Discuss the concept of equivalent units in a process cost system. • Compute equivalent units of production and unit costs under the average cost procedure. • …
Accounting is often called the language of business because it uses a unique vocabulary to communicate information to decision makers. In this chapter, we will discuss what financial accounting is and briefly introduce how financial information is communicated through financial statements. Then we will study how financial transactions are analyzed and reported on financial statements. Accountin…
Answer: Financial accounting1 focuses on providing historical financial information to external users. External users are those outside the company, including owners (e.g., shareholders) and creditors (e.g., banks or bondholders). Financial accountants reporting to external users are required to follow U.S. Generally Accepted Accounting Principles (U.S. GAAP)2 , a set of accounting rules that…
Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied…
Lifestyle approaches aren’t just safer and cheaper. They can work better, because you’re treating the actual cause of the disease.
This Open Access book, building on research initiated by scholars from the Leiden-Delft-Erasmus Centre for Global Heritage and Development (CHGD) and ICOMOS Netherlands, presents multidisciplinary research that connects water to heritage. Through twenty-one chapters it explores landscapes, cities, engineering structures and buildings from around the world. It describes how people have actively …
This open access book provides worldwide examples demonstrating the importance of the interplay between demography and disasters in regions and spatially. It marks an advance in practical and theoretical insights for understanding the role of demography in planning for and mitigating impacts from disasters in developed nations. Both slow onset (like the of loss polar ice from climate change) an…
Water Systems and Technology is a program designed to provide the student with enough information to build a successful and lasting career in the water and wastewater industry. It is a by professionals within the industry and within academia. Upon successful completion of the program and after completing any required general education course work, the student can earn an Associate of Science de…
Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied…