Term
| Fixed Manufacturing Overhead |
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Definition
| won't need "flexing" when the end of the period is being analyzed |
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Term
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Definition
| Treated as an adjustment to cost of goods sold if it is immaterial relative to the total production costs during the period |
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Term
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Definition
| The price at which a product or good is sold by one segment to another related segment |
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Term
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Definition
| A set of integrated financial and operating performance measures that communicate an organization's priorities associated with achieving strategic goals |
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Term
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Definition
| a technique used to filter cost information contained in performance reports to each manager within the organization at an appropriate level of detail or summarization |
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Term
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Definition
| The excess of actual revenues over the budget amount |
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Term
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Definition
| An actual expense that is greater than a budgeted expense |
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Term
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Definition
| each layer of management receives detailed performance reports for the activities directly associated with that layer, but summarizes results of lower layers on the chain of command |
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Term
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Definition
| Permits managers to concentrate their attention on only those activites that aren't performing according to plan |
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Term
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Definition
| Represents the difference between actual and standard cost. Unit costs and quantity of the input affects variance |
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Term
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Definition
| An element of the organization over which a manager has been assigned responsibility and authority for which performance is evaluated |
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Term
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Definition
| Doesn't directly generate any revenue for the organization |
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Term
| General and Selling Expenses |
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Definition
| Never included in the calculation of gross profit |
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Term
| Periodic Inventory System |
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Definition
| Cost of goods sold can be calculated by subtracting the ending inventory amount from the sum of beginning inventory and net purchases |
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Term
| "earned" revenue recognition |
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Definition
| The entity has completed or substantially completed the activities it must perform to be entitled to the revenue benefits |
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Term
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Definition
| A reduction in the amount owed by the customer as a result of defective merchandise received |
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Term
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Definition
| inflows or other enhancements of assets of an entity or settlements of its liabilities from activities that constitute the entity's ongoing operations |
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Term
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Definition
| The product or service has been exchanged for cash |
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Term
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Definition
| Owners are interested in expressing the profits of the firm as a rate of return on the amount of owner equity. |
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Term
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Definition
Measures the relative proportion of contribution from owner's and creditor's
liability / equity |
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Term
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Definition
Measures the percent of assets being provided by creditors
liabilities/ liabilities + equity |
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Term
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Definition
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Term
| Accounts Receivable Turnover |
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Definition
| A measure of how many times a company converts its receivables into cash each year |
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Term
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Definition
A measure of the number of times a merchandise inventory is sold and replaced during the year
Cost of Goods Sold / Average Inventory |
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Term
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Definition
| A measure of the number of times inventory is sold and replaced |
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Term
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Definition
Measures the ability of the company to pay current debts as they become due.
2.0 adequate liquidity Assets/Liabilities |
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Term
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Definition
| Information about an almost worst-case situation. the firm’s ability to meet its current obligations. Even if none of the inventory can be sold |
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Term
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Definition
| Measure of the amount that would be distributed to owners of each share of common stock if all assets were sold at their balance sheet carrying amounts if all creditors were paid off |
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Term
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Definition
often used to gauge stock values.
Market Price/ Diluted Earnings |
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