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Group Bonus Plan
There are specific operations or jobs that require to be done collectively via a group of workers, as an example of, continuous production work flows in assembly a or in sequence work of computers, televisions or radio. A team of workers is engaged in several operations and as such, it becomes essential to introduce bonus schemes for collective efficiency of the group as a whole and the intention is to make a collective interest in the work. In this case, the bonus is shared with the members. The proportionate share may depend on a number of factors, as like an example, the level of employee in management structure, the department whether the employee falls, his recent salary and so on.
Both the parts, Profit and Loss Account and Trading Account of last account are interdependent upon each other. Gross Profit or loss plays a very important role in the calculation
Budgetary Planning and Control - Accounting Techniques A budget is a plan of action expressed in monetary terms. Therefore it is a quantified plan of what one intends to do.
WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS
ADVANTAGES OF COST ACCOUNTING 1. It helps in efficient decision making. 2. It assists in cost drop. 3. It is useful in obsession of selling price
The follow data relates ot year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dire
Example of Flexible and Fixed Budget A company has budgeted to produce and sell 100,000 units of cakes throughout the next period. The selling price per cake is Sh. 20 and var
1. The Initial Borrowings required are determined by the amount required to start the project less the Cash Invested by the Corporation. The loans will always be principle & inte
1. Issuance of stock Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases: a. Jacks
Develop costing for the production units to explain the manufacturing expenses that the proposed product will require for the first year of production. This portion requires the fo
The beginning inventory balances of Item X on August 1 and the purchases of the item during the month of August were as follows: August 1 Beginning Inventory 600 units @ $10.00
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