Teaching Inventory Accounting: A Simple Learning Strategy to Achieve Student Understanding

2011 ◽  
Vol 26 (4) ◽  
pp. 835-844 ◽  
Author(s):  
Rochelle K. Greenberg ◽  
Neil A. Wilner

ABSTRACT This learning strategy offers an efficient and effective technique for teaching inventory in the introductory financial accounting course. It is motivated by the belief that many students memorize how to calculate the cost of goods sold and ending inventory under different cost flow assumptions, but that few understand the subject. This fundamental lack of understanding prohibits them from fully appreciating other issues, such as the difference between the physical flow and the cost flow assumption, the relevance of the cost flow assumption when computing cost of goods sold and income, and the irrelevance of the cost flow assumption when computing cash flow unless taxes are considered. Our learning strategy involves a convenience store selling three bottles of water. Inventory flow, cash flow, and the calculations of cost of goods sold, income, and ending inventory are illustrated under the first-in, first-out method; the last-in, first-out method; the weighted-average method; and specific identification.

2018 ◽  
pp. 245
Author(s):  
I Kadek Agus Setiawan ◽  
Putu Ery Setiawan

Taxes as a source of state revenues are used as a source of funds for governments for national development and measuring instruments to regulate government policies. Taxation or tax review is a measure of all company transactions to calculate the amount of tax payable and predict potential taxes that may arise under applicable tax laws and regulations. This research was conducted at PT. KBIC which is engaged in cargo of Tax Year 2015. The purpose of this study is to determine the effect of the implementation of tax review of corporate income tax and value added tax. The method used in this research is descriptive comparative. Comparing the results of tax reporting by the company with the calculation of Corporate Income Tax and Value Added Tax at PT. KBIC tax year 2015 from the researcher in accordance with the applicable tax provisions in Indonesia. Based on the results of the research, the tax review of the Corporate Income Tax has found differences in the fiscal reconciliation report on the Office of Travel and Phone Charge accounts. Taxpayers make 100% corrections of the cost of mobile phones. It should be corrected cost of 50% of the cost should be. On the company's travel account, the company can not show the official report or notes in the assignment explaining the subject or purpose of the Overseas official's travel related to the company's principal activity that causes the difference of tax correction between the taxpayer and the researcher. Tax review conducted on Value Added Tax, the taxpayer has reported the fiscal reconciliation report correctly and there is no mistake.


2021 ◽  
Vol 2021 (5) ◽  
pp. 97-110
Author(s):  
Anatolii NYKYFOROV ◽  

The article is devoted to the topical issues of determining the budget effectiveness of the use of tax incentives for innovation. The conceptual difference between “budgetary effect” and “budget efficiency” has been defined. A reasonable criterion of the budgetary effect, which is proposed to calculate as the difference between financial results of innovation and expenditures (temporary budget losses) to stimulate innovation. The method of justifying the budgetary effect of tax incentives for innovation by applying an increased standard of write-offs on the cost of spending on scientific and scientific and technical works has been proposed. The proposed methodology uses a recursive model for calculating tax revenues starting with the development of innovative products, which occurs as a result of the reinvestment by the subject of innovation in the first stage – savings from tax cuts, in the second and subsequent stages – the said savings and part of the increase in profits. The increments of investment resources of the subject of innovation and budget revenues are determined taking into account the factor of time of their receipt by the method of discounting. The budgetary effect is proposed to assess during the regulatory period of return on investment. The article contains a logical illustration of the recursive model of tax revenues and the calculation formula. Based on the data of the innovative enterprise, the indicators of the budget effect, the internal rate of budget revenue and the payback period of its losses, which arise due to the introduction of an increased rate of write-off for the cost of scientific and scientific-technical works have been calculated . It is recommended when making decisions on the feasibility of tax incentives for innovation to take into account the stimulating function of taxes, which is manifested in increased motivation of entrepreneurs to innovate. Keywords: taxes, tax policy, innovation, budget efficiency.


2019 ◽  
Vol 3 (02) ◽  
pp. 148-159
Author(s):  
Neng Silvia

Student Team Achievement Division (STAD) techniques is a cooperative learning strategy in which learners work in heterogenous groups to achieve a common goal. This research aimed to identity the effectivieness Student Team Achievement Division (STAD) techniques in developing the skill of written expression and to identity the importance of the skill of written expression for female student. The study implemented quantitative approach or experimental approach. The researcher prepared a questionnaire skill of written expression. Then the researcher applied the pre-test and post-test to the subject of this research, and they were thirty students from the different academic achievement. The sample was distributed into two groups, fifteen students were in the experimental group while fifteen students were in the control group. The study found the result: The first result was the targets of the skill of written expression are ten importance targets. And the second one showed the difference result between the scores of experimental group when used the STAD cooperating learning and the scores of control group who studied by the traditional teaching method. The effects showed that the scores of experimental groups was better than the other.


2018 ◽  
Vol 11 (3) ◽  
pp. 83-88 ◽  
Author(s):  
V. V. Grigoryev

The paper examines two main methods of the discount rate calculation for business valuation: cumulative and weighted average capital cost (WACC), discloses the importance of business valuation for improving the business activity of a company, proposes the principles of the discount rate calculation, examines ways to determine additional risks in the implementation of the cumulative method, and analyzes the costs of the equity and borrowed capital in the implementation of the WACC method. The purpose of the research was to perform a comprehensive analysis of the methods for calculating cash flow discount rates for equity capital and for all invested capital. The research resulted in the development of methods for measuring additional risks in the calculation of the cash flow discount rate for equity and identifying risks in the calculation of the weighted average discount rate of the cash flow for the total invested capital. The research findings can be used for boosting business activities as well as for business valuation and management. It is concluded that every percent of additional risk in the discount rate calculation increases the size of the rate and reduces the cost of a valuated business.


2017 ◽  
Vol 8 (4) ◽  
pp. 107
Author(s):  
Joao Marques Silva ◽  
Jose Azevedo Pereira

Valuation based on DCF (Discounted Cash Flow) has been the dominant valuation procedure during the last decades. In spite of this dominance, enterprise valuation using the discounted FCF (Free Cash Flow) model has some practical drawbacks, since there is often some confusion on how to effectively use it. Commonly, the valuation procedures start by estimating future FCF figures from historical data, such as mean FCF, growth and retention ratio, alongside many other variables. These FCF forecasts are discounted at the cost of equity (FCFE – FCF to Equity) or the Weighted Average Cost of Capital WACC (FCFF – FCF to Firm). Implicit in the above mentioned valuation procedures is the expectation that the company puts the retained free cash that is generating to good use, yielding a value capable of rewarding appropriately the level of risk inherent in the way it used. Some poorly performed valuation studies however tend to double count (Damodaran, 2006a) the retained cash’s interest in subsequent values of FCF, or include the accumulated cash build-up in the Terminal Value. This paper discusses how these two common double-counting mistakes are made and evaluates their weight in the final valuation figure for the particular case of retained FCFE (the case for the FCFF is analogous, but we focus on FCFE for simplicity) using projected figures.


2013 ◽  
Vol 20 (5) ◽  
pp. 669-682 ◽  
Author(s):  
M. Buehner ◽  
J. Morneau ◽  
C. Charette

Abstract. The goal of this study is to evaluate a version of the ensemble-variational data assimilation approach (EnVar) for possible replacement of 4D-Var at Environment Canada for global deterministic weather prediction. This implementation of EnVar relies on 4-D ensemble covariances, obtained from an ensemble Kalman filter, that are combined in a vertically dependent weighted average with simple static covariances. Verification results are presented from a set of data assimilation experiments over two separate 6-week periods that used assimilated observations and model configuration very similar to the currently operational system. To help interpret the comparison of EnVar versus 4D-Var, additional experiments using 3D-Var and a version of EnVar with only 3-D ensemble covariances are also evaluated. To improve the rate of convergence for all approaches evaluated (including EnVar), an estimate of the cost function Hessian generated by the quasi-Newton minimization algorithm is cycled from one analysis to the next. Analyses from EnVar (with 4-D ensemble covariances) nearly always produce improved, and never degraded, forecasts when compared with 3D-Var. Comparisons with 4D-Var show that forecasts from EnVar analyses have either similar or better scores in the troposphere of the tropics and the winter extra-tropical region. However, in the summer extra-tropical region the medium-range forecasts from EnVar have either similar or worse scores than 4D-Var in the troposphere. In contrast, the 6 h forecasts from EnVar are significantly better than 4D-Var relative to radiosonde observations for both periods and in all regions. The use of 4-D versus 3-D ensemble covariances only results in small improvements in forecast quality. By contrast, the improvements from using 4D-Var versus 3D-Var are much larger. Measurement of the fit of the background and analyzed states to the observations suggests that EnVar and 4D-Var can both make better use of observations distributed over time than 3D-Var. In summary, the results from this study suggest that the EnVar approach is a viable alternative to 4D-Var, especially when the simplicity and computational efficiency of EnVar are considered. Additional research is required to understand the seasonal dependence of the difference in forecast quality between EnVar and 4D-Var in the extra-tropics.


2013 ◽  
Vol 8 (4) ◽  
Author(s):  
Mizaco Ofayda Darmawan ◽  
Agus Toni Poputra ◽  
Winston Pontoh

Statement of Financial Accounting Standards (SFAS) number 1 and 2 states that financial statements should present fairly the financial position, financial performance, changes in equity and cash flow. Companies to implement SFAS correctly with the required disclosures in the Notes to the Financial Statements. Objects in this research is PT.Multisarana Bahteramandiri. The purpose of this study is to analyze the financial statement presentation PT.Multisarana Bahteramandiri under SFAS Number 1 and 2. The method used is descriptive analysis method is an analytical tool that compares two different aspects of theory and practice that need to be met in order to know the difference, as far as what the difference is. Results of the analysis of these data showed that PT.Multisarana Bahteraamandiri not fully implemented SFAS number 1 and 2 in the company's financial statement presentation. Because the company only present a statements of financial position, income statement, cash flow statement, as well as company-specific notes. The company also not disclose a statement of compliance with the Statement of Financial Accounting Standards (SFAS) number 1 and 2 in the notes to financial statements.


Author(s):  
Sofyan Nur Hidayat ◽  
Lindrianasari Lindrianasari ◽  
Rindu Rika Gamayuni

This study aims to determine if there are differences in environmental costs in mining companies before and after the publication of Indonesian Financial Accounting Standards PPSAK No. 12 on 2014 concerning stripping activities and environmental management. The study was conducted on all mining companies listed on the Indonesian Stock Exchange, a research sample of 26 companies. Data were analyzed using Paired-samples T Test. This study shows empirical evidence that there are differences between the peeling cost and environmental management cost variables before applying PPSAK No. 12 on 2014 with the cost of peeling and environmental management costs after applying PPSAK No. 12 from 2014.


2021 ◽  
Vol 13 (20) ◽  
pp. 11305
Author(s):  
Mahir Msawil ◽  
Faris Elghaish ◽  
Krisanthi Seneviratne ◽  
Stephen McIlwaine

Forecasting the cash flow for infrastructure projects has not received much attention in the existing models. Moreover, disregarding the cost flow behaviour and proposing models that entail a relatively high dimensionality of inputs have been the main drawbacks of the existing models. This study proposes a heuristic cash flow forecasting (CFF) model for infrastructure projects, and it explores the underlying behaviour of the cost flow. The proposed model was validated by adopting a case study approach,the actual cost flow datasets were mined from a verified data system. The results invalidated the employment of a dominant heuristic rule with regard to a cost-flow-time relationship in infrastructure projects. On the other hand, a mathematical parameter-based comparison between the trends analysed from previous studies revealed that the cost flows of infrastructure projects procured through a design-bid-build (D-B-B) route behaved in a similar manner to building projects procured through a construction management route. This research contributes to the body of knowledge providing a method to enable infrastructure contractors to accurately forecast the required working capital through adding a new dimension for project classification by coining the term “the quaternary flow percentage”. In addition, this study indicates the importance of identifying the impact of root risks on the individual cost flow components rather than on the aggregated cost flow, which is a recommendation for future research.


2020 ◽  
Vol 7 (1) ◽  
pp. 29-40
Author(s):  
Nur Syafiqah Hussin ◽  
Naqiah Awang ◽  
Farah Husna Mohd Fatzel

Covid-19 is an unprecedented crisis that has affected almost all industry players including education. It has transformed our way of life and introduced a new normal to how things are done. As an effort to contain the outbreak of pandemic Covid-19, universities have shifted to online learning. In line with this, Universiti Teknologi MARA (UiTM) has decided to execute open and distance learning (ODL) for the current semester until 31 December 2020. ODL introduces a different learning environment as compared to the traditional classroom that requires students to be self-reliant in learning new things. Hence, the purpose of the study is to explore students’ experiences in the process of knowledge transfer through ODL specifically for accounting subjects. A questionnaire was distributed to students who were taking the subject of Introduction to Financial Accounting and Introduction to Cost Accounting in UiTM Pahang Kampus Raub and a total of 206 responses were received. The study found over half of the students enjoy learning through ODL but only one-third were looking forward to having ODL for the next semester. Poor internet connection is the main reason found in the study that makes ODL not preferred by the students. At the same time, few features were highlighted by the students about ODL such as the advantage of pre-recorded video to catch up the new material and flexibility for them to learn at their own pace.


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