By Jae K. Shim
Have you ever lately been promoted? Are you beginning a brand new enterprise? Do you abruptly locate it's essential comprehend extra approximately funds than you ever anticipated, yet haven't any time for formal education? if that is so, you would like Accounting and Finance for the Non-Financial govt. even if you're a newly promoted heart supervisor or govt, a advertising supervisor of a small corporation, an entrepreneur, or personal your individual enterprise, your effects should be measured in cash and cents. you must recognize the fundamentals of finance and accounting to make sound company judgements and develop into successful.Shim exhibits you the ideas for comparing funding judgements similar to go back on funding research. you'll discover what you must comprehend, what to invite, which instruments are very important, what to appear for, what to do, and the way to do it. effortless to learn and necessary, the e-book provides many functional examples, illustrations, guidance, measures, ideas of thumb, graphs, diagrams, and tables that make comprehending the topic easy.Accounting and Finance for the Non-Financial govt prepares you for extra managerial obligations. you can be higher outfitted to arrange, appraise, assessment, and approve plans to complete departmental goals. it is possible for you to to again up your thoughts with rigorously ready monetary aid. whether or not they are in accordance with advertising, construction, or body of workers, by means of studying how one can imagine when it comes to finance and accounting you could intelligently exhibit your principles.
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Extra info for Accounting and Finance for the NonFinancial Executive: An Integrated Resource Management Guide for the 21st Century
5 SEGREGATING FIXED COST AND VARIABLE COST If you know the total cost you can determine the ﬁxed and variable costs using the high-low method. The variable cost per unit may be computed by comparing the change in expense between high and low levels with the change in volume. 3 — Your company reached its sales volume high in May. The lowest volume occurred in February. 10. You can now determine the ﬁxed portion of the expense using either the lowest or highest volume level. 6 COST ALLOCATION Cost allocation assigns a common cost to two or more departments.
Thus, a 20% increase in variable cost accompanies a 20% increase in sales. Semivariable (mixed) costs include the costs that are part ﬁxed and part variable. A semivariable cost varies with changes in volume but, unlike a variable cost, does not vary in direct proportion. Such examples include telephone bills, electricity bills, and car rentals charged as ﬁxed rental fees plus variable mileage fees. The breakdown of costs into their variable and ﬁxed components is important in many areas, including ﬂexible budgeting, break-even analysis, and short-term decision making.
50). Idle capacity exists. A potential customer is willing to purchase 500 units at $21 per unit. The contribution margin income statement for this special order would be as follows: Sales (500 × $21) Less: Variable cost (500 × $15) Contribution Margin Less: Fixed cost Net Income $ 10,500 7,500 $ 3,000 0 $ 3,000 You should accept this order because it increases your proﬁtability. If idle capacity exists, the acceptance of an additional order does not increase ﬁxed cost. However, even if ﬁxed costs were to increase, say, by $1,200 to buy a special tool for this job, it still would be ﬁnancially attractive to accept this order because you would still realize a proﬁt of $1,800 ($3,000 - $1,200).
Accounting and Finance for the NonFinancial Executive: An Integrated Resource Management Guide for the 21st Century by Jae K. Shim