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Cost Classification in Managerial Accounting

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Meaning of Cost As a noun the term cost refers to a measure of resources consumed or forgone in monetary terms. As a verb the term cost means to ascertain what the cost has been. Cost can be classified in several ways. For example, factory rent can be classified as a fixed cost (classification by behaviour) or as a production cost (classification by function) or as an indirect cost (classification by nature), etc. Cost Classification By Behavior 1. Variable costs These are costs that change in total as the level of activity changes. However, you must note that variable costs per unit remain constant. Examples of variable costs include the cost of raw materials which increases as more and more raw materials are being produced. 2. Fixed costs These are costs that do not change (remain constant) as the level of activity changes. Examples include rent, salaries and insurance. 3. Stepped fixed costs These are costs that remain fixed within a relevant range and outside that relevant range th...
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Basic Statistical Concepts

What is statistics? Statistics is defined as the science of learning from data, and of measuring, controlling, and communicating uncertainty; and it thereby provides the navigation essential for controlling the course of scientific and societal advance.  The objective of statistics is to make an inference about a population based on information contained in a sample taken from that population.  The theory of statistics is a theory of information concerned with quantifying information, designing experiments or procedures for data collection and analyzing data. The goal of statistics is to minimize the cost of a specified quantity of information and to use this information to make inferences. Statistics plays a pivotal role in economics, business, political, other social and natural sciences. The course is also applied in sports, military, among others. A person well versed in statistics is able to “play the background” to every profession by providing the necessary facts and fi...
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Atoms : Periodic Table, Isotopes, Atomic Structure, Electronic Structure, Ions

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Atoms The idea of an atom was first put forward by the Greek Philosophers in 400 BC. From their observations on the continuous chances that were taking place in the universe, the Greeks felt that there must be atoms that make up the universe. Unfortunately, this proposal was not backed by experimental data. As such, Scientists did not accept the proposal. The situation remained for nearly 2000 years when it was revived by another Scientist by the name of John Dalton. Atoms, are the smallest units into which matter can be divided without the release of electrically charged particles. It also is the smallest unit of matter that has the characteristic properties of a chemical element. An element contains only one type of atom and cannot be broken down into anything simpler through chemical reactions. Everything around us is made up of atoms. Atoms are made up of three types of subatomic particles called protons, neutrons, and electrons. The central part of an atom contains most of the mas...
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Comparison of the Financial System of Malawi and India

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Comparison of the Financial System of Malawi and India 1.0 Introduction A financial system consists of a set of markets, individuals and institutions which trade in those markets and the supervisory bodies responsible for their regulation (Howells et al, 2007). It includes financial markets, financial institutions, financial services and financial instruments which influence the generation of savings, investments, capital formation and growth. It facilitates the flow of funds from the areas of surplus to the areas of deficit. It is concerned about the money, credit and finance.  These three parts are very closely interrelated with each other and depend on each other. The main role of the financial system is to intermediate between those that provide funds and those that need funds, this typically involves managing and transforming risks. In any countries a financial system is the engine to economic growth and development hence it is of paramount important in policy implications. Go...
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Cowpea Cultivation Farming

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Cowpea Cultivation Farming Cowpea is commonly grown in dry lands of different countries around the globe and is one of the most important crops and it is gaining popularity across the world. Cowpeas are able to give better results in low rainfall areas and they are known to be drought tolerant unlike other crops. Cowpeas provide excellent human nutrition and has also a good rotational benefits. It can also be grown together with Maize (intercropping) and still achieve a better yields. This article will provide in detail on how to grow cowpeas as well as it management requirements. Key facts of Cowpeas It can be intercropped with cereal crops like Maize or be grown as pure stand. It is able to withstand adverse conditions and still gives a better yields and it's known to be drought resistant. It also performs well in a wide range of soils. It can be grown for dual purposes; Can be grown as a leafy vegetable and for its grain use. It's plant types can be categorized into three an...
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Dairy Production Farming

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Dairy Production Farming Dairy farming business is an enterprise established for the production and processing of milk for human consumption. It is one of the profitable agribusiness in the world. It is an expanding business. This article will take you through dairy production farming business. Breeds of Cows The following are breeds of dairy cattle. Holstein On average fully grown Holsteins weigh 625 kg (1,377 lbs) and are usually black and white. They give the most milk, fat, and protein. Jersey Jerseys are one of the smallest dairy breeds. On average, they weigh 450 kg and are light brown. Some Jersey dairy cows may have white spots too. These little cows pack a big butterfat and protein punch! Milking Shorthorn Milking Shorthorns are red, white, and brownish. Ayrshires Ayrshires are a little smaller than Holsteins and have red and white markings. They are characterized by light to deep cherry red with or without white markings on the body Guernseys Guernseys are recognized by their...
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How to Recover Hacked Facebook Account

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How to Recover Hacked Facebook Account Nowadays it is common to hair different Facebook users that their accounts have been hacked by scammers. With the coming in of modern technologies, hackers are coming up with different tactics which make them easily take control of different Facebook accounts for different users everyday. In most cases, the hackers upon taking off your account, they scam you or steal useful personal details you have. In some cases, they post different things, which were not supposed to be posted by you. When the hackers take a control of your Facebook account, they often move quickly to lock you out of a hacked Facebook account by changing your password and updating your phone number and email, so that you can’t access your login or 2FA codes. This article is for you if your Facebook account is hacked. We will guide you with step by step details on how you can have your hacked Facebook account back. Here are some of the most common warning signs which show your ac...
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14 Best Survey Sites to Make Money Online

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Best Survey Sites to Make Money Online Surveys are an easy way of earning money online. Participating in an online Surveys makes you get paid upon completion of certain tasks.  Different companies nowadays are looking for data which they collect online and use for marketing purposes, and other reasons depending on the company which is doing such Surveys. As of today, the internet is flooded with numerous companies looking for people to participate in online Surveys, for them to earn money in exchange for their participation in completing certain tasks.  Even though there are many companies looking for people to participate in different online Surveys, you should be on alert that, not each and every site looking for people to participate online Surveys is legit. Some sites use online collected data contrary to what they say they want to use it, and some are scammers. This article will uncover 14 legit sites you should go for to participate and get paid in online Surveys.  ...
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