standard (¡êcompleted-contract method; not applying in financial accounting standards.)
▶When - The case that could assume a conclusion of construction contract in financial accounting standards.
▶Condition – The contract revenue and cost price related in construction contract are recognized by progress rate of present contract activity in the end of reporting period.
▶Types
international standard planning to expand it's business abroad. Second, Orion evaluates and supplements its own system by comparing with AIB.
2) OPIS (Orion Production Information System)
To improve the efficiency in controlling product quality, Orion uses the OPIS system that collects all the relating data into one spot. Orion conducts it's own audit asides from AIB by quarterly. This i
CASE 4
Part 1:
A. Describe the cost flow assumptions used in average cost, FIFO and LIFO methods of inventory valuation.
-The average cost method assumes cost of goods sold and ending inventory consist of a mixture of all the goods available for sale. The average unit cost applied to goods sold or to ending inventory is not simply an average of the various unit costs of purchases during the pe
internet as a medium to provide appropriate service contents to target customers. It also effectively adapts to rapidly changing external factors, constantly updating its service contents and systems to gain competitive advantage. However, it shows great weakness when it comes to the adult education industry, and requires more information and systems that will help the company to increases its cu