Confirmation on Cost Component Class anv COA

Thanks to you for your observation. We have add only Two Inventory Organization i.e. Oncology General Manufacturing Facility and General Manufacturing Facility. Please see the attach and review the file and share with us if we miss anything.

Hope you are doing well. You have send Four emails which contain separate GRN No (GRN No. -32276 and GRN No. -32568) with separate RA No and so on. Please ensure which email we will consider and for your kind information that this type of correction is effect in Monthly stock Report which is related with multiple division/Department like Planning/Purchasing/Warehouse/Finance.

Please be informed of the following Product Cost based on the Standards 2014. Previous cost info given to you on 18-12-2013 was based on 3 Cycles on 3 individual IFC under an MFC but which should have been 3 cycles on a single IFC what the FLP did not disclose. Sitting with QAD, the facts have become clear and the COGS has been revised accordingly.


Request to please provide your confirmation on Cost Component Class as attached, before we move it in the new system.Please sit together to confirm that COA heads are aligned with plantwise cost centres. Also work together to make a realistic solution for joint production overhead allocation.

Couple of requirements with some technical difficulties

It is good to see your feedback. I can interpret the following :

1. All the CFO’s requirements had been already part of the UAT Scenarios document.

2. There are only couple of requirement where there are some technical difficulties. The remaining are already taken care of.

Let us just focus on those couple of requirements where there are some technical difficulties, according to Finance Team. Let us focus on those requirements and get it through so that we can complete Finance UAT satisfying CFO’s requirements. If there are any queries, let me know.


Yes, most of them are part of our existing UAT scenario list. However, couple of them are dependent on KPMG Consultants direct supervision. Thanks for your inputs on the cost codes during yesterday's session.

Attaching the cost code template for your kind review (Location, Department and LOB codes). Please do let me know if changes are required. Request you to review the sheet as payroll costing will be done based on the finalized values.

Please put your contributions as KPMG Consultants deserved from you and also it is your own preparation for costing in near future. Hope your attention and final feedback towards Payroll module should quick. Your nice co operations are always appreciated.

Scenario mentioned by the Cost Manager of the Parent Company

With reference to one of the scenario mentioned by Costing Manager, there are certain products of company “X” for which Parent Company is tolling the product. To accommodate this scenario and avoid the costing impact for Parent products we will have to create different item codes for tolling scenarios. Kindly consider this and we will provide the details for the ingredients and products.


Kindly select a tolling product and give the details to Supply Chain Manager-SCM for the creation of new Item codes.

In the last few days , I have observed that certain new scenarios about the ITEM MASTER has been brought to our notice. Let me know if you want me to call for an hour meeting tomorrow to discuss all the consolidated scenarios together so that we can accommodate them and finally roll-up the ITEM MASTER one final time.

I will request you to schedule the above meeting tomorrow , between 12.00 noon to 01.30 pm , in IBD-1st floor.

Within your busy ERP schedules, Please include these following NEW products in MIS Costing Module. Starred are important than non starred.Please send me the costing for Garlic oil capsule as per the attached data.

Feel free to inform me if anything else is required for your costing.Thanks in advance.

Logic behind Assigning Resource Code in ERP

A meeting has been scheduled to discuss the following issue namely “Assigning Resource Code” on the 9th April, 2013 (Tuesday) from 10:00AM – 12:30PM at the 1st floor project room (IBD). Please forward this email to others concerned for invitation. Looking forward to see you in the discussion session.

Please note that your presence is absolutely crucial.

The engineering department just informed us that a damage has occurred in the water pipes at the General plant. Until the pipes are repaired, the Head Office will remain cut off from the main supply of water and will, therefore, have to rely on the limited water stored in the reservoir. Employees are requested to economize the use of all tap water until the problem is resolved. 

 

Enclosed, please find herewith the list of materials which will be expire from April to August, 2013. Also, included of March'13 which materials have already been  expired.

What is meant by impression management?

Impression management is an attempt by an individual to manipulate or control the impression that others form about them. 

The five common impression management tactics are 

1. self-promotion, 
2. ingratiation, 
3. intimidation, 
4. supplication, and  
5. exemplification.

Explain how attributions influence behavior.



Attribution deals with the perceived causes of behavior. People infer causes for the behavior of others, and their perceptions of why certain behaviors occur influence their own subsequent behavioral responses and feelings. Whether behavior is internally caused by the nature of the person or externally caused by circumstances is an important attribution that people make about the behaviors of others. 

 

Individuals also make attributions concerning task success and failure that have important implications for organizational behavior.

Law regarding Appointment of Directors by Directors

 The directors of a company may appoint directors- As Additional Directors (Sec. 260) Any additional
directors appointed by the directors shall hold office only up to the date of the next annual general meeting of the company. The number of directors and additional directors must not exceed the maximum strength fixed for the Board by the Articles [Patrakola Tea Co; Re, A.I.R.(1967) Cal. 406]

If the annual general meeting of a company is not held or cannot be held, the additional director shall vacate his office on the day on which the annual general meeting should have been held.

If an additional director has been appointed as managing director also, the moment he ceases to be an additional director, he will cease to be the managing director.

· In a casual vacancy (Sec. 262) In the case of a public company, or a private company which is a subsidiary of a public company, if the office of any director appointed by the company in general meeting is vacated before his term of office expires in the normal course, the resulting casual vacancy may be filled by the board of directors subject to any regulations in the Articles of the Company. By ‘ casual vacancy’ is meant any vacancy, which occurs by reason of death, resignation, disqualification, or failure of an elected director to accept the office for any reason other than retirement, by rotation. A vacancy caused by the retirement of a director by rotation is not a casual vacancy. Such a vacancy has to be filled by the annual general meeting.

· As alternate director (Sec.313) An alternate director can be appointed by the board if it is so authorized by (i) the articles of the company, or (ii) a resolution passed by the company in the general meeting.

He shall act for a director called the original director during his absence for a period of at least 3 months form the state in which board meetings are ordinarily held.

Top 10 Digital Cameras in my review

Compact products comprise two missions to accomplish: Fashion and function. These plans are compact an adequate amount to fit into a pinch or small purse, yet powerful an adequate amount to take elevated quality photos. These compact digital cameras are moderately priced and by far the mainly admired image capturing plans on the souk.

• Olympus Stylus XZ-2
• Canon Powershot G15
• Nikon Coolpix P330
• Fujifilm X100s
• Sony Cyber-shot RX100 II
• Fujifilm X20
• Ricoh GR
• Nikon Coolpix P7700
• Canon Powershot S100
• Panasonic Lumix LX7

Design
A compact digital camera wouldn't be considered smooth and slim if it was the size and influence of a brick. These products are admired for the reason that they are compact; therefore, the lighter and more powerful the device, the better it is.

Image Quality
There are numerous skin found on image capturing plans to enhance its image quality. Some of these include digital zoom and a elevated focus range. The steadfastness is individual issue to is life-threatening on behalf of the image quality of the device. The steadfastness in these plans is measured in megapixels. The more megapixels these products comprise, the clearer the urbanized photographs. Another hefty quality found on these plans to enhance image quality is the optical zoom. The optical zoom moving parts the same as zoom on a standard 35mm camera. The senior the optical zoom the farther away from the object you can be and still develop a empty picture. Don't develop this perplexed with digital zoom.

Features
Certain skin can be the deciding issue of whether or not you procure the camera. All of the digital cameras we reviewed had the mainly critical skin: An image stabilizer, red eye reduction, unbroken shooting options, a self timer and atypical color belongings. Many cameras comprise more difficult skin to give permission you edit and organize your photos on your camera. Some our favorite skin include expression recognition, pet detection, simple tangle uploading and GPS Geotagging.

Battery Life/Memory
We all hate changing batteries in electronic plans. So, needless to say, these compact products with longer battery life are better, and will save money in the long run. Also, built-in recollection is rarely ideas of as critical until the date you need it. Built-in recollection is your plans back up intend if your recollection tag or stick is extensive, lost or damaged.

If you aim high-quality photos of folks dealings to are hefty to you, a combination of these skin will provide the most excellent experience using a compact digital camera.

Advantages of Statistical Sampling in Auditing?

The advantages of statistical sampling may be summarized as follows -

1. The amount of testing (sample size) does not increase in proportion to the increase in the size of the area (universe) tested.

2. The sample selection is more objective and thereby more defensible.

3. The method provides a means of estimating the minimum sample size associated with a specified risk and precision.

4. It provides a means for deriving a “calculated risk” and corresponding precision (sampling error) i.e. the probable difference in result due to the use of a sample in lieu of examining all the records in the group (universe), using the same audit procedures.

5. It may provide a better description of a large mass of data than a complete examination of all the data, since non-sampling errors such as processing and clerical mistakes are not as large.

Under some audit circumstances, statistical sampling methods may not be appropriate. The auditor should not attempt to use statistical sampling when another approach is either necessary or will provide satisfactory information in less time or with less effort, for instance when exact accuracy is required or in case of legal requirements etc.

What are the methods of Statistical Sampling in Auditing?

As per SA 530, “Audit Sampling”, the auditor should select sample items in such a way that the sample can be expected to be representative of the population. This requires that all items in the population have an opportunity of being selected. There are two major methods in which the size of the sample and the selection of individual items of the sample are determined. These methods are : (1) judgmental

sampling; and (2) statistical sampling.

Whatever may be the method, judgmental or statistical sampling, the sample must be representative. This means that it must be closely similar to the whole population although not necessarily exactly the same. The sample must be large enough to provide statistically meaningful results.

Judgmental Sampling : Under this method, the sample size and its composition are determined on the basis of the personal experience and knowledge of the auditor. This method has been in common application for many years because of its simplicity in operation. Traditionally, the auditor on the basis of his personal experience, will determine the size of the sample and express it in terms that number of pages or personal accounts in the purchases or sales ledger to be checked. For example, March, June and September may be selected in year one and different months would be selected in the next year. An attempt would be made to avoid establishing a pattern of selection year after year to maintain an element of surprise as to what the auditor is going to check. It is a common practice to check large number of items towards the close of the year so that the adequacy of cut-off procedures can also be determined.

The judgmental sampling is criticized on the grounds that it is neither objective nor scientific. The expected degree of objective cannot be assured in judgmental sampling because the risk of personal bias in selection of sample items cannot be eliminated. The closeness of the qualities projected by the sample results with that of the whole population cannot be measured because the sample has not been selected in accordance with the mathematically based statistical techniques. However, it may be stated that the auditor with his experience and knowledge of the client’s business can evaluate accurately enough the sample findings to make audit decision and the mathematical proof of accuracy in some cases may be a luxury which the auditor cannot afford. In judgmental sampling the auditor’s opinion determines the sample size but it cannot be measured how far the sample size would fulfill the audit objective. In statistical sampling, the sample results are measurable as to the adequacy and reliability of the audit objectives.

Statistical Sampling : Statistical sampling is a method of audit testing which is more scientific than testing based entirely on the auditor’s own judgment because it involves use of mathematical laws of probability in determining the appropriate sample size in varying circumstances. Statistical sampling has reasonably wide application where a population to be tested consists of a large number of similar items and more in the case of transactions involving compliance testing, debtors’ confirmation, payroll checking, vouching of invoices and petty cash vouchers. Students may note that it is unnecessary for the auditor to gain in depth knowledge of statistics before making use of statistical sampling for audit testing since published statistical tables are available which indicate the sample size based on predetermined criteria.