However, formal psychometric analysis, called item analysis, is considered the most effective way to increase reliability. This analysis consists of computation of item difficulties and item discrimination indices, the latter index involving computat…
Relevant Cost Definition
Posted on Posted on: 19.08.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on Relevant Cost DefinitionIf a client wants a price quote for a special order, management only considers the variable costs to produce the goods, specifically material and labor costs. Fixed costs, such as a factory lease or manager salaries are irrelevant, because the firm h…
How Many Years of Experience to List on Your Resume
Posted on Posted on: 19.08.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on How Many Years of Experience to List on Your ResumeIt is a way in which there is a social networking embrace of a product. For example, the “Tweets” generated by a specific brand or product or being “liked” on Facebook are part of the social relevance that products are experiencing in terms of market…
Demonstrate the Relevance of the Topic: Public Speaking/Speech Communication
Posted on Posted on: 19.08.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on Demonstrate the Relevance of the Topic: Public Speaking/Speech CommunicationRELEVANCE CONCEPT refers to the capacity of accounting information to make a difference to the external decision makers who use financial reports. The main purpose offinancial accountingis to aid external users like investors and creditors in making …
Joint products – What are joint products?
Posted on Posted on: 18.08.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on Joint products – What are joint products?Sale value at splitoff isn’t affected by other production or costs after splitoff. A product’s sales value after separable costs have been incurred may be very different. If you spend time and money after the splitoff point, you charge a higher price…
Learn how to select the best performing linear regression for univariate models
Posted on Posted on: 18.08.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on Learn how to select the best performing linear regression for univariate modelsBecause most humans have a hard time visualizing four or more dimensions, there’s no good visual way to summarize all the information in a multiple regression with three or more independent variables. Another assumption of multiple regression is that…
Overview for Fit Regression Model
Posted on Posted on: 18.08.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on Overview for Fit Regression ModelR-squared (R2) is a statistical measure that represents the proportion of the variance for a dependent variable that’s explained by an independent variable or variables in a regression model. Whereas correlation explains the strength of the relations…
Redemption dictionary definition
Posted on Posted on: 18.08.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on Redemption dictionary definitionThe FASB is currently reconsidering the reporting of these gains and losses as extraordinary items. As a general rule of thumb in investing it’s best to diversify your assets as much as possible….
Advantages and Demerits of Activity Based Costing
Posted on Posted on: 18.08.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on Advantages and Demerits of Activity Based CostingABC is generally used as a tool for understanding product and customer cost and profitability based on the production or performing processes. As such, ABC has predominantly been used to support strategic decisions such as pricing, outsourcing, ident…
What Steps to Take Before Approving an Invoice for Payment
Posted on Posted on: 18.08.2020 Modified on: 11.01.2022Categories Bookkeeping 101 Leave a comment on What Steps to Take Before Approving an Invoice for PaymentHaving a standard procedure for approving invoices helps you avoid these costly mistakes. Having a streamlined process also lets you pay vendors and contractors faster, fostering goodwill and better business relationships….