Thursday, May 21, 2015

*** What are the difference between Government organization and non-profit organization?

The difference between Government organization and non-profit organization are describing bellow…….
Non-profit organization:
A non-profit organization is formed for the purpose of serving public or mutual benefit other then the pursuit or accumulation of profit for owner or investor. A non-profit sector is a collection of entities that are organizations; privet opposed to governmental; non-profit distributing; self governing; voluntary; and of public benefit. The non-profit sector is often referred to as the third, independent sector, voluntary sector, philanthropic sector, social sector, tax-exempt sector, or the charitable sector.
Non-profit organizations are usually classified as either member serving (addressing the needs of only a select number of individuals) or public. They take many forms:

Charities:

ð Bangladesh Red Crescent Society (BDRCS)

ð Bangladesh National Cadet Corps (BNCC)

ð Bangladesh Nari Progati Sangha (BNPS)

ð UNICEF

 

Foundation:
          ð HOPE Foundation for Women and Children of Bangladesh
          ð Bangladesh Freedom Foundation
          ð The Asia Foundation
          ð Bangladesh Ngo Foundation
  
Social Welfare or Advocacy Organizations: 

ð Bandhu Social Welfare Society (BSWS) 

ð Bangladesh Rural Advancement Committee (BRAC) 

ð United Nations Development Programme (UNDP)



Government Organization or Agency:
A government or state agency, often an appointed commission, is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types. Although usage differs, a government agency is normally distinct both from a department or ministry, and other types of public body established by government. The functions of an agency are normally executive in character, since different types of organizations (such as commissions) are most often constituted in an advisory role—this distinction is often blurred in practice however.
A government agency may be established by either a national government or a state government within a federal system. The term is not normally used for an organization created by the powers of a local government body. Agencies can be established by legislation or by executive powers. The autonomy, independence and accountability of government agencies also vary widely.
 There are so many government organizations. Some of these are describe bellow….
ð Bangladesh Rail Way
ð Bangladesh Bank
ð Educational Institute
ð Medical Service, etc.
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Wednesday, March 4, 2015

Flora Computers-Cost of Production Report


Question-ACN

Flora Computers
Production Department
                                        Cost of Production Report                                       
Quantity Scheduled
Amount
Amount
Unites started in process
Unites transferred to next department
Unites still in process
Unites lost in process

45,000/=
4,000/=
1,000/=
50,000/=
=======

Total
50,000/=
=======

Cost charged to the department
Total Cost
Unit cost
Cost added by department:

Materials
Labor
Factory overhead


24,500/=
30,000/=
2550/=

0.50
0.638
0.542
Cost to be accounted for
80,000/=
=======
1.68
=====

Cost Accounted for as follows
Amount
Amount
Transferred to next department (45,000×1.68)
Work in process-Ending inventory:

Materials (4,000×0.5)
Labor  (4,000×1/2×0.638)
Factory overhead (4,000×1/2×0.542)



2,000/=
1,276/=
1,084/=
75,600/=







4360/=
Total
79,960/=
======

Flora Computers
Tasting Department
Cost of Production Report
Quantity Scheduled
Amount
Amount
Unites received from preceding department
Unites transferred to next department
Unites still in process
Unites lost in process

40,000/=
3,000/=
2,000/=
45,000/=
=======

Total
45,000/=
=======

Cost charged to the department
Total Cost
Unit cost
Transferred in during the month(45,000)
Materials
Labor
Factory overhead
75,600/=
15,500/=
37,000/=
30,500/=
1.68
0.36
0.902
0.743
Total cost added
Adjustment from lost unit
83,000/=
------------
2.105
0.078
Total cost to be accounted for
1,58,600/=
========
3.763
=====

Cost Accounted for as follows
Amount
Amount
Transferred to next department (40,000×3.763)
Work in process-Ending inventory:
Materials (3,000×0.36)
Labor  (3,000×1/3×0.902)
Factory overhead (3,000×1/3×0.743)
Adjusted cost from preceding department-
[3,000×(1.68+0.078)]



1,080/=
902/=
743/=

5,274/=
1,50,520/=








7,999/=
Total
1,58,519/=
========


Flora Computers
Terminal Department
Cost of Production Report
Quantity Scheduled
Amount
Amount
Unites received from preceding department
Unites transferred to next department
Unites still in process
Unites lost in process

35,000/=
4,000/=
1,000/=
40,000/=
=======

Total
40,000/=
=======

Cost charged to the department
Total Cost
Unit cost
Cost from preceding department:
Transferred in during the month(40,000 unites) 
Materials
Labor
Factory overhead

1,50,520/=
=========
10,000/=
32,500/=
20,000/=

3.763
=====
0.256
0.902
0.555
Total cost added
Adjustment from lost unit
62,500/=
------------
1.713
0.096
Total cost to be accounted for
2,13,020/=
========
5.572
=====

Cost Accounted for as follows
Amount
Amount
Transferred to finished goods storeroom (35,000×5.572)
Work in process-Ending inventory:
Adjusted cost from preceding department-
[4,000×(3.763+0.096)]
Materials (4,000×0.256)
Labor  (4,000×1/4×0.902)
Factory overhead (4,000×1/4×0.555)




15,436/=
1,024/=
902/=
555/=
-------------
1,95,020/=








17,917/=
Total
2,12,937/=
========

Journal

(1)
Transaction
Dr
Cr.
Work in process production Department                         
Work in process testing Department                                
Work in process terminal Department                             
Materials          
(To closed materials used in production)                                                                  
24,500/=
15,500/=
10,000/=



50,000/=
Work in process production Department                          
Work in process testing Department                                 
Work in process terminal Department Labor
(To closed labor  used in production )
30,000/=
37,000/=
32,500/=



99,500/=
Work in process production Department                          
Work in process testing Department                                 
Work in process terminal Department    
Factory overhead 
(To closed factory overhead used in production)      
                                                                           
25,500/=
30,500/=
20,000/=




76,000/=
(2)
Transaction
Dr
Cr.
Work in process testing department                                        
Work in process production department        
(To transferred cost of production Department to testing Department) 
75,600/=


75,600/=
Work in process terminal Department
Work in process testing Department                                                          
(To transferred cost of testing Department to terminal Department)   
1,50,520/=


1,50,520/=
Finished goods inventory 
Work in process terminal Department                                                         
(To transferred cost of terminal Department to finished goods inventory)
1,95,020/=


1,95,020/=