Standards of Ethical Conduct
1.Competence- do job in compliance with laws of the landa.Never stop learning and being up to date
2.Confidentiality- THings are supposed to be kept within certain parties
3.Integrity – Have to avoid any real or apparent conflicts of interest
4.Credibility – Report information accurately, neutrally, and completely
5.Resolution of Ethical Conflict – can’t go over someone’s headThe Fraud Triangle
1.Opportunity
2.Pressure
3.Rationalization
SALES
–VC
CM (Contribution Margin)
– FC
INCOME
1. Find VC/unit (Change in cost)/(Change in Vol)= VC/Unit
2. Find Total VC (either volume)VC/unit * # units = Total VC
3. Find FC (same volume as 2) Total Cost = Total TC = FC
4. Repeat 2+3 at the other volume Hopefully get the same FC
TC = (VC/unit * #units) + FC
TR(Total Revenue) = SP(Selling Price)/unit * #units
TR-TC= Income
SP – VC = CM
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