This fixed asset will give insight for Longhaul Carriers, owned by Jimmy Mavela. Longhaul Carriers is a transport company that transport goods between Durban and Johannesburg. The company has three heavy-duty trucks and employs three drivers who either work day or night shifts. This report will cover fair remuneration for drivers, working hours, maximise earnings, profitability and effective control for the future of Longhaul Carriers. Fair remuneration for drivers Calculations:Drivers remuneration per round trip x Average number of round trips made per week / Average number of hours each round trip takes | Truck 1:500 x 4 =R2000/15=R133.33 p/h | Truck 2:450 x 7=R3150/10=R315 p/h | Truck 3:550 x 6=R3300/13=R253.85 p/h | According …show more content…
I would advise Jimmy to sell his third truck and just work with the two trucks because this is just bringing a loss to Longhaul Carriers. Effective control for the future Fixed assets represent a large amount of funding so it is important to have controls in place to ensure they are used properly and for the purposes of the organisation. * Jimmy’s fixed assets should be correctly recorded, secured and properly maintained. * Acquisitions and disposals of fixed assets should be properly authorised. * Acquisitions and disposals of fixed assets should take place at the best price possible. * Fixed assets should be properly recorded, appropriately depreciated, and written down where necessary. * Annual capital expenditure budgets They should be prepared by someone directly responsible to the board. If acceptable, they should be agreed by the board and minuted. * Applications for authority to incur capital expenditure These should be submitted to the board for approval and should contain reasons for the expenditure and estimated cost. A document should show what is to be acquired, and be signed as authorised by the board or an authorised official. * Register of fixed assets A register of fixed assets should be maintained for each major group of assets.
this is done. The head teacher or another member of the senior management team will draw up the
Which of the following should be included in the acquisition cost of a piece of
Fixed assets are assets that will be held or used over a period longer than one year. Companies typically have land, equipment, and buildings as their fixed assets. The account is usually called property, plant, and equipment or PP&E.
Present as either a single-step or multiple-step format. Expenditures are presented by function. SEC registrants should follow SEC regulations.
Rod is employed as an auditor by a CPA firm. On most days, he commutes by auto from his home to the office (18 miles round trip). During one month, however, he has an extensive audit assignment closer to home. For this
1. Use the table below to describe the main principles, policies and procedures of your chosen organisation. You should also include details of documentation used to support these principles, policies and procedures.
2. If a car rental company charges $100 for each rental, a dollars per mile, and b dollars per hour, which of the following represents the total cost to rent a car for 6 hours and travel 250 miles? 100 + 250a + 6b
AM Trucking is a trucking company that provides a range of hauling services specializing in rock and production water hauling. The main service provided by this trucking company will be hauling foundation rock for a rock crushing company and delivering it to oilfield production pads and roads. Additional services will include occasionally providing a heavy equipment towing from multiple Oil companies land leases.
* Last truck arrived (1140min) – First truck arrived (411min) = 729min (=1140 - 411) → 729min/60 = 12.15hrs (Total receiving time)
A more efficient way to determine the total cost of drivers would be for Sam to use plow hours as a cost driver, and plug his average base wage rate and budgeted hours into this equation:
Clowning is an everyday thing in the life of a freight hauler. Most of it, in my opinion, comes from drivers harrassing/teasing other drivers for a variety of reasons. Some of these reasons are: the name of the company where a given driver works, something a driver did or said, the color of his truck, or whatever. This type of activity can even come from discussions about who is better, a company driver or an owner-operator. Both terms are self-explanatory, but simply put, a company driver works for the company where the driver is employed. An owner-operator, a.k.a. an independent, either works at the company for themselves or a private individual who owns the truck and leases it to the company.
There will be a number of documents that will need to be developed these will include;
Each Truck takes 36 m3 / load with 128 m3 / hr to get 0.28 hr/load.
Information about competitive transportation services will be gathered. Questionnaires will be distributed to students and faculty of Kent State University in order to gather customer insight. Also, a financial consulting firm will be hired to provide professional assistance.
1.0 INTRODUCTION Asset management is a concept that companies use to ascertain the value of their assets. It provides a quick measure of the worthiness of the organization and so becomes easier for organizations to prepare their final accounts as they are able to quickly estimate the value of their assets. Well managed organizations are required to perform regular fixed asset audits. Tracking and managing corporate assets and equipment is a challenge to most organizations especially when there is a large volume of assets or when those assets move frequently between departments or multiple branches. However in today‟s regulatory environment, it has become more important than ever for companies to