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What is variance?
In most production management systems, a "Planned" quantity and material cost is calculated based on the associated Bill of Materials (BOM) and Operatons being performed (Route) creating labor and overhead related costs. The "Actual" quantities, material costs, and labor/overhead costs are issued to a Work in Process (WIP) account and the quantities/values of the produced items are recieved from the WIP account. A variance usually occurs when there is a difference between the issued material cost plus labor and overhead and the recieved material cost of the produced item. The reasons for these variances can be differences in planned vs actual quantities, differences in system or planned cost of materials, labor, or overhead vs actual cost, or any other potential reason for an unplanned difference.
How do GARCH processes work?
GARCH processes are used to model the conditional volatility of financial returns in discrete time. There are many many different types of GARCH, the most popular and simplest being the GARCH(1,1), where returns have mean mu and conditional variance vt (t indexes time): returnt = mu + sqrt(vt)et where et is a standardized innovation.Conditional variance follows a first order autoregressive process: vt= a + b* vt-1 + c* vt-1*et-1^2
Why didn't the Romans use aluminum?
Aluminium was unknown to the Romans as they did not have the technology to produce it. --------------------------------------------------- You can not smelt aluminium or in a furnace, the process requires electricity. The Romans did not have electricity and therefore the metal aluminium was unknown to them
What is a SAS 99 or what is meant by it?
An SAS 99 is part of the auditing standards. It is one of the rules which requires auditors to look for any signs of fraud throughout the process and take action where needed.
Do you put a period after inc?
Yes. Inc. is an abbreviation for incorporated and generally requires a period at the end. However, if you are referring to a specific company name, follow the punctuation provided by that company since the punctuation is intentionally chosen by that company in the incorporation process.
