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A PROJECT REPORT ON ROCK MUSIC CDCOMPANY
SUBMITTED TO: Prof
Submiited By:
PAWAN KUMAR
IILM-GSM
GREATER NOIDA
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COST ACCOUNTING
Cost accounting is an approach to evaluating the overall coststhat are associated with conducting business. Generally basedon standard accounting practices, cost accounting is one of thetools that managers utilize to determine what type and howmuch expenses is involved with maintaining the currentbusiness model. At the same time, the principles of costaccounting can also be utilized to project changes to thesecosts in the event that specific changes are implemented.
When it comes to measuring how wisely company resources arebeing utilized, cost accounting helps to provide the data relevantto the current situation. By identifying production costs andfurther defining the cost of production by three or moresuccessive business cycles, it is possible to note any trendsthat indicate a rise in production costs without any appreciablechanges or increase in production of goods and services. Byusing this approach, it is possible to identify the reason for thechange, and take steps to contain the situation before bottom
line profits are impacted to a greater degree.
Product development and marketing strategies are alsoinformed by the utilization of cost accounting. In terms ofproduct development, it is possible to determine if a newproduct can be produced at a reasonable price, considering thecost of raw materials and the labor and equipment necessary toproduct a finished product. At the same time, marketingprotocols can make use of cost accounting to project if theproduct will sell enough units to make production a viable
option.
Cost accounting is helpful in making a number of businessdecisions. By weighing the actual costs versus the anticipatedbenefit, cost accounting can help a company to avoid launchinga product with no real market, prevent the purchase ofunnecessary goods and services, or alter the current operational
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model in a manner that will decrease efficiency. Whether utilizedto evaluate the status of a department within the company or asa tool to project the feasibility of opening new locations orclosing older ones, cost accounting can provide important datathat may impact the final decision.
STANDARD COST ACCOUNTING
In modern cost accounting, the concept of recording historical costs was
taken further, by allocating the company's fixed costs over a given
period of time to the items produced during that period, and recording
the result as the total cost of production. This allowed the full cost of
products that were not sold in the period they were produced to be
recorded in inventory using a variety of complex accounting methods,which was consistent with the principles ofGAAP (Generally Accepted
Accounting Principles). It also essentially enabled managers to ignore
the fixed costs, and look at the results of each period in relation to the
"standard cost" for any given product.
For example: if the railway coach company normally produced 40
coaches per month, and the fixed costs were still $1000/month, then
each coach could be said to incur an overhead of $25 ($1000/40). Adding
this to the variable costs of $300 per coach produced a full cost of $325
per coach.This method tended to slightly distort the resulting unit cost, but in
mass-production industries that made one product line, and where the
fixed costs were relatively low, the distortion was very minor.
For example: if the railway coach company made 100 coaches one
month, then the unit cost would become $310 per coach ($300 +
($1000/100)). If the next month the company made 50 coaches, then the
unit cost = $320 per coach ($300 + ($1000/50)), a relatively minor
difference.
An important part of standard cost accounting is a variance analysis
which breaks down the variation between actual cost and standard costsinto various components (volume variation, material cost variation,
labor cost variation, etc.) so managers can understand why costs were
different from what was planned and take appropriate action to correct
the situation.
http://en.wikipedia.org/wiki/GAAPhttp://en.wikipedia.org/wiki/Business_process_overheadhttp://en.wikipedia.org/wiki/Variance_analysis_(accounting)http://en.wikipedia.org/wiki/GAAPhttp://en.wikipedia.org/wiki/Business_process_overheadhttp://en.wikipedia.org/wiki/Variance_analysis_(accounting) -
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MUSIC
Music is an art form whose medium is sound organized in time.
Common elements of music are pitch (which governs melody andharmony), rhythm (and its associated concepts tempo, meter, and
articulation), dynamics, and the sonic qualities oftimbre and texture.
The creation, performance, significance, and even the definition of
music vary according to culture and social context. Music ranges from
strictly organized compositions (and their recreation in performance),
through improvisational music to aleatoric forms. Music can be divided
into genres and subgenres, although the dividing lines and relationships
between music genres are often subtle, sometimes open to individual
interpretation, and occasionally controversial. Within "the arts", music
may be classified as a performing art, a fine art, and auditory art.
To people in many cultures, music is inextricably intertwined into their
way of life. Greek philosophers and ancient Indians defined music as
tones ordered horizontally as melodies and vertically as harmonies.
Common sayings such as "the harmony of the spheres" and "it is music
to my ears" point to the notion that music is often ordered and pleasant
to listen to. However, 20th-century composer John Cage thought that
any sound can be music, saying, for example, "There is no noise, onlysound.According to musicologist Jean-Jacques Nattiez, "the border
between music and noise is always culturally definedwhich implies
that, even within a single society, this border does not always pass
through the same place; in short, there is rarely a consensus. By all
accounts there is no single and interculturaluniversal concept defining
what music might be, except that it is 'sound through time.
HISTORY
The development of music among humans must have taken place
against the backdrop ofnatural sounds such as birdsong and the sounds
other animals use to communicate. India has one of the oldest musical
traditions in the worldreferences to Indian classical music (marga)
can be found in the ancient scriptures of the Hindu tradition
http://en.wikipedia.org/wiki/Arthttp://en.wikipedia.org/wiki/Media_(arts)http://en.wikipedia.org/wiki/Soundhttp://en.wikipedia.org/wiki/Timehttp://en.wikipedia.org/wiki/Pitch_(music)http://en.wikipedia.org/wiki/Melodyhttp://en.wikipedia.org/wiki/Harmonyhttp://en.wikipedia.org/wiki/Rhythmhttp://en.wikipedia.org/wiki/Tempohttp://en.wikipedia.org/wiki/Meter_(music)http://en.wikipedia.org/wiki/Articulation_(music)http://en.wikipedia.org/wiki/Dynamics_(music)http://en.wikipedia.org/wiki/Timbrehttp://en.wikipedia.org/wiki/Texture_(music)http://en.wikipedia.org/wiki/Performancehttp://en.wikipedia.org/wiki/Definition_of_musichttp://en.wikipedia.org/wiki/Definition_of_musichttp://en.wikipedia.org/wiki/Aleatoryhttp://en.wikipedia.org/wiki/Genrehttp://en.wikipedia.org/wiki/Genre#subgenrehttp://en.wikipedia.org/wiki/The_artshttp://en.wikipedia.org/wiki/Performing_artshttp://en.wikipedia.org/wiki/Fine_arthttp://en.wikipedia.org/wiki/Greek_philosophyhttp://en.wikipedia.org/wiki/John_Cagehttp://en.wikipedia.org/wiki/Noisehttp://en.wikipedia.org/wiki/Jean-Jacques_Nattiezhttp://en.wikipedia.org/wiki/Natural_soundshttp://en.wikipedia.org/wiki/Indian_classical_musichttp://en.wikipedia.org/wiki/Hinduhttp://en.wikipedia.org/wiki/Arthttp://en.wikipedia.org/wiki/Media_(arts)http://en.wikipedia.org/wiki/Soundhttp://en.wikipedia.org/wiki/Timehttp://en.wikipedia.org/wiki/Pitch_(music)http://en.wikipedia.org/wiki/Melodyhttp://en.wikipedia.org/wiki/Harmonyhttp://en.wikipedia.org/wiki/Rhythmhttp://en.wikipedia.org/wiki/Tempohttp://en.wikipedia.org/wiki/Meter_(music)http://en.wikipedia.org/wiki/Articulation_(music)http://en.wikipedia.org/wiki/Dynamics_(music)http://en.wikipedia.org/wiki/Timbrehttp://en.wikipedia.org/wiki/Texture_(music)http://en.wikipedia.org/wiki/Performancehttp://en.wikipedia.org/wiki/Definition_of_musichttp://en.wikipedia.org/wiki/Definition_of_musichttp://en.wikipedia.org/wiki/Aleatoryhttp://en.wikipedia.org/wiki/Genrehttp://en.wikipedia.org/wiki/Genre#subgenrehttp://en.wikipedia.org/wiki/The_artshttp://en.wikipedia.org/wiki/Performing_artshttp://en.wikipedia.org/wiki/Fine_arthttp://en.wikipedia.org/wiki/Greek_philosophyhttp://en.wikipedia.org/wiki/John_Cagehttp://en.wikipedia.org/wiki/Noisehttp://en.wikipedia.org/wiki/Jean-Jacques_Nattiezhttp://en.wikipedia.org/wiki/Natural_soundshttp://en.wikipedia.org/wiki/Indian_classical_musichttp://en.wikipedia.org/wiki/Hindu -
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MARKET SHARE OF MUSIC
Universal 25.9%
Sony 14.1%
EMI 12.0%
Warner 11.9%
BMG 11.1%
Others 25.0%
55% of the music sold in 2004 was bought by people
older than 30 compared with 48% in 1999, according
to the International Federation for the Phonographic
Industry. Universal Music had 25.5% of the market,
Sony BMG was second with 21.5%, EMI was third with
13.4%, Warner Music has 11.3%. Universal grabbed a
big chunk of North American market share from its
three main rivals, jumping to 32.5% from 27.9%while Sony BMGs share slipped to 24.9% from 27.6%.
By genre, Americans are buying more country music
and less pop than they did five years ago, the IFPI
found, while Britons are buying more rock and rap and
less dance music. Germans are also buying more rock
at the expense of pop and dance
http://news.yahoo.com/news?tmpl=story&cid=581&e=4&u=/nm/20050802/tc_nm/media_music_ifpi_dchttp://news.yahoo.com/news?tmpl=story&cid=581&e=4&u=/nm/20050802/tc_nm/media_music_ifpi_dchttp://news.yahoo.com/news?tmpl=story&cid=581&e=4&u=/nm/20050802/tc_nm/media_music_ifpi_dchttp://news.yahoo.com/news?tmpl=story&cid=581&e=4&u=/nm/20050802/tc_nm/media_music_ifpi_dchttp://news.yahoo.com/news?tmpl=story&cid=581&e=4&u=/nm/20050802/tc_nm/media_music_ifpi_dchttp://news.yahoo.com/news?tmpl=story&cid=581&e=4&u=/nm/20050802/tc_nm/media_music_ifpi_dc -
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MUSIC GROWTH RATE IN INDIA
the Indian music industry is the fifth largest consumer of music
units in the world (181.1 million units), but due to rampant piracy
and lack of deterrent punishment to pirates and other issuesbeing faced by IMI, it lacks way behind at no 18 in the world in
terms of music value (0.6% of world sales). The time is thus
appropriate for Indian Music Industry (IMI) to fight its way back
from several years of plummeting sales brought on by music
piracy; high rate of taxes; online downloads and competing
forms of entertainment such as FM Radio, Multiple Music
Television Channels, Video Games and DVD's.
The Indian Music Industry (IMI) is a consortium of over 50 musiccompanies including several prominent regional and nationallabels such as SAREGAMA, Universal Music, Tips, Venus, BMGCrescendo, Sangeetha, Sony Music, Virgin, Aditya Music actingthrough their principal officers and representing over 75% of theoutput in legitimate recordings and a wide range of musicalrepertoire. IMI strives to protect the rights of phonogram
producers and in the process promote the development ofmusical culture.
IMI represents the recording industry of India and is affiliated toIFPI the World Industry body having 1,450 members in 75countries and Industry Organisations in 48 countries. While PPLis the exclusive Copyright Society engaged in the business ofmusic licensing of the recording industry, with affiliates in 45countries of the World.
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FUTURE OF INDIAN MUSIC
The music industry of today looks almost nothing like the music
industry of 20 years ago. There are a ton of reasons, most of them
having to do with digital technology. If you are a young journalist
starting out today, you may still aspire to get a big publisher to give you
an advance and widely publish your book; but if you are a young
musician starting out today, do you want to get a big record advance or
do you want to sell the music yourself, like these folks do, and like Jane
Siberry does? If you are a record label, what do you do about illegal
downloads, and do you keep putting out albums that nobody buys or
do you instead try to release only individual songs, as many people seem
to prefer? It strikes me as ironic that a new technology (digital music)
may have accidentally forced record labels to abandon the status quo
(releasing albums) and return to the past (selling singles). I sometimes
think that the biggest mistake the record industry ever made was
abandoning the pop single in the first place.
http://freakonomics.blogs.nytimes.com/2007/03/29/how-much-for-that-song-its-up-to-you/http://freakonomics.blogs.nytimes.com/2006/05/03/how-is-a-canadian-art-pop-singer-like-a-bagel-salesman/http://freakonomics.blogs.nytimes.com/2006/05/03/how-is-a-canadian-art-pop-singer-like-a-bagel-salesman/http://freakonomics.blogs.nytimes.com/2007/03/29/how-much-for-that-song-its-up-to-you/http://freakonomics.blogs.nytimes.com/2006/05/03/how-is-a-canadian-art-pop-singer-like-a-bagel-salesman/http://freakonomics.blogs.nytimes.com/2006/05/03/how-is-a-canadian-art-pop-singer-like-a-bagel-salesman/ -
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ROCK MUSIC
COST SHEET FOR THE YEAR ENDED 2009
Particulars Amount Amount
Opening Stock of Raw Material
Add: Purchase of Raw materials
Raw Materials Consumed
Direct Wages (Labour)
Direct Charges
10,00,000
15,00,000
25,000
50,000
25,000
Prime cost (1) 26,00,000 26,00,000
Add :- Factory Over Heads:
Factory Rent
Factory Power
Indirect Material
Indirect WagesSupervisor Salary
Drawing Office Salary
Factory Insurance
Factory Asset Depreciation
80,500
1,38,000
1,00,500
50,00045,000
25,500
5,30,000
30,500
Works cost Incurred 10,00,000 36,00,000
Add: Opening Stock of WIP
Less: Closing Stock of WIP
5,00,000
50,000Works cost (2) 4,50,000 40,50,000
Add:- Administration Over Heads:-
Office Rent
General Charges
Audit Fees
70,000
50,000
35,000
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Bank Charges
Counting house Salary
Other Office Expenses
20,000
15,000
10,000
Cost of Production (3) 2,10,000 42,60,000Add: Opening stock of Finished Goods
Less: Closing stock of Finished Goods
5,00,000
40,000
Cost of Goods Sold 4,60,000 47,20,000
Add:- Selling and Distribution OH:-
Sales man Commission
Sales man salary
Traveling Expenses
AdvertisementDelivery man expenses
Sales Tax
Bad Debts
30,000
35,000
12,000
1,00,00030,000
25,000
30,000
Cost of Sales (5) 2,62,000 49,82,000
Profit (balancing figure) 1245500
Sales 6227500
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Calculation of profit
Company can earn 20% profit in total cost
Total cost * %
Profit= (100-%)
= 49,82,000 * 20
80
= 1245500