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Roger Moon has just purchased the film studio of a movie company that specialises in comedies.He found that the company did not try to estimate the cost of making a movie.Instead,it just gave the producer a budget and told him/her to make a movie within budget.Mr Moon does not like this budget concept and desires to establish a formal cost estimation system.
Required:
What are some of the potential problems that may be encountered in changing from a budget to a cost estimation movie-making system?
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Compounded Monthly
A method of calculating interest where interest is added to the principal balance of an investment or loan once a month.
Future Value
The value of an investment or asset at a specified date in the future, taking into account factors such as interest rates or earnings.
Ordinary Annuity
A sequence of identical payments that are distributed at consistent intervals, where the initial payment is made at the conclusion of the period.
RRSP
Registered Retirement Savings Plan, a retirement savings and investment account for holding savings and investment assets, recognized by the Canadian government.
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