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Determine the Traditional classification
a) Balance sheet or position statement ratios: balances sheet ratios deal with the relationship among two balance sheet item e.g., the ratio of current assets to current liabilities or the ratio of proprietors funds to fixed assets. Both the item must however pertain to the same balance sheet. The various balance sheet ratios have been named in the chart classifying statement ratios.
b) Profit and loss account or revenue/income statement ratio: these ratio deal with the relationship among two profit and loss accounts item e.g., the ratio of gross profit to sales of the ratio of net profit to sales. Both the item must however belong to the same profit and loss account. The various profit and loss account ratio commonly used is named in the chart classifying statement ratios.
c) Composite/mixed ratio or inter statement ratios: these ratios deal with the relation among a profit and loss account or income statement item and a balance sheet item e.g., stock turnover ratio or the chart exhibiting classification or statement ratios.
Kaizen and management Management has two major components: 1) Maintenance 2) Improvement. The aim of the maintenance function is to maintain current technological man
Explain Profitability ratios in relation to sales a) Gross profit ratio b) Net profit ratio c) Operating ratio d) Operating profit ratio e) Expenses ratio
Activity Based Costing (ABC) differs from Absorption Costing (AC) in the manner in which overheads are charged to units. ABC charges overheads to units based on their proportion
11.1 Process Solutions provides a computer-based document processing service. The accountant has produced the following analysis. Standard Modified Advanced Sales quantity 1,000
Define Materials cost variance Material cost variance (MCV) is the difference between the standard cost of material specified and the actual cost of materials used." It is the
directing[ budgeting
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Important steps of budgetary control There are certain steps which are essential for the successful implementation of a budgetary control system. They are as follows: 1) Or
Limitation of break even charts Despite many advantages a break even chart suffers from the following limitations: 1) A break even chart is based upon a number of assumption
Criticism of Material Requirement Planning
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