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Describe the Principles of cost accounting Principles of cost accounting: The fundamental principles of costing are identical and are given below: 1. Cost is related to
QUESTION 1: P A RT A You are the Cost Accountant of an industrial concern and have been assigned the duty of preparing a cost accounting system. Initially it has been de
When forming a company, the options are sole proprietor, partnership, and corporation. Most choose corporation. Why is the corporate form seen to be best? What rights do the stockh
Question 1: A company's budgeted production of Product Zebra for the month ending 30 November 2004 was 10,000 units. The fixed overheads were budgeted at Rs3,200,000. The st
DOMINANCE Dominance strategy is useful for reducing the size of the payoff table. Rules of Dominance: 1) If all the elements in a column are greater than or equal to the
Activity Based Management (ABM) Also referred to as activity based cost management (ABCM). This is used to describe the cost management application of ABC. To implement A
The collection policy of a firm is intend at timely collection of overdue amount and comprises of the subsequent. a. Monitoring the state of debtors (account receivable)
Stock turnover ratio Meaning: this ratio establishes a relation ship between costs of goods sold and average inventory. Objective: the objective of component of this r
Determine the Scope and areas of cost reduction Scope and areas of cost reduction the scope of cost reduction is so wide that it is not practicable to develop fully the areas i
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