Provisions or estimated liabilities, Cost Accounting

Where the liabilities are identified but the amounts cannot be precisely found, we estimate the liability and give for it as a liability. A common illustration is income tax payable. Unless the tax liability is found the amount payable cannot be exactly determined. There could be other illustrations too, such as product warranty expenses to be met and rapidly. The common practice is to evaluate these liabilities depends on past experience and make a provision for the same that is demonstrated as a part of liabilities.

Posted Date: 4/4/2013 1:45:55 AM | Location : United States







Related Discussions:- Provisions or estimated liabilities, Assignment Help, Ask Question on Provisions or estimated liabilities, Get Answer, Expert's Help, Provisions or estimated liabilities Discussions

Write discussion on Provisions or estimated liabilities
Your posts are moderated
Related Questions
sales to profit volume ratio for three year

Determine Cost per Unit By Using Marginal and Absorption Costing The given information was extracted from the book of a company for the year ended on date 31/12/2001. Outpu

Occurrence of Overhead Variances Overhead variances arise mainly because of the conventions of the overheads absorption process. The overhead absorption rates employed in this


On January 1, 2012 Morgan's Motors issued $500,000 of 3-year, 8% bonds when the market yield was 6%. The bond agreement stated that compounding was semi-annual with payments due on

Estimate the Growth rate of stock Data stock price = 53 rate of return= 12% expected dividend = 3.15 Formula : Expected returnĀ  = (dividend paid + capital

Effects of differential cost analysis in decision making

Stock control and its Level Management must formulate decisions regarding to the control of stock levels along with a view to minimizing the cost of the company whereas achie

Principles of Marginal Costing The principles of marginal costing are as given: 1. Period fixed costs are similar, for any volume of sales and production provided suc

maintenance costs at a hospital