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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.
what will a $5,000,000 investment be worth at 3.5% interest compounded quarterly in 10 years?
Question: Timothy Ltd uses a flexible budget for overhead costs. The company expects to produce 40,000 units of the product it manufactures. Each unit requires 0.40 direct labo
Distribution and Selling Cost Budget This is the forecast of all costs incurred in distributing and selling the company's product throughout the budget period. This is closel
are exploration costs of a mining company an asset or an expense
FNSD analysis example
Direct Material Usage Variance Refers to the difference among the actual quantity utilized and the standard quantity particular for the actual production, all valued at the st
Time Analysis - Cost Accumulation This is generally achieved via having the employee complete a daily or weekly timesheet or via contain job cards or piecework tickets. As whe
MARGINAL COSTING As per the Chartered Institute of Management Accountants, London, the phrase 'Marginal cost' means - 'the amount at every given volume of output through which
what is the purpose of cost accounting and its nat ure?
Advantages and Disadvantages of Group Bonus Plan Benefits associated along with group bonus schemes involve i. It encourages teamwork and cooperation among workers ii.
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