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Accrued liabilities show expenses or obligations incurred in the earlier accounting period but the payment for similar will be made in the subsequent period. In several cases where payments are made periodically, as wages, rent and the same items, the last month's payment may appear as accrued liabilities as particularly if the practice is to pay similar on the first working day of a month. Such obligation demonstrated on the balance sheet shows that the firm owed the said amount in the balance sheet date.
Bickering Ltd Income Statement for the year ended 30 June 2012 Sales (credit) 636,10
Occurrence of Overhead Variances Overhead variances arise mainly because of the conventions of the overheads absorption process. The overhead absorption rates employed in this
Capability Maturity Model Integration (CMMI) is a process development approach that gives organizations with the essential elements of effective processes. It can be used to gui
in process beg and ending
Most corporations pay quarterly dividends on their common stock rather than annual dividends. Barring any unusual circumstances during the year, the board raises, lowers, or mainta
This is defined as an actual amount paid or incurred, as opposed to estimated cost or standard cost. In contracting, actual costs amount includes direct labor, direct material, and
for the year ended31st dec 2008manufacturing accountshowing costof row material,manufacturing expenses and the cost of goods manufactured& tradind account where stock of row mater
Example of Over and under absorption of production overhead costs By employing data from diagram assume such the production overhead absorption rate was computed where an acti
Describe the meaning of the fixed production overhead variances calculated under the standard absorption costing system and talk about their usefulness to the management of X Ltd.
One item a computer store sells is supplied by a vendor who handles only that item. Demand for that item recently changed, and the store manager must determine when to replenish it
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