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After you have studied this section, you should be capable to:
Depending upon the user's purpose, the term 'funds' may be utilized differently. Literally, this implies a supply that can be drawn upon. This means it is used for mean cash, total working capital or current assets. We use this here in the sense of working capital meaning total current assets less current liabilities.
Funds flow is utilization is refer to changes in or movement of current liabilities and current assets. This movement is of vital significance in understanding and managing of the operations of a business.
We have seen in the section dealing along with balance sheet that every material transaction changes the position statement or Balance Sheet. It in other words implies a dynamic situation including continuous movement of resources in the business, inside the business and out of the business. The complication of these flows rises with the rising size and volume of business. Indirectly or directly, all these flow take place in business by the medium of funds.
Funds in the type of cash and cash equivalents, into the right quantity are essential for the smooth functioning of any business. The continuous movement of cash inside the business and out of the business could be understood through studying the cash flow statement.
The costs that are fixed irrespective of manufacture are fixed costs. EX: Rent, Depreciation. Fix cost is those cost who not alter in any time whether the production done or not
Cost Behaviour "Profitability is only around the corner." This is a general expression in the business world; you might have heard or said this yourself only. But, the reality
the features and scopes of job costing
concepts of accounting
Morrow Company applies overhead based on direct labor hours. At the beginning of the year, Morrow estimates overhead to be $620,000, machine hours to be 180,000, and direct labor h
Are public service corporations subject to uniform capitalization rules?
McDaniel Company manufactures 100-pound bags of fertilizer that have the following unit standard costs for direct materials and direct labor: Direct Materials (100 lbs. @ $1.00
Determine Profit by Using Absorption Costing Assuming the fixed overhead absorption rate was Ksh.3 per litre, then what would be the profit utilizing absorption costing? a)
2012 2011 Cash 12200 17700 Acct receivable 25200 22300 Investments
Accounting for Job Order Costing - Direct Materials Direct materials (i) Dr Stores ledger control Account Cr Cash Account - for cash purchasers X (ii) D
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