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Budgetary Planning and Control - Accounting Techniques
A budget is a plan of action expressed in monetary terms. Therefore it is a quantified plan of what one intends to do.
All business must prepare a budget that is a document which has:
1. Quantify the strategy that management has decided to implement in order to achieve the business objectives for a future period. The budget will signify planned expenditure and income and may be analyzed to involve details for each product department and type;
2. Offer a base for control cycle; the control cycle is as given:
3. Provide a mechanism via such management responsibility may be matched along with the budgetary information and assisted with the budgetary control cycle.
describe the procedures involved in payroll labour cost accounting
Cost accounting as a descriptive or analytical discipline
Total profit means the total revenue excluding the total cost of the certain products. Average profit defines the profit which comes and achieved after selling each unit. Total
Break-Even Analysis Break-even point is the volume of sales at that there is no loss or. Break-even charts graphically show the relationship of cost to profits and volume and
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
Methods of Allocating Service Costs Direct Method The service costs are merely allocated to the production department according to the usage of the services given. St
Bakeson Bearings Ltd is preparing to submit a bid for a bearings order. Janet Lake, CEO of the Manufacturing Division, has asked Jason Docker, the management accountant, to prepa
Material Handling The objective is to ensure about the goods are delivered to the right places at the right instance and in aright manner to ignore delays, unnecessary and con
what is labour
importance of classifying cost accounting
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