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Collection float considers to the gap among the times, payment is made through the customer/debtor and the time while funds are obtainable for use in the company's bank account. In easy way, this is the amount tied up in cheques and drafts which have been sent through the customers, but has not still been converted in cash. The purposes for this kind of collection float are as:
Variances Analysis Variances are the differences between actual results and expected results. Expected results are the standard costs and standard revenues. Price, rate and
Describe Benchmarking It is the process of measuring products service or activities against the best level of performance which may be found either inside or outside the organi
identify and explain the many classification of costs for planning, control.performance evaluation and decision making.
Game Theory Game theory was developed for the purpose of analyzing competitive situation involving conflicting interests. In game theory, there are assumed to be two or more pe
State Budgetary Control A budget is a quantitative expression of a plan of action relating to the forthcoming budget period. It represents a written operational plan of managem
INVENTORY CONTROL DECISIONS Factories, workshops, engineering departments handle raw materials used in the manufacture of products. The main objectives in handling these materi
Explain the Cost accounting: Meaning and definition: Cost accounting is the process of accounting for cost which begins with the incurrence of cost and ends with th
Schedule of Non-discretionary Data: and tables, in a form that is readable and readily understood. This worksheet is to be used to identify/capture the various non-discretionar
What is kaizen Kaizen is the Japanese term for continuous improvement. The kaizen concept was pioneered by in Japan by Toyota as daily challenge to all its to improve their pro
How do you compare two companies operating leverage? Must the sales volume be set the same or the net operating income?
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