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DEFINITION OF COST ACCOUNTING
DEFINITION: as said by the Institute of Cost and Works Accountants (ICWA), London, Cost accounting is " the method of accounting for costs from the point at which spending is incurred or committed to the concern of its final relationship with cost units and cost centers .In its widest practice it embraces the research of statistical data, the request of cost control methods and the ascertainment of the productivity of activities planned or carried out ."
Tips to be keep in mind while preparing the Financial Statements : 1. Objects given in the trial balance must be revealed only once as it is assumed that they are already adjust
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t
matt schmidt company''s ledger shows the amount of
transactions can be even directly entered to the ledger elaborate and explain why journal is necessary
Q. Uses of journal in accounting? Organizing journal entries in a computerized system is different than in a manual system. The computer usually asks for the number of the acco
The magnitude of operating leverage for Perkins Corporation is 3.4 when sales are $100,000, if sales increase to $110,000, profits would be expected to increase by what percent?
Q. Instalments basis of revenue recognition? When accumulating the selling price of goods sold in monthly or annual instalments and considerable doubt exists as to collectabili
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what is the accounting concepts and conventions? and what is the procedure to follow the accounting formats
Q. Basic elements of financial statements? Therefore far we have discussed objectives of financial reporting and qualitative characteristics of accounting information. A third
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