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The Nature of Accounting
Accounting is process of recording, analyzing, summarizing, and interpreting financial (money-related) activities to allow individuals as well as organizations to make informed judgments and decisions.
By law all businesses should keep accounting records. Decisions are based on accounting information for non-profit and profit companies alike.
Definition of Cost reduction Cost reduction is planned positive approach to reducing expenditure. Cost reduction exercises are planned campaigns to cut expenditure. It is a con
Positioning An essential part of the planning process is positioning the organization to attain its goals. Positioning is a wide concept and depends on gathering and evaluating
Explain the Methods of pricing The following methods are used for intra company transfer pricing: 1) Total cost method: transfer is made at absorption cost which is the t
When forming a company, the options are sole proprietor, partnership, and corporation. Most choose corporation. Why is the corporate form seen to be best? What rights do the stockh
INVENTORY PLANNING AND CONTROL The main goal of "inventory control" is to discover and maintain the optimum level of investment in all types of inventories, from raw materials
Inappropriate standards (or targets): This is a problem arising from deficiencies in planning. If not enough time and resources are devoted to setting accurate standards in th
Representation of Simplex method We shall use the example previously stated for the graphical solution. The standard form of the model is given by: Maximize : Z = 3X E + 2
From the subsequent financial data describe: a) How the airline company has grown-up b) How the company has been capable to earn grater margins at higher levels of sales
School problem is asking to calculate the work in progress inventory for the beginning of a month without providing previous month data.
Battle of the Sexes game To understand Battle of the Sexes game, let’s consider a story as follows: Two players (a couple) wish to go to an event together but disagree about
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