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The difference among "cost accounting" and "financial accounting are terms demote to the accounting techniques used internally by a company's management to explain the costs of running the business and help in decision making. For instance, reports that compare budgeted to real expenses are commonly used to monitor the successful management of a particular department or store within a larger enterprise.
Dividends ................ Non-operating losses not passed through P and L A/c
Ask quCalculate the standard production cost per unit and standard profit per unit using Absorption costing principles. ii. Prepare a profit statement for January and February (se
It is important to have performance measures to evaluate managers as they control resources and invest in assets for the company. Describe how you could use different variances (ac
Last in first out or LIFO LIFO is based upon the assumption such the stock purchased last is issued first. Stock valuation should here be based upon the prices ruling on acqui
Marginal Cost Marginal cost is the change in a firm's cost of production. It is related to a unit change in its output, or the added cost of producing the next unit. The margin
Accounts Payable or sundry creditors are generally unsecured debts owed through the firm. These are also considered to as payables on open accounts. They may not be evidenced throu
9. When in the management process do managers seek an answer to the question "Did we meet our cost-reduction goals for non-value-adding activities?" a. Planning b. Performing c. Ev
Flexible Budget Flexible budget is a budget that is designed to change in accordance along with the level of activity attained. It includes budgeting at various levels in anti
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A provision must be made in advance for those debts whose recovery is uncertain and to writing off bad debts. Each enterprise, depends on their past experience, make a provision fo
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