The fixed overhead volume variance is also referred to as the production volume variation because this variance is dependent on production volume. The volume variance…
Liabilities are the obligations to pay money, render services, or deliver goods at a later date as a result of a previous transaction. This definition…
In an effort to solve some of the shortcomings of the IRR method, financial analysts have devised an alternate evaluation procedure that is comparable to…
Throughput costing, also known as super-variable costing, is a relatively recent concept. Except for direct materials, all expenditures are treated as period expenses under throughput…
In accounting, the phrase “substance over form” refers to a preference for the underlying truth of a transaction above its legal form. The accounting idea…
In accounting, a trade discount is a reduction in price a manufacturer or wholesaler offers a trade buyer on the list price of goods. Purpose…
Capital Expenditure Capital expenditures comprise costs incurred for the acquisition of a fixed asset, such as land, a building, a car, machinery, etc. It also…
In accounting, revenue is defined as the total value of all money and other assets received by a company over a period of time. This…
