Month: June 2021
- Cost Accounting
What Are the Assumptions and Limitations of CVP Analysis?
Cost-Volume-Profit (CVP) analysis is a method for assessing the links between selling prices, total sales revenue, and the volume of production, expenses, and p
- Cost Accounting
What are non-manufacturing costs or period costs?
Period Costs Period costs, also referred to as nonmanufacturing costs, are expenses that a business incurs to maintain its operations but are not directly assoc
- Cost Accounting
Purpose of Financial Accounting, Cost Accounting, GAAP, and IFRS
Purpose of Financial Accounting 1. Providing information to investors and creditors: Financial accounting provides investors and creditors with information abou
- Financial Accounting Concepts
What are fundamental accounting principles?
Accounting is integral to any organization’s success, and fundamental accounting principles serve as a foundation for accurate financial reporting. Fundam
- Financial Accounting Concepts
Ethical Perspective in Accounting Profession
Accountants have a significant responsibility to the public. This responsibility exists because outside shareholders, creditors, employees, and others rely on f
- Financial Accounting Concepts
Key Users of Financial Statements for Decision-Making
Financial statements are an essential source of financial information for a wide range of users and decision-makers. These statements provide a comprehensive ov
- Tax Accounting
Differences between management and tax accounting
Financial accounting and reporting are only part of the broad field of accounting. Other significant kinds of accounting include management accounting and tax a