- Cost Accounting
What is a Cost Audit? – Meaning and Definition
A cost audit is designed to uncover and correct or prevent errors in the accounting of materials and services to customers. It is an ongoing process of checking
- Corporate Accounting
What are limited liability companies?
Limited liability companies are a type of organisation owned by shareholders, whose liability is limited to the amount that they invested in the company. Specif
- Cost Accounting
What are the advantages of absorption costing?
Absorption costing is a method of accounting for production costs that assign all direct and indirect costs to the products being produced. This method is also
- IFRS
GAAP and IFRS: Effects of Globalization
Globalisation has considerably influenced the way accounting is being practised worldwide. The reason for this is that laws are diverse throughout every country
- Cost Accounting
What is Ratio Analysis? – Meaning and Types of Ratios
Ratio analysis is one of the most useful techniques for the analysis or interpretation of a financial statement. Ratio analysis is defined as a technique that a
- Financial Management
What are various equity valuation methods?
The term equity valuation refers to the process of determining the fair market value of equity securities. In simpler terms, it’s figuring out what a comp
- Cost Accounting
What is Direct Labour Cost Variance
Direct labour cost variance refers to the standard cost of direct labour for the actual number of units produced less the actual cost. A total variance might ha
- Financial Accounting Concepts
Partnership Accounting: Preparing Appropriation Account
What is a Profit and Loss Appropriation Account? In this post, we will talk about appropriation accounts in accounting for partnerships. The appropriation accou
- Cost Accounting
What are the Advantages of Cost Audit?
A cost Audit is an important part of a company’s financial and risk management. The main purpose of this cost audit is to help the company to save money by fixi
- Cost Accounting
What is Direct Labour in Costing?
Direct labour is the cost of the labour used to produce a product or service. It includes all wages, salaries, and other forms of employee compensation, such as