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Cost Accounting
Marginal Costing and Absorption Costing difference
Absorption costing and marginal costing are two basic methods of cost accounting. Both the methods assist companies in ascertaining product costs, profitability
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Financial Accounting Concepts
What is zero-based budgeting? Meaning and Explanation
Zero-based budgeting, or ZBB, is a strategic approach to financial planning that expects each expense to be justified starting from zero. Unlike the traditional
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Financial Accounting Concepts
What is the accounting process? Various Steps Explained
The accounting process is a methodical procedure that organisations employ to account, analyze, and interpret business transactions. In other words, the account
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Cost Accounting
What is Material Mix Variance? Meaning and Treatment
Material mix variance is a measure of the deviation in the usage of different materials from standard or expected usage. In other words, material Mix Variance m
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Cost Accounting
What is Throughput Costing? When to Choose it?
Throughput costing is a system based on the fact that most production costs will not vary at the level of the individual unit produced. Throughput costing, also
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Cost Accounting
Target Costing and Lifecycle Costing Explained
Target Costing and Lifecycle Costing are two important tools that can be used to manage and control costs throughout the product development process. Target cos
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Cost Accounting
What is Cost Tracing – Meaning, Purpose and Challenges
Cost tracing is an important part of cost estimation. It allows us to compare costs for a given product between different cost centres. In order to do this, we
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Financial Accounting Concepts
What are various methods of valuation of goodwill?
Goodwill is an intangible asset that represents the value of a business’s reputation, customer base, brand recognition, and other non-physical assets. Val
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Financial Accounting Concepts
Top 10 Accounting Software | Cloud and Desktop
Whether you operate a small business or a large corporation, the proper accounting software can simplify bookkeeping, calculate taxes automatically, and offer r
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Cost Accounting
Meaning and Explanation of Service Costing
The term “service costing” refers to the method of calculating the cost per unit of service given. It also refers to the price of particular functio