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Fundamentals of Accounting

Fundamentals of Accounting

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  • Cost Accountingspoilage and defectives
    Raj MauryaJuly 13, 2023
    0 25

    Difference between Spoilage and Defectives in Cost Accounting

    In cost accounting, spoilage and defectives refer to different types of quality issues that arise during the production process. While both terms indicate

  • Cost Accountinginventory valuation - LIFO method
    Raj MauryaJuly 13, 2023
    0 33

    A Short Note on the LIFO Method of Inventory Valuation

    The LIFO method, or last-in, first-out, is one of the most popular and widely used inventory valuation methods in cost accounting. Under this approach, the

  • Cost Accountinginventory holding cost
    Raj MauryaJuly 13, 2023
    0 22

    What is meant by annual holding cost in costing?

    Annual holding cost, also known as carrying cost or holding cost, refers to the expenses incurred by a company for holding and storing inventory over a spe

  • Cost Accountingeconomic order quantity
    Raj MauryaJuly 13, 2023
    0 33

    What is Economic Order Quantity and Its Assumptions?

    Economic Order Quantity (EOQ) is a formula used in inventory management to determine the optimal quantity of goods that should be ordered at one time. It h

  • Corporate Accountingequity shares and preference shares
    Raj MauryaJuly 11, 2023
    0 21

    Differences Between Equity and Preference Shares

    Equity shares and preference shares are both types of stocks or shares that represent ownership in a company. However, they differ in terms of rights, divi

  • Financial Accounting Conceptsaccounting and auditing
    Raj MauryaJuly 11, 2023
    0 27

    What Are the Differences between Accounting and Auditing

    Accounting involves tracking, reporting, and analyzing financial transactions. It covers everything from preparing individual tax returns to preparing fina

  • Financial Accounting Conceptshire purchase vs lease agreement
    Raj MauryaJuly 11, 2023
    0 28

    Differences between Lease and Hire Purchase

    Lease and hire purchases are two different methods of acquiring assets, such as vehicles or equipment. But both are different. Hire Purchase vs Lease Agree

  • Cost AccountingFIFO Method
    Raj MauryaJune 23, 2023
    0 56

    What is the FIFO Method of Inventory Control

    Inventory control is a crucial aspect of any business that involves selling products. It ensures that the right amount of stock is available at the right t

  • Financial Accounting ConceptsBill of exchange
    Raj MauryaJune 23, 2023
    0 28

    What is a Bill of Exchange?

    The seamless operation of transactions is made possible by a variety of tools in the worlds of banking and commerce. The Bill of Exchange is a legally bind

  • Financial Accounting Conceptsgeneral reserve vs capital reserve
    Raj MauryaJune 22, 2023
    0 59

    Differences Between General Reserves and Capital Reserves

    Reserves are essential for strengthening a company’s financial situation. General reserves and capital reserves are two different kinds of reserves.

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