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Cost Accounting and Cost Management
What is Reorder Level in Cost Accounting?
Introduction Cost accounting is essential for businesses to understand their costs and make informed decisions. One of the key concepts in cost accoun
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Money and Investment
What is a mortgage calculator?
Mortgages are a prevalent method for financing properties. A mortgage is a loan used to purchase a home, and it is typically repaid over a 15- to a 30
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Financial Accounting Concepts
What Do Mean Sundry Debtors and Sundry Creditors?
Sundry debtors and sundry creditors are words frequently used in the business world. These phrases describe the sums of money that a company owes to i
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Cost Accounting and Cost Management
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 particul
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Financial Accounting Concepts
What are Liquidity Ratios? – Meaning and Formula
Liquidity ratios measure the short-term financial solvency of a business. Here the short term refers to a period of 12 months or lesser. Investors typ
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Cost Accounting and Cost Management
What is Fixed Overhead Volume Variance?
The fixed overhead volume variance is also referred to as the production volume variation because this variance is dependent on production volume. The
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Financial Accounting Concepts
What are Current Liabilities? Meaning and Types
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
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Financial Accounting Concepts
What is the Modified Internal Rate of Return (MIRR)?
In an effort to solve some of the shortcomings of the IRR method, financial analysts have devised an alternate evaluation procedure that is comparable
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Cost Accounting and Cost Management
What is Throughput Costing?
Throughput costing, also known as super-variable costing, is a relatively recent concept. Except for direct materials, all expenditures are treated as
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Financial Accounting Concepts
What Does Mean Substance Over Form?
In accounting, the phrase “substance over form” refers to a preference for the underlying truth of a transaction above its legal form. The
