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Cost Accounting
Integrated Accounting System of Cost Accounting
Integrated accounting is defined by the Chartered Institute of Management Accountants (CIMA) as “a collection of accounting records that offers financial
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Cost Accounting
What is a Non-Integrated Accounting System?
The non-integrated accounting system is an accounting method whereby accountants keep separate ledgers for cost and financial accounts. In such a system, the co
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Financial Accounting Concepts
Introduction to Contract Costing – Meaning and Types
The term ‘contract’ refers to the agreement between two parties to do a particular task within a given time frame. Typically, a contract involves a
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Cost Accounting
What is Job Costing? Advantages and Disadvantages
Job costing is a cost accounting system that allocates the costs of producing a good or service to the particular products and services of the company that crea
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IFRS
IFRS 3 – Business Combinations, Scope and Disclosure Requirements
Overview IFRS 3 Business Combinations describes how an acquirer accounts for the purchase of control of a business (e.g. an acquisition or merger). These busine
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Accounting Regulatory Bodies
The Sarbanes-Oxley Act of 2002 | Accounting and Ethics
The Sarbanes-Oxley Act of 2002 is a significant legislation aimed at increasing accountability and transparency in U.S. corporations. It was implemented in resp
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Cost Accounting
Introduction to Operating Costing in Cost Accounting
Operating Costing in Cost Accounting Operating costing provides information about the cost of operating a company’s production facilities. It includes the
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Corporate Accounting
What are zero coupon bonds and why do people invest in them?
What is a Bond? A bond is an obligation of a government, a company or an individual to pay a sum of money back to you at some time in the future, often with int
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IFRS
IFRS 2 – Share-Based Payment | Meaning and Scope
IFRS 2 is a standard issued by the International Accounting Standards Board (IASB) that provides guidance on the accounting treatment for share-based payments.
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IFRS
IFRS 1 — First-time Adoption of IFRSs
IFRS 1 First time Adoption of International Financial Reporting Standards sets out the processes that a company must take when it adopts IFRSs for the first tim