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Financial Accounting Concepts
Ethical Perspective in Accounting Profession
Accountants have a significant responsibility to the public. This responsibility exists because outside shareholders, creditors, employees, and others rely on f
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Financial Accounting Concepts
Users and Decision-Makers Who Rely on Financial Statements
Financial statements are an essential source of financial information for a wide range of users and decision-makers. These statements provide a comprehensive ov
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Tax Accounting
Differences between management and tax accounting
Financial accounting and reporting are only part of the broad field of accounting. Other significant kinds of accounting include management accounting and tax a
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Financial Accounting Concepts
What Are Operating and Financing Lease
The term lease is defined as a contact between the owner of an asset that is called the lessor, or the user of the assets that is called the lessee. The lessor
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Cost Accounting
What is a sunk cost in accounting
A sunk cost is that which has been incurred or committed in the past and is, therefore, irrelevant to the decision-making purpose because the decision-maker no
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Cost Accounting
Differences between standard cost and standard costing
The standard cost is the amount anticipated to be paid for materials or labour. The standard quantity is the estimated amount of materials or labour used. It is
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Cost Accounting
Definition of Cost Object in Cost Accounting
Cost Object – Definition A cost object is anything for which a separate measurement of costs is desired. In other words, a cost object is a service unit f
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Cost Accounting
What is Contribution Margin? Meaning and Calculation
The contribution margin is the amount by which the selling price of a product exceeds its total variable unit costs. This difference between the selling price a
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Cost Accounting
What Are Perpetual and Periodic Stock Systems?
A trade or manufacturing company’s net stock position and the cost of stock issued over the year are often required to calculate the stock consumption and
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Financial Management
Markowitz Model of Risk-Return Optimization | Assumptions
Markowitz model is an optimal financial investment strategy to maximize the expected return for an investor while maintaining a desired level of risk. The Marko