History of accounting standard setting in Australia
Accounting standard setting Accounting standards in Australia were initially developed by professional accounting bodies and were enforceable under their codes of ethics. From 1966, the professional bodies jointly operated the Australian Accounting Research Foundation (AARF), which ultimately encompassed both the Accounting Standards Board (AcSB) and the Public Sector Accounting Standards Board (PSASB). These Boards worked […]
What are capital structure ratios in accounting?
Capital structure ratios are financial assess company’s long-term financial stability and the proportion of debt and equity in its financing These ratios reveal important information regarding a company’s long-term solvency, financial leverage, and general financial risk position. The most prevalent capital structure ratios are the debt ratio (total debt over total assets), debt-to-equity ratio (total […]
How to Delete a bill in QuickBooks Online?
For a new user, it may be difficult to find how to delete a bill in Quickbooks Online. This situation may arise as a result of wrong particulars in the entered invoice. Or once the correct details are entered but due to manually importing the data there may be duplicacy of invoices. Steps to Delete […]
Financial Analysis of Sainsbury’s
Sainsbury’s is a British grocery store giant, the second biggest chain in the UK. Founded in 1869, it boasts a protracted record of providing groceries and family necessities. Sainsbury’s offers various keep codecs, from big supermarkets to comfort stores. They are recognised for his or her personal-emblem merchandise alongside popular labels. Beyond groceries, Sainsbury’s owns […]
IGNOU ECO-14 Assignment 2019-20 [Unsolved]
ECO – 14: Accountancy – II 1. What are the three systems of maintaining the accounts of a dependent branch and describe how is profit ascertained under each system? Explain how a branch stock account helps in keeping effective control over the branch stock. (20) 2. Jalani Distributors sold three light commercial vans to Jain […]
Meaning and Types of Solvency Ratios
Solvency ratios are financial measurements used to assess a company’s ability to meet its long-term obligations and remain financially stable. These ratios evaluate a company’s ability to generate adequate cash flows to cover its debt and other financial obligations. By analyzing solvency ratios, investors and lenders can gauge the financial health and stability of a […]
Incomplete records system is unscientific and Inaccurate
An incomplete records system is unscientific, incomplete, inaccurate and unsystematic. Explain An incomplete records system is unscientific, incomplete, inaccurate, and unsystematic because it does not follow the accepted principles and standards of accounting. This can lead to a number of problems, including: Unscientific: An incomplete records system does not use the scientific principles of data collection, […]
Meaning and Definition of Absorption Costing
Absorption costing is a method of costing that includes all costs incurred in the production process, including both fixed and variable costs. Absorption costing, also known as full costing, is conventional in ascertaining costs. It is the practice of charging all variable and fixed costs to the operation, processes, and products. It is the oldest and […]
What is the Price Yield Relationship?
The Price Yield Relationship (also known as the price yield equation) refers to the relationship between the price of a security and its yield. The price yield relationship is an inverse relationship between the price of a security and its yield. The higher the security price, the lower the yield, and vice versa. In other […]
Definition of Overhead in Cost Accounting
Overhead is an essential category to be tracked and thus controlled in the cost accounting system for effective management of expenses because profitable operations are only sustainable if cost accounting is managed along a profitable line and also for operational efficiency. Overhead is the indirect cost incurred by the use of a business and cannot […]