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Cost Accounting
What are the Different Types of Cost Audit?
A cost audit is an independent examination of an organization’s cost accounting records and procedures. It is used to ensure that the organization is foll
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Cost Accounting
What is the Importance of Overhead Costs
Overhead costs are expenses incurred during the production of a product or the operation of a department but cannot be directly attributed to the product or dep
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Financial Management
How to Calculate Accounting Rate of Return [With Example]
When a company makes an investment it evaluates the financial feasibility of the investment. This process is called investment appraisal. Investment appraisal i
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Cost Accounting
What is a Cost Audit? – Meaning and Definition
A cost audit is designed to uncover and correct or prevent errors in the accounting of materials and services to customers. It is an ongoing process of checking
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Corporate Accounting
What are limited liability companies?
A limited liability company, LLC, is a form of business organization that incorporates elements of corporations and partnerships. As such, the owners of this bu
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Cost Accounting
What are the advantages of absorption costing?
Absorption costing is a method of accounting for production costs that assign all direct and indirect costs to the products being produced. This method is also
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IFRS
GAAP and IFRS: Effects of Globalization
Globalisation has considerably influenced the way accounting is being practised worldwide. The reason for this is that laws are diverse throughout every country
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Cost Accounting
What is Ratio Analysis? – Meaning and Types of Ratios
Ratio analysis is one of the most useful techniques for the analysis or interpretation of a financial statement and performance of a company. It provides insigh
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Financial Management
What are various equity valuation methods?
The term equity valuation refers to the process of determining the fair market value of equity securities. In simpler terms, it’s figuring out what a comp
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Cost Accounting
What is Direct Labour Cost Variance
Direct labour cost variance refers to the standard cost of direct labour for the actual number of units produced less the actual cost. A total variance might ha