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Financial Accounting Concepts
Partnership Accounting: Preparing Appropriation Account
What is a Profit and Loss Appropriation Account? In this post, we will talk about appropriation accounts in accounting for partnerships. The appropriation accou
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Cost Accounting
What are the Advantages of Cost Audit?
A cost Audit is an important part of a company’s financial and risk management. The main purpose of this cost audit is to help the company to save money by fixi
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Cost Accounting
What is Direct Labour in Cost Accounting?
Direct labour is the cost of the labour used to produce a product or service. It includes all wages, salaries, and other forms of employee compensation, such as
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Financial Management
Hedge Fund Strategies in Finance
You’ve probably heard the term “hedge fund,” but what exactly is it, and how do these firms make money? Unlike traditional investment funds th
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Cost Accounting
Why do variances arise in costing
Variance in cost accounting is the difference between the actual cost of something and the expected cost of something. For example, a direct material cost varia
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Financial Management
The Payback Period Method of Investment Appraisal
The payback period is the amount of time it takes to recover the investment’s initial outlay. In other words, it is the amount of time it takes for the pr
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Financial Accounting Concepts
Accounts for manufacturing businesses
What are manufacturing businesses? A manufacturing business is that which is involved in the production of manufacture of goods. Typical examples of manufacturi
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Financial Accounting Concepts
What are the final accounts? and how to prepare them?
After passing journal entries for events and transactions, posting them to ledgers, and preparing trial balances, the final step is to prepare final accounts. B
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Accounting Tools and Software
ERP Implementation Guidance for Management Accountants
ERP implementation refers to integrating an ERP system with various modules to improve financial data management, analysis, and decision-making. The ERP impleme
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Financial Management
What are the Differences between Future and Options?
Futures and options are both types of financial derivatives that allow traders to speculate on the future price of an underlying asset. However, there are some