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Financial Accounting Concepts
The Meaning of Consignment Accounting
Consignment refers to selling the goods manufactured by a company through an agent. This sales method is especially popular among businesses located abroad who
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Financial Accounting Concepts
What are various methods of valuation of goodwill?
Goodwill is an intangible asset that represents the value of a business’s reputation, customer base, brand recognition, and other non-physical assets. Val
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Cost Accounting
What are Direct Expenses in Costing?
A direct expense is an expenditure that can be easily traced back to a specific cost centre within a company. Direct expenses are also known as chargeable expen
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Cost Accounting
Direct Materials- Meaning and Examples
Direct Materials are those materials that can be identified in the product and can be conveniently measured and directly charged to the product to the product.
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Financial Management
Primary Market and Secondary Market
In order to make it easier to buy and sell securities, the primary market and secondary market are two crucial elements of the financial ecosystem. Although the
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Corporate Accounting
Treatment of Goodwill in a Business Purchase
The treatment of goodwill in a business purchase is a crucial aspect that can impact the overall financial picture and success of the transaction. Goodwill repr
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Financial Accounting Concepts
What Are Accounting Principles, Concepts and Conventions?
Accounting is a fundamental aspect of running a business. It involves recording, analyzing, and interpreting financial transactions to provide an accurate pictu
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Financial Accounting Concepts
Accounting Policies, Selection and Changes in Accounting Policies
Accounting Policies Accounting policies are the specific policies and procedures used by a company to prepare its financial statements. These include the method
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IFRS
What Are the Differences between IFRS and GAAP?
GAAP stands for Generally Accepted Accounting Principles and is used in accounting and financial reporting worldwide. IFRS stands for International Financial Re
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Cost Accounting
What are various types of sales variances in cost accounting
Sales variance is the difference between the standard or expected revenue and the actual revenue. It is different from cost variances because cost variances occ
