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Cost Accounting
What is Labour Turnover in Cost Accounting?
Labour turnover is a crucial metric in cost accounting that measures the rate at which employees leave a company and are replaced by new employees. A high rate
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Financial Accounting Concepts
What are Liquidity Ratios? – Meaning and Formula
Liquidity ratios measure the short-term financial solvency of a business. Here the short term refers to a period of 12 months or lesser. Investors typically use
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Financial Accounting Concepts
Understanding the Face Value of a Share: A Beginner’s Guide
If you’re new to the stock market, you may have heard the term “face value” being used when referring to shares. But what does it actually mea
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Cost Accounting
Pros and Cons of the Traditional Method of Calculating Overhead
Calculating overhead is an essential part of determining the true cost of goods and services in a business. Overhead costs are indirect costs, such as rent, uti
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Financial Accounting Concepts
ECO-14 Accountancy II – Solved IGNOU Assignment
Assignment Code: ECO-14/TMA/2021-22 What are the different types of branches? Explain various methods of keeping branch accounts in the books of the Head Office
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Financial Accounting Concepts
What is the Matching Principle of Accounting?
The Matching Principle is a fundamental accounting concept that aims to ensure that expenses are recognized in the same period as the related revenues. It is on
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Financial Accounting Concepts
Difference between trial balance and balance sheet
The balance sheet and trial balance are two of the most important financial statements in accounting. While they both play crucial roles in presenting a company
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Cost Accounting
What is Reorder Level in Cost Accounting?
Introduction Cost accounting is essential for businesses to understand their costs and make informed decisions. One of the key concepts in cost accounting is th
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Cost Accounting
What is unit cost and how to compute unit costs?
Unit Cost The unit cost (also known as unit price) of output (production) is an estimation of the total cost required to produce the output. The unit cost of th
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Cost Accounting
What is Job Costing? Advantages and Disadvantages
Job costing is a cost accounting system that allocates the costs of producing a good or service to the particular products and services of the company that crea