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Accrued income is an amount earned although not in reality received during the accounting period or till the date of preparation of last accounts for the period concerned. The first result of accrued income is to credit the loss and profit account and to demonstrate the similar in the assets side of the balance sheet.
ADVANTAGES OF STANDARD COSTING 1. It offers a yardstick for measurement of performance. 2. It helps 'Management by Exception'. 3. It allows the management to
Cost Behaviour "Profitability is only around the corner." This is a general expression in the business world; you might have heard or said this yourself only. But, the reality
how do you calculate them
Usefulness of Variance Analysis Carefully note that while prices are being charged to production, it can be done at the actual or standard price. For purposes of making varian
(i) Describe the difference between the balance sheet and the income statement in financial statements of companies. (ii) Give two examples of intangible assets and two exampl
A. Bolero Industries Ltd. has been approached by a customer who would like a special job to be done for her, and is willing to pay $60,000 for it. The job would require the followi
Critically evaluate the product costing and pricing practices actually in use in modern manufacturing organisations inany of the three countries in the Asia Pacific region, prefera
Two firms compete in a homogenous product market where the inverse demand function is P = 10 - 2Q (quantity is measured in millions). Firm 1 has been in business for 1 year, while
Standard Cost and Standard Costing To effectively control the costs of a certain organization, we require a yard stick to measure the real performance against. Traditionally,
Sam Edwards has been the accounting manager for Jade Manufacturing in a highly competitive international market for ten years. Jade Manufacturing produces heavy equipment for two m
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