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DEFINITION OF COST ACCOUNTING
DEFINITION: as said by the Institute of Cost and Works Accountants (ICWA), London, Cost accounting is " the method of accounting for costs from the point at which spending is incurred or committed to the concern of its final relationship with cost units and cost centers .In its widest practice it embraces the research of statistical data, the request of cost control methods and the ascertainment of the productivity of activities planned or carried out ."
accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables
One or more phases in the operation cannot supply all the items it makes concurrently.
On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bon
Why is a provision for depreciation made in the financial statements? A to charge the cost of non-current assets against profits B to make a provision for repairs C to mak
What are the issues related with Accounts receivable? Ans) As the Accounts Receivable, you will: ? Oversee and determine all issues related to cash application to make sure
office supplies on hand at year end amounted to 3000
What are the steps for Closing entries There is a certain order that should be used to close accounts: REID 1. Balance of the total R evenue to Income Summary 2. Bal
Q. What is trial balance? The firm credits two Accounts Payable and accounts Cash in this one entry. But the dollar totals of the debits and credits are equal. Cyclically accou
Fundamental of Accounting 1. Explain the concept of accrued income with the help of an example. 2. Explain the five disadvantages of Single Entry System? 3. Explain the s
leagl provision of partner ship accounts
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