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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 ."
difference between credit and debit
HOW TO DO DOUBLE ENTRY QUESTIONS
Q. Explain about Depreciation expense? Depreciation expense is the sum of asset cost assigned as an expense to a particular period. The method of recording depreciation expense
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
Q. Illustrate the Financial accounting process? In this section we describe the accounting equation as the framework for the entire accounting process. Then we demonstrate you
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in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer
what is going concern concept
Q. Principles of consolidation? The consolidated financial statements of the Company comprise the accounts of The Walt Disney Company and its subsidiaries after elimination of
Liquid Extracts Company makes a line of fruit extracts for home use in making wine, jams and jellies, pies and meat sauces. Fruits enter the production process in pounds; the prod
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