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Describe the Principles of cost accounting Principles of cost accounting: The fundamental principles of costing are identical and are given below: 1. Cost is related to
what is the topic about? what are the practical implications? what are the practical criticisms?
ABC Analysis (Pareto Analysis) In ordinary parlance, ABC analysis can be best compared with our class society where the population is categorized into Top, Middle and Lower cla
Vogel's Approximation Method (VAM) This method is a heuristic and usually provides a better starting solution than the two methods described above. However, VAM generally yield
HOW TO CALCULATE MATERIAL ACCOUNTING
Market value There is universal agreement that in competitive markets a market value based transfer price should achieve optimal results. In this circumstance, it can be expected
What is performance budgeting The concept of performance budgeting is used mainly in the government and public sector undertakings. It projects the government activities an
JOINT PRODUCT DECISIONS When a manufacturing Company carries out a process operation in which 2 or more joint products are made from a common process a number of decision troub
Planning Planning is the fundamental function of the management by means of which the managers decide: What goals are to be accomplished How they will be accomplished.
what is the computation procedure of accounting rate of return?
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