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DEFINITION OF BUDGET
As per the Institute of Cost & Management (ICMA), London, a BUDGET is 'a quantitative statement and / or financial, prepared and approved prior to a defined period of time, of the policy to be pursued in that period for the purpose of attaining a given objective. It may consist of income, expenditure and the employment of capital'.
Both the parts, Profit and Loss Account and Trading Account of last account are interdependent upon each other. Gross Profit or loss plays a very important role in the calculation
MARGINAL COSTING Vs DIRECT COSTING Direct costing is the method where only direct costs are measured while calculating the cost of the product. Indirect costs are met in opposi
Manufacturing Concern to Organization There are three manufacturing centres as Making, Packing and Finishing. These are supported through five support departments, namely Mai
how to prepare contract account
Dixon Corporation was established on January 1, Year 1. The firm has 2 divisions, Division A and Division B. Division A manufactures standard carpets, and Division B manufactures
given formula
The Zooline Company (Pty) Ltd is an American based company that focuses on the LSM 8 -10 markets. They do vehicle interiors, raise or lower suspensions and install top end sound sy
Amazing acrobatics performs acrobatics in stadiums around the world. The average show sells about 1,000 tickets at $60 per ticket. Each show requires a team of 45 highly trained sp
Flexible budgeting is a reporting system wherin the
ANGLE OF INCIDENCE CHART
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