STANDARD COSTING
Standard costing is a technique that establishes predetermined estimates of the cost of products and services and compares these costs with the actual costs as they incur. Standard costing can be considered as a yardstick to measure the efficiency with the actual cost incurred. Hence, standard costing is system of costing which makes a comparison between the standard cost of each product or service with...
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VOYAGE ACCOUNTING Definition A voyage account is prepared by those who engage in the business of marine ship to find the financial...
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INTRODUCTION There are two books of accounts, namely: 1. Principal books. 2. Subsidiary books. Let it be noted that the two books are ...
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PARTIAL AUDIT Introductio n A partial audit is an audit that is conducted considering the particular area of accounting. Under ... -
INTRODUCTION Maximization of profit is the main objective of each and every business. For the fulfillment of this objective, the firm ... -
SINGLE ENTRY AND INCOMPLETE RECORDS Introduction Single entry system is an incomplete way of recording financial transactions. Thi... -
INTRODUCTION External sources refer to recruiting employees from outside the organization. In fact, a pool of qualifi...