Posted inAccounting Basics Classification of Cash Flows Posted by admin August 18, 2021 According to AS-3 (Revised), cash flows should be classified in three main categories: â—Ź Cash Flow…
Posted inAccounting Basics Management Vs. Financial Accounting Posted by admin August 18, 2021 All monetary transactions are recorded in the books of accounts on historical cost basis. Financial…
Posted inAccounting Basics Management vs. Cost Accounting Posted by admin August 18, 2021 Management accounting collects data from cost accounting and financial accounting. Thereafter, it analyzes and interprets…
Posted inAccounting Basics Dual Aspect Concept Posted by admin August 18, 2021 There must be a double entry to complete any financial transaction, means debit should be…
Posted inAccounting Basics Objectives of Management Accounting Posted by admin August 18, 2021 Let us go through the objectives of management accounting: Planning and Formulating Policies In the…
Posted inAccounting Basics Characteristics of Management Accounting Posted by admin August 18, 2021 Management accounting provides data to the management on the basis of which they take decisions…
Posted inAccounting Basics Management Accounting – Introduction Posted by admin August 18, 2021 Institute of Chartered Accountants of England and Wales defines management accounting as: Any worm of…
Posted inAccounting Basics Break-Even Chart Posted by admin August 18, 2021 Break-Even Chart is the most useful graphical representation of marginal costing. It converts accounting data…
Posted inAccounting Basics Marginal Cost Equation Posted by admin August 18, 2021 Equations for elements of cost are as follows: Sales = Variable costs + Fixed Expenses…
Posted inAccounting Basics Cost Accounting – CVP Analysis Posted by admin August 18, 2021 Cost-Volume-Profit (CVP) Analysis is also known as Break–Even Analysis. Every business organization works to maximize…