‘Contribution’ is a fund that is equal to the selling price of a product less…

Features of marginal costing are as follows: ●      Marginal costing is used to know the impact…

Let us see why marginal costing is required: ●      Variable cost per unit remains constant; any…

Marginal cost is the change in the total cost when the quantity produced is incremented…

Cash budget comes under the category of financial budget. It is prepared to calculate budgeted…

Flexible budget provides logical comparison. The actual cost at the actual activity is compared with…

PointsFlexible BudgetFixed BudgetFlexibilityDue to its nature of flexibility, it may be quickly re-organized according to…

Our accounting is based on the assumption that a business unit is a going concern.…

Budgets can be categorized in various ways. Let us go through the types of budgets…

Let us go through the terms sequentially. Budget Budget represents the objectives of any organization…