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Flexible Budget
Flexible budget provides logical comparison. The actual cost at the actual activity is compared with…
Posted inAccounting Basics
Flexible Budget Vs. Fixed Budget
PointsFlexible BudgetFixed BudgetFlexibilityDue to its nature of flexibility, it may be quickly re-organized according to…
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Going Concern Concept
Our accounting is based on the assumption that a business unit is a going concern.…
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Types of Budgets
Budgets can be categorized in various ways. Let us go through the types of budgets…
Posted inAccounting Basics
Budget, Budgeting, and Budgetary Control
Let us go through the terms sequentially. Budget Budget represents the objectives of any organization…
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Cost Accounting – Budgeting Analysis
We are all well-familiar with the term budget. Budgeting is a powerful tool that helps the…
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Tools and Techniques of Cost Reduction
The following tools and techniques are used to reduce costs: ● Budgetary Control ● Standard Costing ● Simplification…
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Material Control
Cost reduction program should be run by purchasing economical and more useful material. Economic Order…
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Personal Management
Cost reduction programs can be run using staff welfare measures and improving labor relation. Introduction…
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Financial Management
Attention should be given to the following areas: ● If there is any over-investment. ● How much…