Posted inAccounting Basics
Management Accounting – Cash Flow
It is very important for a business to keep adequate cash in hand to meet…
Posted inAccounting Basics
Treatment of Some Typical Items
The treatment of some typical cash flow items is discussed below. Extraordinary Items Inflow or…
Posted inAccounting Basics
Classification of Cash Flows
According to AS-3 (Revised), cash flows should be classified in three main categories: ● Cash Flow…
Posted inAccounting Basics
Management Vs. Financial Accounting
All monetary transactions are recorded in the books of accounts on historical cost basis. Financial…
Posted inAccounting Basics
Management vs. Cost Accounting
Management accounting collects data from cost accounting and financial accounting. Thereafter, it analyzes and interprets…
Posted inAccounting Basics
Dual Aspect Concept
There must be a double entry to complete any financial transaction, means debit should be…
Posted inAccounting Basics
Objectives of Management Accounting
Let us go through the objectives of management accounting: Planning and Formulating Policies In the…
Posted inAccounting Basics
Characteristics of Management Accounting
Management accounting provides data to the management on the basis of which they take decisions…
Posted inAccounting Basics
Management Accounting – Introduction
Institute of Chartered Accountants of England and Wales defines management accounting as: Any worm of…
Posted inAccounting Basics
Break-Even Chart
Break-Even Chart is the most useful graphical representation of marginal costing. It converts accounting data…