Posted inFeatured
Posted inAccounting Basics
Flexible Budget Vs. Fixed Budget
PointsFlexible BudgetFixed BudgetFlexibilityDue to its nature of flexibility, it may be quickly re-organized according to…
Posted inAccounting Basics
Going Concern Concept
Our accounting is based on the assumption that a business unit is a going concern.…
Posted inAccounting Basics
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…
Posted inAccounting Basics
Cost Accounting – Budgeting Analysis
We are all well-familiar with the term budget. Budgeting is a powerful tool that helps the…
Posted inAccounting Basics
Tools and Techniques of Cost Reduction
The following tools and techniques are used to reduce costs: ● Budgetary Control ● Standard Costing ● Simplification…
Posted inAccounting Basics
Material Control
Cost reduction program should be run by purchasing economical and more useful material. Economic Order…
Posted inAccounting Basics
Personal Management
Cost reduction programs can be run using staff welfare measures and improving labor relation. Introduction…
Posted inAccounting Basics
Financial Management
Attention should be given to the following areas: ● If there is any over-investment. ● How much…
Posted inAccounting Basics
Fields Covered under the Cost Reduction Program
A number of fields come under the scope of cost reduction. They are discussed below.…