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Examples of qualitative factors include customer satisfaction with the company’s products, pending litigation that harms a company’s reputation, a change ...
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Balance Sheet is a Statement showing financial position of the business on a particular date. It is prepared after preparing trading and profit and loss a...
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Electricity is a good example of a semi-variable cost. The base rate for service may be constant, but as production grows, power consumption and the compa...
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Invoices do need an invoice number. Often clients will reject invoices that do not provide one, because it makes it impossible or difficult to track payme...
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The concept of relevant cost is used to eliminate unnecessary data that could complicate the decision-making process. As an example, relevant cost is used...
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Limitations of Financial Accounting – Historical Data, Improper Classification of Expenses, Price Fixation is Difficult, No System to Control Material Cos...
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Adjustment Required at the Time of Change in Profit-Sharing Ratio: (i) Adjustment of Goodwill. (ii) Adjustment of Gain (Profit)/Loss arising from the Reva...
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A journal entry is a record of the business transactions in the accounting books of a business. A properly documented journal entry consists of the correc...
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Your investment account can be an IRA, 401k, or any brokerage account that hold funds made up of stocks, bonds, and other investments. What are examples o...
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It is also called as ‘blanket overhead absorption rate’. It is a one single overhead absorption rate for the whole of the factory. It may be computed as f...
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