Tools and Techniques of Management Accounting
Tools of Management accounting The various tools used at present in management accounting may be classified into the following groups. 1. Financial Planning The main objective of any business organization […]
Sales Variances
A sales variance is the monetary difference between actual and budgeted sales. It is used to analyze changes in sales levels over time. There are two general reasons why a […]
Concept of Material Accounting
Material costing is the process of determining the costs at which inventory items are recorded into stock, as well as their subsequent valuation in the accounting records. We deal with these concepts separately. Material Costing […]
Pricing of Material issues
Actual Cost Method: Where materials are purchased specially for a specific job, actual cost of materials is charged to that job. Such materials will normally be stored separately and issued […]
Treatment of Material Losses
The material requirements of production are issued on the basis of material requisitions. The output is obtained along with wastage, scrap, spoilages and defectives. The accurate cost of output can […]
Classification and Departmentalization of overhead
Functional Classification of Overhead: When overhead expenses are classified with reference to major activity divisions of a concern, it is called functional classification of overhead. This classification is necessary for […]
Absorption of overheads
According to CIMA, absorption of overhead means “the process of absorbing all overhead costs allocated or apportioned over a particular cost centre or production department by the units produced”. In […]
Unit Costing
Unit costing is known as “output” or “single output” costing. Unit costing is followed by the concern, which produces a single product on large scale continuously. The cost units are […]
Joint and By-Product Costing
A joint cost is a cost that benefits more than one product, while a by-product is a product that is a minor result of a production process and which has minor sales. Joint costing or by-product […]
Integral and Non-integral system
Integral System: Integral or Integrated system is a system of accounting under which only one set of account books is maintained to record both the Cost and Financial transactions. The […]
Nature and Scope of Cost Accounting
Scope of Cost Accounting The term scope here refers to field of activity. Cost accounting refers to the process of determining the cost of a particular product or activity. […]
Introduction to Companies Act, 2013; Important Definitions
With a phenomenal change in the domestic and international economic landscape, the Government of India decided to replace the Companies Act, 1956 with a new legislation. The Companies Act, 2013, […]
Incorporation of a company and matters incidental thereto
The Companies Act, 2013 details the regulations and company registration papers essential for the incorporation of a company. In this article, we will understand all such rules and documents listed […]
Public Offer & Private Placement
A primary market refers to that segment of capital markets that deals with the new issues of securities. In this market, companies obtain funding by selling their companies shares to […]
Acceptance of Deposits by Companies
‘‘Depositor’’ means Any member of the company who has made a deposit with the company u/s. 73(2); or Any person who has made a deposit with an eligible company u/s. […]
Registration of charges
Charge is the security given for securing the loan or debentures. Security can be provided wither by way of Mortgage/Pledge/Hypothecation. There are two types of Charges a) Fixed Charge: Fixed charge […]
