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Tag: Accounting for Management

Operating Costing

Operating (Operational) costs are the expenses which are related to the operation of a business, or to the operation of a device, component, piece of equipment or facility. They are […]

Overhead Cost Allocations

The allocation of certain overhead costs to produced goods is required under the rules of various accounting frameworks. In many businesses, the amount of overhead to be allocated is substantially […]

ABC Analysis

ABC analysis is a method of analysis that divides the subject up into three categories: A, B and C. Category A represents the most valuable products or customers that you have. […]

Subsidiary Books

Subsidiary Books of Account Also known as special purpose books, special purpose subsidiary books, and subsidiary books of accounts are various books recording financial transactions of a similar nature. They […]

Perpetual Inventory Control

Perpetual inventory is a method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software. […]

Preparation of Cost Sheet

A cost sheet shows every expense involved in creating a product. Companies and contractors prepare cost sheets to show clients how much money it costs to provide services, perform repairs […]

Classification of Cost

The following points highlight the five main types of classification of costs. 1. Cost Classification by Nature 2. Cost Classification in Relation to Cost Centre 3. Cost Classification by Time […]

Accounting Concepts

There are a number of conceptual issues that one must understand in order to develop a firm foundation of how accounting works. These basic accounting concepts are as follows: Accruals concept. Revenues […]

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