FR IFRS Uncategorized
IAS 1 – Presentation of Financial Statements
International Accounting Standard 1 – IAS 1 Objective This Standard prescribes the basis for presentation of general purpose financial statements to ensure comparability both […]
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ACCA MA Management Accounting
Standard Costing
Standard costing includes setting standard rates to absorb material , labour ,overheads. Setting of standards rates helps in exact valuations , strengthening control over differences […]
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PROCESS COSTING – PART 3
PROCESS COSTING – PART 1 PROCESS COSTING – PART 2 Cases with Opening work in PROGRESS (WIP) Till now we assume that there is no […]
MA Management Accounting
PROCESS COSTING – PART 2
PROCESS COSTING – PART 1 Equivalent Units Continuous production with different processes faced a problem, i.e. how to deal with processes which were not […]
MA Management Accounting
PROCESS COSTING – PART 1
In entities mass production involving, it is difficult to calculate on base of individual units, so to make issues simple costs are accounted making processes […]
ACCA MA Management Accounting
CONTRACT COSTING
Contract Costing Easy to understand “ job order costing on larger scale”. For construction of building and other large scale wok which take considerable […]
AA MA Management Accounting
BATCH COSTING – EXPLAINED
BATCH COSTING Batch costing is similar to job order costing ,the only difference is that costing focus moves from job orders to batches. It is […]
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BREAK EVEN ANALYSIS
Breakeven is the point at which at profit is “ZERO”. It’s important for entity to know how much revenue to revue it has to […]
ACCA MA Management Accounting
Marginal and Absorption Costing Methods
Marginal and Absorption Costing Methods The main difference between marginal costing and absorption costing is that Under Marginal costing all the fixed cost is treated […]
MA Management Accounting
Allocation and Apportionment of Overheads
Allocation of overheads (OH) Apportionment of overheads (OH) Charging to overhead to specific department […]