Sana Archive
Least-Squares Regression Method Definition: A method of separating a mixed cost into its fixed and variable elements by fitting a regression line that minimizes the sum of the squared errors. Recommended Books ! Or Download E accounting book in MS-word format for just 20
Least Cost Decisions: Revenues are not directly involved in some decisions. For example, a company that does not charge for delivery service may need to replace an old delivery truck, or a company may be trying to decide whether to lease or to buy
Learning Organization Definition: Learning organization is an organization that has developed the capacity to continuously learn, adapt, and change.
Leading Definition: Management function that involves motivating subordinates, influencing individuals or teams as they work, selecting the most effective communication channels, or dealing in any way with employ behavior issues.
Direct Labor Yield Variance: Learning Objective of the article: Define and explain labor yield variances. Calculate labor yield variance. Rate and efficiency variances of labor are explained on direct labor rate variance page and direct labor efficiency variance page respectively. Here, our focus is
Labor Rate Variance Definition: A measure of the difference between the actual hourly labor rate and the standard rate, multiplied by the number of hours worked during the period. Relevant Terms: Labor rate variance Labor Efficiency Variance Materials price variance Materials quantity variance
Labor Efficiency Variance Definition: A measure of the difference between the actual hours taken to complete a task and the standard hours allowed, multiplied by the standard hourly labor rate. Relevant Terms: Labor rate variance Labor Efficiency Variance Materials price variance Materials quantity variance
Direct Labor Budget: Learning Objectives: Define and explain direct labor budget. Prepare direct labor budget. Definition and explanation of direct labor budget Example Definition and Explanation: The direct labor budget is developed from the production budget. Direct labor requirements must be computed so that
Knowledge Management Definition: Cultivating a learning culture where organizational members symbolically gather knowledge and share it with others in the organization so as to achieve better performance.
KANBANS: (Kanban Ststem) Learning Objectives of the Article: Define and explain KANBAN. Where and how KANBANS are used. What are advantages and disadvantages of using KANBAN system? Definition and explanation Using KANBANS of production line When and how KANBANS are effective Single card Kanban
Just in Time (JIT) Definition: Just In Time (JIT) is a production and inventory control system in which materials are purchased and units are produced only as needed to meet actual customer demand. Click here to read full article about just in time (JIT)
Just in Time (JIT) Manufacturing and Inventory Control System: Learning objectives of the article: Define and explain the concept of just in time manufacturing and inventory control system. What are advantages and disadvantages of just in time manufacturing system / JIT Company? Highlight six
Journal Proper: Learning Objectives: Define and explain journal proper. When a journal proper is used? Definition and Explanation: Journal proper is book of original entry (simple journal) in which miscellaneous credit transactions which do not fit in any other books are recorded. It is
Journal: Learning Objectives: Define and explain journal. What are characteristics of journal? What are its advantages and how a journal is prepared? Definition and Explanation: The word “journal” has been derived from the French word “jour”. Jour means day. So journal means daily. Transactions
Joint Venture Memorandum Account – An Alternative Method: Learning Objectives: What is a memorandum joint venture account? Prepare a memorandum joint venture account. The is another method to record the transactions in the books of the various parties. Under this method the joint venture
Joint Venture Accounting Exercises and Problems: Learning Objectives: Prepare journal entries and joint venture accounts in the books of parties doing joint venture business. How to solve a joint venture problem. Problem 1 – Journal Entries, Joint Venture Account Co-venturer Accounts: A and B
Joint Venture Journal Entries: Learning Objectives: What is accounting treatment of joint ventures? Prepare journal entries in the books of parties doing joint venture business. There are two methods in which joint venture accounts can be kept These are: Where no separate books are
Joint Products Definition: Two or more items that are produced from a common input are called joint products.
