Management Accounting

Absorption Costing Definition

Absorption Costing Definition Absorption costing is a costing method that includes all manufacturing costs – direct materials, direct labour, and both variable and fixed overhead – as part of the cost of a finished unit of product. This term is synonymous with full costing

Debt to Equity Ratio

Debt to Equity Ratio: Definition: Debt-to-Equity ratio indicates the relationship between the external equities or outsiders funds and the internal equities or shareholders funds. It is also known as external internal equity ratio. It is determined to ascertain soundness of the long term financial

Capital and Revenue Items:

Capital and Revenue Items: Learning Objectives: Define explain and give examples capital and revenue expenditures, receipts, payments, profits and losses. What is the difference between capital and revenue expenditures? What are the exceptions to the general rule of capital and revenue expenditures? Difference between

Balance Sheet

Balance Sheet: Learning Objectives: Define and explain balance sheet. How is a balance sheet prepared? What are the objectives of preparing a balance sheet? Definition and Explanation: A balance sheet is a statement drawn up at the end of each trading period stating therein

Absorption Costing Approach to Pricing

Absorption Costing Approach to Pricing: Learning Objective of the Article: Compute the selling price of a product using the absorption costing approach. What are the advantages or benefits, disadvantages/limitations of absorption costing approach The absorption costing approach to cost plus pricing differs from the

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History of Managerial Accounting

History of Managerial Accounting: Managerial accounting has its roots in the industrial revolution of the 19th century. During this early period, most firms were tightly controlled by a few owner-managers who borrowed based on personal relationships and their personal assets. Since there were no external shareholders and

Need for Managerial Accounting Information

Need for Managerial Accounting Information: Learning objectives of this article: What is the need of managerial accounting in organizations and business firms? Every organization – large and small-has managers. Someone must be responsible for making plans, organizing resources, directing personnel, and controlling operations. Every where mangers carry out

What is Managerial Accounting

What is Managerial Accounting: Learning objectives of this article: What is managerial accounting? What are functions of managerial accounting? Managerial accounting is concerned with providing information to managers that is, people inside an organization who direct and control its operation. In contrast, financial accounting is concerned

Introduction to Managerial Accounting

Introduction to Managerial Accounting:   After studying this chapter you should be able to: Identify the major differences and similarities between financial and managerial accounting. Understand the role of management accountants in an organization. Understand the importance of upholding ethical standards. What is managerial accounting? Managerial accounting is concerned with
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