Materials Mix and Yield Variance
Shamsa Rafique Materials Mix and Yield Variance: Learning Objective of the article: Define and explain materials mix and yield variances. What are the formulas of materials mix and yield variances? Calculate materials…
Parties Interested in Accounting Information
Rubab Ali Parties Interested in Accounting Information: Learning Objectives: Explain, who may be interested in accounting information of a company or firm? Name the parties interested in accounting information and state their…
Quality Management Definition
Sidra Farid Quality Management Definition: Quality management is a philosophy of management that is driven by continual improvement and responding to customer needs and expectations.
Quality Costs – Types , Analysis and Prevention
Cost of Quality : Learning objective of this article: Identify the four types of quality costs and explain how they interact (Classification). Categories of quality cost. Prevention appraisal failure model…
Quality Costs Definition
Quality Costs Definition: Costs that are incurred to prevent defective products from falling into the hands of customers or that are incurred as a result of defective units. There are…
Quality Circles Definition
Quality Circles Definition Small groups of employees that meet on a regular basis to discuss ways of improving quality.
Quality Cost Report Definition
Quality Cost Report Definition: A report that details appraisal cost, prevention cost, internal failure cost, and external failure cost. Click here to read a detailed article about quality cost report.
Participative Budgeting or Self Imposed Budgeting
Participative Budgeting or Self Imposed Budgeting: Learning Objective of the article: Define and explain the term "self imposed or participative budgeting" in managerial accounting. Explain the importance and use of…
Participative Budget Definition
Participative Budget Definition: A method of preparing budgets in which managers prepare their own budgets. These budgets are then reviewed by the manager's supervisor, and any issues are resolved by…
Other Materials Costing Methods – Month End Average Cost | Market Price at Date of Issue | Standard Cost
Sana Ahmed Other Materials Costing Methods - Month End Average Cost | Market Price at Date of Issue | Standard Cost: Although first in first out (FIFO), average cost, and last in…
Dynamic Programming
Abida Rehman Dynamic Programming: Learning Objective of the Article: Define and explain the term "dynamic programming". In which situation it is used to optimize the the use of resources. Definition and Explanation…
Drawing, Acceptance, and Payment of Bills of Exchange
Drawing, Acceptance, and Payment of Bills of Exchange: Learning Objectives: Make journal entries in the books of creditor and debtor at the time of drawing, acceptance, and payment of a…
Mix Variance and Yield Variance
Mix Variance and Yield Variance: Learning Objective of the article: Define and explain Mix Variance and yield variances. Why mix and yield variances are calculated? Basically, the establishment of standard…
Double Entry System of Bookkeeping
Double Entry System of Bookkeeping: Learning Objectives: Define and explain double entry system of book-keeping. What are the advantages and disadvantages of double entry system of book-keeping? The double entry…
Organizational Culture Definition
Organizational Culture Definition: Organizational culture system of shared meaning and beliefs held by organizational members that determines, in large degree, how employees act.
Divisional Autonomy and Sub-optimization
Divisional Autonomy and Sub-optimization: How much autonomy should be granted to divisions in setting their own transfer prices and in making decisions concerning whether to sell internally or to sell…
Organizational Behavior Definition
Organizational Behavior Definition: Organizational behavior is the field of study concerned with the actions (behavior) of people at work.
Organization Sustaining Activities Definition
Organization Sustaining Activities Definition: Organizational sustaining activities are those activities that are carried out regardless of which customers are served, which products are produced, how many batches are run, or…