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Ending Finished Goods Inventory Budget: Learning Objective of the article: Define and explain ending finished goods inventory budget. Prepare a manufacturing overhead budget. After preparing sales budget, production budget, direct…
Joint Products Definition: Two or more items that are produced from a common input are called joint products.
American Institute of Certified Public Accountants (AICPA) Cost or Market Rules--Inventory Valuation The American Institute of Certified Public Accountants (AICPA) moved away from the traditional cost or market, whichever is…
Depreciation of Various Assets: Learning Objectives: How should the depreciation on various assets be calculated?. We discuss below the problem of depreciating some given assets. Freehold Land and Building: It…
After Tax Cost definition The amount of net cash outflow resulting from a tax-deductible cash expense after income tax effects have been considered. After tax cost of debt The amount…
Intranet Definition: An internal organizational communication system that uses internet technology and is accessible only by organizational employees.
Interpersonal Roles Definition: Interpersonal roles are those roles that involve people and other duties that are ceremonial and symbolic in nature. The three interpersonal roles include being a figure head,…
After-Tax Benefit Definition The amount of net cash inflow realized from a taxable cash receipt after income tax effects have been considered. The amount is determined by multiplying the taxable…
Joint Product Cost Definition: A joint cost may be defined as that cost which arises from the common processing or manufacturing of products produced from a common raw material. Whenever…
Joint Product Cost Analysis for Managerial Decisions and Profitability Analysis: Learning Objectives: What is the importance of joint product cost analysis for management. The Securities and Exchange Commission requires that…
International Aspects of Transfer Pricing: The objective of transfer pricing change when multinational corporations involved and the goods and services being transferred cross international borders. The objectives of international transfer…
International Aspects of Quality-ISO 9000 Quality Standards: Many of the tools used in quality management today were developed in Japan after World War II. In statistical process control, Japanese companies…
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International Aspects of Budgeting: A multinational company faces special problems when preparing a budget. The problems arise because of fluctuations in foreign currency exchange rates, the high inflation rates found…
Job Order Costing System Definition: A costing system used in situations where many different products, jobs, or services are produced each period. Click here to read detailed about job order…
Internal Rate of Return Definition: The discount rate at which the net present value of an investment project is zero; thus, the internal rate of return represents the interest Yield…
Cycle Time Definition: Cycle time is the time required to make a completed unit of product starting with raw materials. Cycle time is also known as throughput time.
Application of Manufacturing Overhead Cost in Job Order Costing: Learning objective of this article: Define and explain predetermined manufacturing overhead applied to work in process rate, how is it calculated?…
Shamsa Rafique 
Sana Ahmed 
Sidra Farid 
Abida Rehman