Entrepreneurship Definition
Sana Ahmed Entrepreneurship Definition: The process whereby an individual or group of individuals uses organized efforts to pursue opportunities to create value and grow by fulfilling wants and needs through innovation and…
Benchmarking Definition
Shamsa Rafique Benchmarking Definition: Benchmarking is the study of organizations that are among the best in the world at performing a particular task. The idea is to study and analyze the reasons…
Engineering Approach Definition
Engineering Approach Definition: A detailed analysis of cost behavior based on an industrial engineer's evaluation of the inputs that are required to carry out a particular activity and of the…
Cost Accounting Procedure for Defective Work
Rubab Ali Cost Accounting Procedure for Defective Work: In the manufacturing processes, imperfections may arise because of faults in materials, labor, or machines. If the unit can be reprocessed on one or…
Endorsement of Bill of Exchange
Endorsement of Bill of Exchange: Learning Objectives: What are the journal entries in the books of drawer, acceptor and endorsee when a bill of exchange is endorsed by the drawer?…
Cash Budget Definition
Abida Rehman Cash Budget Definition: A detailed plan showing how cash resources will be acquired and used over some specific time period. Click here to read full article about cash budget
Batch Level Activities Definition
Batch Level Activities Definition: Activities that are performed each time a batch of goods is handled or processed, regardless of how many units are in a batch. The amount of…
Ending Finished Goods Inventory Budget Definition
Ending Finished Goods Inventory Budget Definition: A budget showing the dollar amount of cost expected to appear on the balance sheet for unsold units at the end of a period.…
Action Analysis Report Definition
Sidra Farid Action Analysis Report Definition A report showing what costs have been assigned to a cost object, such as a product or customer, and how difficult it would be to adjust…
Electronic Data Processing System (EDP System) for Materials Received and Issued
Electronic Data Processing System (EDP System) for Materials Received and Issued: The preceding description of invoice approval and payment was for a manual operation performed by an accounts payable clerk…
Basis of Use System of Depreciation
Basis of Use System of Depreciation: Learning Objectives: Define and explain the basis of use system of depreciation. One of the chief factors causing depreciation is use. For example in…
Cash Budget | Cash Budgeting
Cash Budget | Cash Budgeting: Learning Objectives: Define and explain a cash budget. What is the purpose of a cash budget How to prepare a cash budget. Definition and Explanation:…
Decisional Roles Definition
Decisional Roles Definition: The decisional roles involve around making choices. The four decisional roles include entrepreneur, disturbance handler, resource allocator and negotiator.
Cost Classification for Decision Making (Decision Making Costs)
Cost Classification for Decision Making (Decision Making Costs): Learning objective of this article: Define, explain, and give examples of cost classifications used in making decisions: differential costs, opportunity costs, and…
Capital and Revenue Receipts, Payments, Profits and Losses
Capital and Revenue Receipts, Payments, Profits and Losses: Learning Objectives: Define and explain and give examples of capital and revenue receipts and payments? Define and explain and give examples of…
Account Analysis Definition
Account Analysis Definition: Account analysis is a method for analyzing cost behaviour in which each account under consideration is classified as either variable or fixed based on the analyst's prior…
Decentralized Organization Definition
Decentralized Organization Definition: An organization in which decision making is not confined to a few top executives but rather is spread throughout the organization.
Capital Gearing Ratio
Capital Gearing Ratio: Definition and Explanation: Closely related to solvency ratio is the capital gearing ratio. Capital gearing ratio is mainly used to analyze the capital structure of a company.…