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Cost Classification as Manufacturing and Non-manufacturing: Learning objectives of this article: Define and explain manufacturing and non-manufacturing costs. What is the difference between manufacturing and non-manufacturing costs costs? Identify and…
Cost Classification as Manufacturing and Non-manufacturing: Learning objectives of this article: Define and explain manufacturing and non-manufacturing costs. What is the difference between manufacturing and non-manufacturing costs costs? Identify and…
Managerial/Management/Cost Accounting Formulas: Cost of Goods Manufactured, Sold, and Income Statement Formulas Cost Volume Profit (CVP) Formulas
Diminishing Balance Method of Depreciation: Learning Objectives: Define, explain and give example of the diminishing balance method/written down value method/reducing installment method? What are advantages and disadvantages of diminishing balance…
Managerial or Management or Cost Accounting Terms and Definitions: Following are the most important managerial or management or cost accounting terms. These terms are alphabetically arranged. This arrangement makes easy…
Difficulties Encountered in Process Costing Procedures: Learning objectives of this article: What are the difficulties or Limitations in a process costing procedure? Certain difficulties likely to be encountered in actual…
Difficulties / Problems in Costing by Products and Joint Products: By products and joint products are difficult to cost because a true joint cost is indivisible. For example, an ore…
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,…
Learning Organization Definition: Learning organization is an organization that has developed the capacity to continuously learn, adapt, and change.
Differential Revenue Definition: Differential revenue is the difference in revenue between any two alternatives. Example: Revenue from first alternative = $5000; Revenue from second alternative = $4000; Differential revenue =…
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.
Differential Cost Definition: Any cost that differs between alternatives in a decision-making situation. In managerial accounting, this term is synonymous with avoidable cost and relevant cost. Also see Incremental cost.…
Negative Financial Leverage Definition: Negative financial leverage is a situation in which the fixed return to a company's creditors and preferred stockholders is greater than the return on total assets.…
Distinction/Difference Between Trial Balance and Balance Sheet: Learning Objectives: What is the difference between trial balance and balance sheet? The following are the points of distinction/difference between trial balance and…
Managerial (Management) Accounting Definition: The phase of accounting concerned with providing information to managers for use in planning and controlling operations and in decision making. Click here to read more…
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…
Manager Definition: Someone who works with and through other people by coordinating their work activities in order to accomplish organizational goals. OR One who handles, controls, or directs, especially: One…
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…
Shamsa Rafique 
Abida Rehman 
Sana Ahmed 
Sidra Farid