Storage and Use of Materials
Abida Rehman
Storage and Use of Materials: Materials, together with copy of the receiving report, or forwarded to the storeroom from the receiving or inspection department. The storekeeper and assistants are responsible…
Abida Rehman
Strong Culture Definition
Strong Culture Definition: Organizations in which the key values are intensely held and widely shared.
Subdivision of Journal
Subdivision of Journal: Learning Objectives: What is subdivision of journal? Define and explain cash book and bank reconciliation statement What are the different types of cash book? Write single, double,…
Sub-optimization Definition
Sub-optimization Definition: An overall level of profitability that is less than a segment or a company is capable of earning.
Sum of the Years’ Digits Method of Depreciation
Sum of the Years’ Digits Method of Depreciation: Learning Objectives: Explain the sum of the years’ digits method of depreciation. Definition and Explanation: Sum of the Years’ Digits Method an…
Sunk Cost Definition
Sunk Cost Definition: Sunk cost is any cost that has already been incurred and that cannot be changed by any decision made now or in the future.
Symbolic View of Management Definition
Symbolic View of Management Definition: The view that managers have only a limited effect on substantive organizational outcomes because of the large number of factors outside their control.
System Definition
System Definition: System is a set of interrelated and interdependent parts arranged in a manner that produces a unified whole. System may be a closed system or an open system.
Systems of Accounting
Systems of Accounting: Learning Objectives: Define and explain cash system and accrual system of accounting. There are basically two systems of accounting: Cash System of Accounting. Accrual System of Accounting.…
Who is A Certified Management Accountant
Who is A Certified Management Accountant: A management accountant who possesses the necessary qualification and who possesses a rigorous professional exam earns the right to be known as a certified…
Definition and Explanation of Capital Budgeting
Definition and Explanation of Capital Budgeting: Learning Objective of this article: Define and explain the term “capital budgeting”. What is meant by the term “investment in capital budgeting decisions”? Explain…
Weighted Average Method–Allocating Joint Product Cost
Weighted Average Method–Allocating Joint Product Cost: Learning Objectives: Explain the procedure of allocating joint product cost when weighted average method is used. many industries, the previously described methods do not…
Weighted Average Method Definition
Weighted Average Method Definition: Issuing materials at an average cost assumes that each lot taken from the storeroom is composed of uniform quantities from each shipment in stock at the…
Working Capital Definition
Working Capital Definition: The excess of current assets over current liabilities. Working Capital = Current Assets − Current Liabilities
Workforce Diversity Definition
Workforce Diversity Definition: A workforce that is more heterogeneous in terms of gender, race, ethnicity, age, and other characteristics that reflect differences.
Work-in-Process Definition
Work-in-Process Definition: Units of product that are only partially complete and will require further work before they are ready for sale to a customer.
Revaluation Method of Depreciation
Revaluation Method of Depreciation: Learning Objectives: Define and explain the revaluation method of depreciation. When and where this method is used? As the name implies under revaluation method, the assets…
Return on Investment (ROI) Definition
Return on Investment (ROI) Definition: Net operating income divided by average operating assets. It also equals margin multiplied by turnover.