Learn Financial and Managerial Accounting for Free
Screening Decisions and Preference Decisions: Learning Objectives: Define, explain and give examples of screening and preference decisions. Capital budgeting decisions fall into two broad categories: Screening decisions. Preference decisions. Screening…
Cost Accounting Procedure for Scrap and Waste: (Scrap Accounting) In many manufacturing processes, waste and scrap result from: The processing of materials. Defective and broken parts. Absolute stock. Revisions or…
Scientific Management Definition: Scientific management means the use of scientific methods to determine the "one best way" for a job to be done.
Scatter Graph Method Definition: A method of separating a mixed cost into its fixed and variable elements. Under this method, a regression line is fitted to an array of plotted…
Sales Returns Book: Learning Objectives: Define and explain sales return book. What is a credit note? Prepare a sales returns book and post into ledger. Definition and Explanation: Sales returns…
Sales Mix Definition: The relative proportions in which a company's products are sold. Sales mix is computed by expressing the sales of each product as a percentage of total sales.
Sales Day Book: Definition and Explanation: A sales book is also known as sales day book is a book of original entry in which are recorded the details of credit…
Sales Budget Definition: Sales budget is a detailed schedule showing the expected sales for coming periods; these sales are typically expressed in both dollars and units.
Multiple Regression Definition: An analytical method required in those situations where variations in a dependent variable are caused by more than one factor.
Multiple Predetermined Overhead Rates Definition: A costing system in which there are multiple overhead cost pools with a different predetermined rate for each cost pool, rather than a single predetermined…
Multiple Predetermined Overhead Rates: Learning Objectives of the Article: What are multiple predetermined overhead rates? What is the need of calculating multiple predetermined overhead rates? When a single predetermined overhead…
More About Capital and Revenue Expenditures: Capitalized or Deferred Revenue Expenditures: Where a certain revenue expenditure incurred is of such a nature that its benefit is likely to be spread…
Modified Accelerated Cost Recovery System (MACRS) Definition: A method of depreciation required for income tax purposes that depends on which of nine property classes an asset belongs.
Mixed Cost or Semi-variable Cost: Learning Objective of this Article: Define and explain mixed or semi-variable cost. Give examples of mixed costs. Analyze mixed cost using high-low point method. Definition…
Mixed Cost Definition: Mixed cost is the cost that contains both variable and fixed cost elements. Relevant Terms: Fixed cost Variable cost
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…
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…
Minimum Limit or Minimum Level of Stock: Learning Objective: Definite and explain minimum limit or minimum level of stock. How is minimum limit or minimum level calculated? Definition and Explanation:…
Shamsa Rafique