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Purchase of Supplies, Services, and Repairs: Learning Objective of the article: Explain the procedure of Purchasing supplies, services and repairs. The procedure followed in purchasing productive materials should apply to…
Working Capital Turnover Ratio: Definition: Working capital turnover ratio indicates the velocity of the utilization of net working capital. This ratio represents the number of times the working capital is…
Workplace Spirituality Definition: The recognition that people have an inner life that nourishes is nourished by meaningful work that takes place in the context of community.
Typical Capital Budgeting Decisions: Learning Objectives: What type of business decisions require capital budgeting analysis? What types of business decisions require capital budgeting analysis? Business decisions that require capital budgeting…
Two Column Cash Book / Double Column Cash Book : Learning Objectives: Define and explain a two/double column cash book. Prepare a two column cash book. What is the difference…
Turnover Definition: Turnover is the amount of sales generated in an investment center for each dollar invested in operating assets. It is computed by dividing sales by the average operating…
Preparing Trial Balance / Accuracy of Ledger: Learning Objectives: Define and explain trial balance. What are the advantages of preparing a trial balance? What are the different methods of preparing…
Trend Percentage: Definition and Explanation: Horizontal analysis of financial statements can also be carried out by computing trend percentages. Trend percentage states several years' financial data in terms of a…
Transfer Pricing Definition: The price charged when one division or segment provides goods or services to another division or segment of an organization.
Trend Analysis Definition: Trend analysis is a side-by-side comparison of two or more years' financial statements.
Transfer of Materials Cost to Finished Production--Inventory Valuation: The ultimate, intended destination of direct materials is finished products or finished goods delivered to customers. The cost of materials used on…
Transfer at Cost to the Selling Division: Many companies set transfer prices at either the variable cost or full (absorption) cost incurred by the selling division. Although the cost approach…
Learning Objectives: Define and explain trading account. (What is trading Account ?) What are the items of a trading account. Prepare the format of trading account. What are advantages of…
Trade Discount Definition: Trade discount is an allowance or rebate from the scheduled price granted by the seller to buyer. In other words, Trade discount is an allowance made from…
Traceable Fixed Cost Definition: Traceable fixed cost is a fixed cost that is incurred because of the existence of a particular business segment.
Learning Objectives: Define and explain traceable and common fixed costs or expenses. What is the difference between traceable and common fixed costs? The most puzzling aspect of segmented income statements…
Total Quality Management (TQM) Definition: Total quality management A approach to continuous improvement that focuses on customers and using teams of front-line workers to systematically identify and solve problems. This…
Total Quality Management (TQM) System: Learning objective of the article: Define and explain total quality management (TQM). What are the advantages and disadvantages of total quality management. Definition and explanation…
Sidra Farid