Cash Discount Definition
Rubab Ali Cash Discount Definition: It is an allowance or deduction allowance by a creditors to a debtor. In other words, cash discount is an allowance made by the supplier or creditor…
Static Budget Definition
Shamsa Rafique Static Budget Definition: A budget designed for only one level of activity.
Privacy Policy
Privacy Policy: Our Commitment To Privacy Your privacy is important to us. To better protect your privacy we provide this notice explaining our online information practices and the choices you…
Purchase of Productive Materials
Purchase of Productive Materials: Learning Objective: Explain the procedure of purchasing productive materials. The actual purchase of all materials is usually made by the purchasing department headed by a general…
Purchases Day Book
Purchase Day Book: Learning Objectives: Define and explain purchases day book. What are the ruling and posting of the purchases book? Prepare a purchases day book or Sales day book.…
Prevention Cost Definition
Prevention Cost Definition: Prevention costs are those costs that are incurred to keep defects from occurring.
Cash Flow Statement
Cash Flow Statement Definition and Explanation of Cash flow statement: The purpose of the statement of cash flows is to highlight the major activities that directly and indirectly impact cash…
Understanding Cash Flow Statement-Format and Sections
Understanding Cash Flow Statement-Format and Sections: Contents: Introduction to cash flow statement Sections of cash flow statement Format of the cash flow statement Introduction to cash flow statement: Three major…
Profit Planning or Budgeting
Sana Ahmed Learning Objectives: Define and explain the terms "profit planning" and "budgeting". What is the difference between planning and control? What are the advantages and disadvantages of budgeting? Contents: Definition and…
Statement of Affairs
Statement of Affairs method: Learning Objectives: Define and explain statement of affairs. What is the purpose of preparing a statement of affairs? Prepare the format of statement of affairs. …
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…
Strong Culture Definition
Strong Culture Definition: Organizations in which the key values are intensely held and widely shared.
Purchases Returns Book
Purchases Returns Book: Definition and Explanation: Purchases returns book is a book in which the goods returned to suppliers are recorded. It is also called returns outward book or purchases…
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,…
Standard Quantity Per Unit Definition
Standard Quantity Per Unit Definition: The amount of materials that should be required to complete a single unit of product, including allowances for normal waste, spoilage, rejects, and similar inefficiencies.
Prevention Cost Definition
Prevention Cost Definition: Prevention costs are those costs that are incurred to keep defects from occurring.
Cash Flow Statement Example – Direct and Indirect Method
Cash Flow Statement Example - Direct and Indirect Method: Unlike the major financial statements, cash flow statement is not prepared from the adjusted trial balance. The information to prepare this…