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These are two different methods of accounting that are used in different circumstances and situations. The equity method of accounting is used when the influence and control of the firm…
Cost accounting uses information provided by financial accounting together with much more details of operations of cost accounting is collection, processing and evaluation of operating, data. e.g. cost of products, operations, processes,…
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…
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…
Job Order Costing Questions and Answers: Questions: Cost accounting is said to consist of three different phases. Name them. See answer. Name four control accounts concerned primarily with cost determination.…
Cost Accounting Definition: Different authorities have defined the term "cost accounting" which help in reflecting the multi-sided meaning the subject contains. The definition given by J. W. Neuner is considered…
Definition and Explanation of Activity Based Costing System: Learning Objectives: Understand activity based costing system. How it differs from a traditional costing system? Activity based costing (ABC) is a costing…
Branches of Accounting: Learning Objectives: What are the branches of accounting? Accounting has three main forms of branches, viz, financial accounting, cost accounting, and management accounting. These forms of accounting…
What is Managerial Accounting: Learning objectives of this article: What is managerial accounting? What are functions of managerial accounting? Managerial accounting is concerned with providing information to managers that is, people…
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