Material Pricing Methods
Material Pricing Methods The following approaches of pricing are prevalent in the market and a firm may adopt any of them according to their suitability. First in First Out Method…
Accounting
Material Pricing Methods The following approaches of pricing are prevalent in the market and a firm may adopt any of them according to their suitability. First in First Out Method…
What is Material Cost Control? Material cost control is a set of strategies and practices employed by businesses to manage and optimize the costs associated with acquiring and using materials…
Accounting for Foreign Branches Foreign branches of a company have its operations and transactions in foreign currency and thus, the books are maintained in the foreign currency. The trial balance,…
A complete set of accounting books are maintained by an independent branch. They get their goods from the HO as well as from the other parties. It has its own…
In branch accounting, each branch is treated as an individual unit which earns revenues (profits) and incurs costs. Each branch maintains its own books of accounts, which include a record…
What is Branch Accounting? Branch accounting is a bookkeeping system in which separate accounts are maintained for each section of the organisation. A branch refers to an establishment that carries…
What is Depreciation? Depreciation in accounting refers to the permanent loss and gradual shrinkage of the book value of noncurrent assets. Depreciation is charged on the cost of the noncurrent…
What is Trial Balance? A trial balance is prepared at the end of the year after all accounting entries for the year are done and completed. All journal entries are…
What is Posting? Posting means a process in which all information in the journal is transferred to the relevant ledger accounts. There is a specific procedure to transfer these entries.…
What is Ledger? Ledger is the principal book of accounts that contains all accounts covered in journal entries and in subsidiary books. All transactions are recorded in a tabular form…