Day: May 6, 2021

The limitations of financial accounting have made the management to realise the importance of cost accounting. Whatever may be the type of business, it involves expenditure on labour, materials and other items required for manufacturing and disposing of the product. Read More …

Cost accounting aims at systematic recording of expenses and analysis of the same so as to ascertain the cost of each product manufactured or service rendered by an organisation. Information regarding cost of each product or service would enable the Read More …

Costing Costing is the techniques and processes of ascertaining costs. These techniques consist of principles and rules which govern the procedure of ascertaining cost of products or services. The techniques to be followed for the analysis of expenses and the Read More …

The history of accounting is as old as civilization. It is the process of identifying, measuring, recording and communicating economic information, capable of being expressed in terms of money. The utility of accounting information lies in its ability to reduce Read More …

Cost is the amount of resource given up in exchange for some goods or services. The resources given up are money or money’s equivalent expressed in monetary units. The Chartered Institute of Management Accountants, London defines cost as “the amount Read More …

ORIGIN OF PENSIONS FUNDS Pensions were initially intended as extra compensation meant to entice people to enlist into the military.  As early as 1636, before the colonies were united as the U.S., the Plymouth colony offered a pension for those Read More …