Tag Archives: #CostAccounting

What is a deferred revenue expenditure?

User Intent Users searching for deferred revenue expenditure are typically business professionals, students, accountants, and financial analysts. They want to understand its definition, application, benefits, and limitations in a structured manner. This article provides a detailed yet easy-to-read explanation to help users grasp the concept efficiently. Introduction Financial management involves different types of expenditures, each… Read More »

What are basic accounting terminologies?

Basic accounting terminologies 1.Assets: Resources owned by a business that has monetary value and are expected to provide future benefits. 2.Liabilities: Obligations of a business to pay debts or other financial obligations. 3.Equity: Equity refers to the ownership interest in a company or property, representing the residual value after all liabilities have been paid… Read More »

What are the functions of the accounts receivable?

The functions of the accounts receivable The functions of accounts receivable in accounting are as follows: 1.Recording Sales: Accounts receivable records the amount of money owed to a business by customers for goods or services sold on credit. It serves as a record of credit-based sales made by the business. 2.Payment Tracking: Accounts receivable tracks… Read More »

Do manufacturing expenses come under trading account?

Do manufacturing expenses come under trading account No, Manufacturing expenses are not included in the trading account, which is a component of a business’s final accounts used to determine the gross profit or loss. It includes all the direct expenses and revenues related to the purchase and sale of goods during a particular period. For… Read More »

What is a preliminary expense and how is it treated in a balance sheet?

What is a Preliminary Expense Preliminary Expense are the expenses that a company incurs before it starts its operations. These expenses are relate to the formation, registration, and organization of the company, such as legal fees, accounting fees, and other administrative costs. In accounting, preliminary expenses are treat as an intangible asset and are shown… Read More »

What is cost audit?

"#CostAudit #EfficiencyImprovement #ProfitabilityEnhancement "#CostAudit #EfficiencyImprovement #ProfitabilityEnhancement "#CostAudit #EfficiencyImprovement #ProfitabilityEnhancement Cost audit" " "

User Intent Users searching for “Cost Audit” want to understand what it is, its applications, benefits, and limitations. Many may be business owners, financial professionals, or students studying accounting. Providing a detailed, structured explanation with a comparative table and FAQs will help them grasp the concept fully. What is Cost Audit? A Complete Guide… Read More »