Cost Accounting Cost Accounting is a branch of accounting that is concerned with the determination and analysis of the costs incurred in the production of goods or services. It involves recording, classifying, analyzing, and interpreting the costs of products or services for the purpose of management decision-making, control, and cost reduction. To visit: https://www.incometax.gov.in Cost… Read More »
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 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 »
