Conceptual Framework Cost Accounting Cost accounting‚ as a tool of management‚ provides management with detailed records of the costs relating to products‚ operations or functions. Cost accounting refers to the process of determining and accumulating the cost of some particular product or activity. It also covers classification‚ analysis and interpretation of costs. The cost so determined and accumulated may be the estimated future costs for planning purposes‚ or actual (historical) costs for evaluating
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FASB Accounting Standards Codification: 410 Asset Retirement and Environmental Obligations Abstract The purpose of this research paper is to summarize research on codification topic 410 based on the information found in different academic databases. The first part of the paper will focus on the FASB Codification database. The second part of the paper will compare and contrast three other databases on the same codification 410 within the RIA Checkpoint databases: AICPA: Auditing
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Introduction IN1 International Accounting Standard 16 Property‚ Plant and Equipment (IAS 16) replaces IAS 16 Property‚ Plant and Equipment (revised in 1998)‚ and should be applied for annual periods beginning on or after 1 January 2005. Earlier application is encouraged. The Standard also replaces the following Interpretations: • SIC-6 Costs of Modifying Existing Software • SIC-14 Property‚ Plant and Equipment—Compensation for the Impairment or Loss of Items • SIC-23 Property‚ Plant and
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Accounting Standard 10: Accounting for Fixed Assets • Fixed asset is an asset held for producing or providing goods and/or services and is not held for sale in the normal course of the business. • Cost to include purchase price and attributable costs of bringing asset to its working condition for the intended use. It includes financing cost for period up to the date of readiness for use. • Self-constructed assets are to be capitalised at costs that are specifically related to the asset and those
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SOAP INTRODUCTION * SOAP stands for Simple Object Access Protocol * SOAP is a communication protocol * SOAP is for communication between applications * SOAP is a format for sending messages * SOAP communicates via Internet * SOAP is platform independent * SOAP is language independent * SOAP is based on XML * SOAP is simple and extensible * SOAP allows you to get around firewalls * SOAP is a W3C recommendation SOAP‚ originally defined as Simple Object
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Ex-MBA 2011-2014 ( Batch - Weekend ) Semester - 2 Subject: Managerial Accounting ------------------------------------------------- Title : Methods / techniques of cost accounting Submitted by : Vishwajeet Gaikwad – 2011G04 Submitted to : Prof. Sameer
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Institution Introduction Observation of standard accounting practices is a requirement for publicly traded companies. The companies are obligated to follow strict accounting rules in the presentation of their financial statements to enable the readers of such statements to compare performances by different companies easily. Financial institution and shareholders of various private companies may also require private companies to comply with certain accounting standard. Local governments being the form of
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Presentation of Financial Statements Indian Accounting Standard (Ind AS) 1 Presentation of Financial Statements Contents Paragraphs OBJECTIVE SCOPE DEFINITIONS FINANCIAL STATEMENTS Purpose of financial statements Complete set of financial statements General features Presentation of True and Fair View and compliance with Ind ASs Going Concern Accrual Basis of Accounting Materiality and Aggregation Offsetting Frequency of reporting Comparative Information Consistency of Presentation STRUCTURE
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Types of costs Classification of costs: • Materials – costs of raw materials‚ components and other goods used. • Labor – cost of employees wages and salaries. • Expenses – costs which cannot be included in materials and labor. Variable costs – these costs varies directly with changes in the level of quantity‚ over a defined period of time. Fixed costs – are not affected by the changes in the level of activity‚ over a defined period of time. Semi variable costs – for example
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sell them to customers for a profit. These products or services must live up to a certain quality standard expected by customers. If the quality level is not met‚ there are consequences to face for the business. Therefore‚ quality is important to a business for a number of reasons. Customer and Retention is one of the reasons why quality is important. To retain customers for repeat business a company must sell products that live up to the customer’s expectations. If a customer has a good experience
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