What are Business Functions?
Business Functions are a set of rules, operation and process or operation that is performed routinely to carry out a part of the mission of… Read More »What are Business Functions?
Business Accounts
What is Bail-In?
A bail-in provides relief to a financial institution on the brink of failure by requiring the cancellation of debts owed to creditors and depositors. A… Read More »What is Bail-In?
What is Bailout?
A bailout is a general term for extending financial support to a company or a country facing a potential bankruptcy threat. It can take the… Read More »What is Bailout?
Redemption of Preference Shares
Redemption of preference shares means returning the preference share capital to the preference shareholders either at a fixed date or after a certain time period… Read More »Redemption of Preference Shares
What is Job Costing? Objectives and Advantages
Job Costing Definition Job costing is defined as a method of recording the costs of a manufacturing job, rather than process. With costing systems, a… Read More »What is Job Costing? Objectives and Advantages
Machine Hour Rate: Advantages and Disadvantages
Machine hour rate method is one of the methods of absorption of factory overheads into production. In industries like chemicals, engineering, steel and other heavy… Read More »Machine Hour Rate: Advantages and Disadvantages
Service Costing: Definition and Objectives
Service costing refers to the costing procedure used for determining the cost per unit of service rendered. The term defined as the cost of specific… Read More »Service Costing: Definition and Objectives
What is Leverage? Types and Importance
What is Leverage? Leverage results from using borrowed capital as a funding source when investing to expand the firm’s asset base and generate returns on… Read More »What is Leverage? Types and Importance
Methods for Valuation of Materials
Materials Issue Methods To find out the cost of materials issued from stores several methods are used. The choice of method should be based on… Read More »Methods for Valuation of Materials
What is a Suspense Account in Accounting?
Suspense Account Suspense account is an account in the general ledger in which amounts are temporarily recorded. It is used when the proper account cannot… Read More »What is a Suspense Account in Accounting?