What is Benchmarking?
Benchmarking is a process of measuring the performance of a company’s products, services, or processes against those of another business considered to be the best… Read More »What is Benchmarking?
Management Materials
Difference between Inflation and Deflation
Deflation Deflation is a decrease in the general price level of goods and services. It occurs when the inflation rate falls below 0%. Inflation reduces… Read More »Difference between Inflation and Deflation
Inflation: Definition and Types
Definition Inflation may be defined as ‘a sustained upward trend in the general level of prices’ and not the price of only one or two… Read More »Inflation: Definition and Types
Plant Maintenance: Importance and Objectives
Plant Maintenance For smooth functioning of a plant it is deemed necessary that all the machines should be in working condition and should be safe… Read More »Plant Maintenance: Importance and Objectives
Ethical and Unethical Behavior in Business
Ethical Behavior is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a… Read More »Ethical and Unethical Behavior in Business
What is Partnership? Advantages and Disadvantages
According to section 4 of the Partnership Act of 1932,”It can be defined as the relation between two or more persons who have agreed to… Read More »What is Partnership? Advantages and Disadvantages
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