Month: June 2020
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Cost Accounting
What are the Advantages of Cost Audit?
A cost Audit is an important part of a company’s financial and risk management. The main purpose of this cost audit is to help the company to save money by fixi
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Cost Accounting
What is Direct Labour in Costing?
Direct labour is the cost of the labour used to produce a product or service. It includes all wages, salaries, and other forms of employee compensation, such as
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Financial Management
Hedge Fund Strategies in Finance
Hedge Fund Strategies There are various hedge fund strategies and sub-strategies that exist within the hedge fund universe. It is difficult to explain every sin
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Cost Accounting
Why do variances arise in costing
Variance in cost accounting is the difference between the actual cost of something and the expected cost of something. For example, a direct material cost varia
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Financial Management
The Payback Period Method of Investment Appraisal
The payback period is the amount of time it takes to recover the investment’s initial outlay. In other words, it is the amount of time it takes for the pr
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Financial Accounting Concepts
Accounts for manufacturing businesses
What are manufacturing businesses? A manufacturing business is involved in the production of goods. Typical examples of a manufacturing business are car manufac
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Financial Accounting Concepts
What are the final accounts? and how to prepare them?
By final accounts, we mean manufacturing and trading account (only trading accounts in the case of non-manufacturing entities), profit and loss accounts, and ba
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Cost Accounting
ERP Implementation Guidance for Management Accountants
ERP implementation is an investment that may or may not pay back for the investment. A successful ERP implementation involves much more than an easy ‘plug and p