Month: May 2021
- Financial Accounting Concepts
What Are Operating and Financing Lease
The term lease is defined as a contact between the owner of an asset that is called the lessor, or the user of the assets that is called the lessee. The lessor
- Cost Accounting
What is a sunk cost in accounting
A sunk cost is that which has been incurred or committed in the past and is, therefore, irrelevant to the decision-making purpose because the decision-maker no
- Cost Accounting
Differences between standard cost and standard costing
The standard cost is the amount anticipated to be paid for materials or labour. The standard quantity is the estimated amount of materials or labour used. It is