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Cost Accounting
What are the main advantages of absorption costing?
The following are the main advantages of absorption costing: It suitable recognises the importance of including fixed manufacturing in product…
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IFRS
IFRS in India – Why?
Introduction The remarkable acceptance of IFRS by 140+ countries across the globe indicates that it will become a ‘de-facto’ language…
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Cost Accounting
What is Material Cost Variance
Material Cost Variance (MCV) is the difference between the standard cost of the material allowed (standard material) for the output…
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Cost Accounting
What is a Budget Manual
A budget manual lays down the details of the organisational setup, the routine procedures and programmers to be followed for…
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Cost Accounting
What is Direct Labour in Costing?
Direct labour is all labour expended in altering the construction, composition, confirmations or condition of the product. In simple word, it…
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