Define Cost Accounting Practice
Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.
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What do you mean by the term changing business landscape?
Choose the right answer from following. Which one did not contribute to the large Federal budget deficits in the year of 2002 and 2003? A) spending on the wars in Afghanistan and Iraq. B) low interest rates. C) Federal tax cuts. D) the recession of 2001 and its afterm
Significant costs associated with the disposal of asset. Accounting for asset retirement obligations requires estimating the cost and discounting estimate. The present value added to the asset's depreciable base and a liability is recorded for the obligation. Every year, interest expense is added
From the books of Aggarwal Bors, the following information have been extracted: Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% The firm is proposing to buy a new plant which can generate additional annual profit of Rs. 10,000. The fixed
Traceability: The capability to assign a cost directly to a particular activity or cost object by identifying or observing particular resources used by the activity or cost object.
What are the various factors which occurred due to the changing business landscape?
Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
Write down a short note on determining costs and benefits in decision making process?
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