How to Treatment of idle time, overtime premium and fringe benefit costs?
Along with direct labor charges, there are other costs linked to direct labor personnel. These are idle time, overtime premium along with fringe benefits which…
Accounting
What is Costs of quality or quality costs?
Costs of quality, as well as quality costs, will not mean the use of expensive or extremely high-quality materials to manufacture an item. The term…
What is Differential, opportunity and sunk costs?
Costs might be classified as differential, opportunity and also sunk costs. This classification is made for decision making requirements. Explanation and degrees of differential, opportunity…
What is Cost benefit principle?
The cost benefit principle holds that the cost of maintaining information via the financial statements ought to not exceed its effectiveness to readers. This…
How to calculate working capital?
Working capital means current assets less current liabilities. It is utilized in some ratios to estimate the general liquidity of a company; that is, the…
What is Lean business model?
Lean business model is built to reduce waste running a business processes. If a corporation thoroughly integrates lean concepts into the operations, a likely outcome…
What is Debt ratio?
Debt ratio measure the actual extent to which a lending broker uses debt to fund its operations, as well as the ability of the entity…
What is Retention ratio?
A retention ratio could be the proportion of net gain retained to fund the operational needs of a business. When there exists a high retention…
What is the purpose of bank reconciliation?
Bank reconciliation is utilized to compare the records to those of your bank, to see if you’ll find any differences between the two of these…
What is a Voucher?
A voucher is an inside document describing and authorizing the payment of a liability to a trader. It is most frequently used in a manual…
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