Functions of Material Managements Area of material management can also be described as the functions of Material Management. Following are the functional areas of material management- (a)Co-ordination with various departments. (b)Material planning & control....
A manager has command over 4 resources men,machines money and materials which are known as 4m’s. These are the inputs of any business activity. A manager is expected to give required output from a...
Limitations of Accounting Accounting is helpful to business in determining the position of assets and liabilities as well as profit and loss. Itenables the business to take important future decisions. But one can not...
Principles of Accounting Complete and general acceptable list of accounting principle is not available. They are classified in the follow- ing three categories: (1) Balance Sheet Principles,(ID) Income Statements Principles(III) General Principles 1. Balance...
Types of Cost Accounting Types of cost accounting are studied under the following three heads- 1. Systems of costing,2. Methods costing,3. Techniques of costing. Systems of Costing The systems of cost accounting can be...
Functions of Cost Accounting In order to achieve its objectives, cost accounting performs the following functions- (1) Determination and analysis of cost-The main function of cost accounting is to find out the total cost...
Definitions of Cost Accounts Different scholars have given definitions of cost accounts. Some of the definitions are as follows- (1)According to Harold J. Heldon- “Cost Account means the process of classifying, recording and preparing...
What is Accounting Accounting is a part of our life. All of us do some accounting, often without realizing it. Forexample, one morning, you realize suddenly that you needed to buy a book urgently....