# Category: Accounting

## Payroll or Wages Sheet | Meaning | Documents necessary for preparation of Payroll

What is a Payroll or Wages Sheet? On completion of the wage period, the preparation of payroll or wage sheet starts. The payroll or wage sheet is a consolidated …

## Target Costing | Problems | Role of Cost Accountant under Target Costing

Problems of Target Costing One should be aware of the problems of target costing. If so, the target costing can be properly followed. Some of the target costing problems …

## Differences Between Traditional Method of Costing and Target Costing

Traditional Costing Method vs Target Costing Method Traditional Costing Method Under traditional method of costing the manufacturers use the cost details in such a way that cost plus approach …

## Overall Profitability Ratios | Explanation | Formulae | Significance

Overall Profitability Ratios Profit is used as a yardstick to measure the profitability of any business concern. Generally, an analyst calculates overall profitability ratios before giving any recommendation to …

## Sound wage system | Characteristics | Influencing factors

Characteristics or Features of Sound wage system A sound wage system has the following characteristics. 1. Fairness in paying wage Reasonable wages should be paid to the workers. Wage …

## Total Labour Efficiency Variance | Meaning | Causes | Formula

What is Total Labour Efficiency Variance? Total labour efficiency variance is a part of labour cost variance. It is otherwise called as Labour time Variance. Definition of Total labour …

## Market test or Valuation ratio | Explanation | Formula

Market test or Valuation Ratios The followings are the market test or valuation ratios. Dividend Yield Ratio. Dividend Payout Ratio or Payout Ratio. Price Earning Ratio or P/E Ratio …

## Process Costing | Comparison | Difference | Merits | Demerits | Difficulties

Comparison of Unit Costing with Process Costing The following are the differences between the Unit Costing and Process Costing. Differences between job costing and process costing The main points …

## Internal and External reports | Meaning | Types

The reports are classified on the basis of purposes also. They are internal reports and external reports. Internal Reports External Reports What are Internal Reports? Reports that are prepared …

## Joint Product | Meaning | Characteristics | Objectives

What are Joint Products? In a manufacturing process, a raw material may be converted into finished product. During the process of conversion, there is an emergence of waste, scrap, …