Selling and Distribution Overhead Selling and Distribution overhead is the combination of two words ie Selling overhead and Distribution overhead. What is Selling Overhead? Selling overhead is the
Over / Under absorption of overhead The overheads are absorbed on the basis of predetermined overhead absorption rate according to the actual production of goods throughout the accounting
What is Administration Overhead? Administration overhead is the indirect expenses incurred relating to the administration of a business concern. The administrative function covers the formulation of business policy,
What is Operating Costing? Operating costing is an extension and refined form of process costing. It is also more or less very similar to single or output costing.
What are the Elements of Cost in Cost Accounting? The elements that constitute the cost of manufacture are known as the elements of cost. Such element of cost
What are Centralized & Decentralized Purchases? Centralized Purchase refers to purchasing of all the requirements under the central point of the organization. Like wise, Decentralized Purchase refers to
Objectives or functions of Management Accounting The main objective of management accounting is to help the management to take quality decision for controlling the business activities effectively. The
Scope of Management Accounting The main purpose of management accounting is to utilize the accounting information in solving the business problems and taking scientific decisions. Moreover, the scope
13 Important principles of Management Accounting The following are the generally accepted principles of management accounting. 1. Designing and Compiling Accounting information, records, reports, statements and other evidence
Importance of Management Accounting The management required the quantitative information for the performance of planning, control, coordination, motivation, organizing, staffing and the like. The quantitative information should not