What is Material Price Variance? Material Price Variance is the part of direct material cost variance. According to ICMA, London, “It is that portion of the direct material
Direct Material Cost Variance It is otherwise called as Direct Material Variances. It is the difference between the standard cost of materials used for the actual output and
Average Collection Period Formula The formula to find out average collection period is Average Collection Period = Total Accounts Receivable / Credit Sales Per day. Here, the Total
Guidelines for effective advertising campaign When creating an advertising campaign, there are many factors which decide if the message your company wants to promote is effective and eventually
What is flow of funds? Flow means movement. The term movement includes inflow and outflow. Here, flow of funds means transfer of economic values from one asset of
Role of Chief Executive Officer in Organization The Chief Executive Officer (CEO) is designated as the Managing Director, or President or General Manager or Chairman or Executive Director.
Importance of Communication for Management Communication is essential for management for the following reasons: 1. It is a prerequisite to work communication. Management cannot communicate to workers unless
Socialization of family members The socialization of family members is the central family function. The socialization responsibility of parents is constantly expanding. For example, parents are anxious to
What are Impersonal ledgers? Impersonal ledgers are also called General Ledgers or Nominal Ledgers. They are of two types such as Nominal Accounts and Real Accounts. Nominal accounts
Steps to avoid unnecessary purchase of stationery It is a well-known fact that the cost of stationery occupies main portion of non-salary expenses. In other words, a huge