What is Greenwashing ? Greenwashing is a deceptive marketing tactic used by companies to create a false impression of their environmental responsibility. Essentially, it involves misleading consumers into thinking that a company’s products, policies, or operations are more eco-friendly than they actually are. This can be done through vague or exaggerated claims, irrelevant or misleading … Read more
What is Financial Statements ? Financial Statement (also referred to as the “Financial Report”) is a formal and structured record of the financial activities of a business entity. It reveals the financial health of an entity with regard to the profits earned during a specific period (Accounting Period), and position of assets and liabilities as … Read more
What is Accounting ? Accounting is used as the language of business. Accounting involves the procedures of recording the financial transactions in the books of account which are helpful to its user for analyzing and interpreting the financial soundness of business. The process of “Financial Accounting” involves the presentation as well as the interpretation of the … Read more
What is Standard Costing ? Standard Costing is a sophisticated technique, under which the standards are decided in advance and the actual costs are compared with such standard costs. Causes of variations, especially the unfavorable ones, am analysed and appropriate corrective measures are initiated so as to have the optimum efficiency in production. Definition of Standard Costing … Read more
What is Tally ? Tally is a popular accounting software. It is used for the purpose of creating and organizing accounts in a business. The software was introduced in 1989 and has an important place in Indian business scenario. It is considered to be a pioneer in its field. Tally has immensely increased its reach. It … Read more
What is Management Accounting ? Management accounting is a vital aspect of a company’s internal operations, focusing on providing relevant financial information to aid managerial decision-making. Unlike financial accounting, which primarily deals with reporting to external stakeholders such as investors and regulatory bodies, management accounting is tailored to meet the needs of managers within the organization. … Read more
What is Marginal Costing ? The term ‘marginal cost’ is derived from an important economic concept of ‘margin’. However, economic concept of ‘margin’ is different from accounting concept. As an economic concept, marginal cost is the expenses incurred for producing an additional unit of a product, while accounting concept of margin cost implies the total cost … Read more
Contents – 1. Meaning and Methods of Pricing of Issues. 2. Advantages, Disadvantages and Example of FIFO Method. 3. Advantages, Disadvantages and Example of LIFO Method. 4. Advantages, Disadvantages and Example of Simple Average Price Method. 5. Advantages, Disadvantages and Example of Weighted Average Price Method. 6. Other Methods Pricing of Issues – Against authorised requisitions … Read more
Contents – 1. Meaning and Benefits of Time Keeping. 2. Purpose and Methods of Time Keeping. 3. Meaning of Time Booking. 4. Methods and Objectives of Time Booking. 5. Differences Between Time Keeping & Time Booking. TIME KEEPING Meaning of Time Keeping – When the arrivals as well as the departure time of the labour … Read more
Contents – 1. Meaning and Definition of Overheads. 2. Classification of Overheads. 3. Procedure for Accounting & Control of Overheads. a) Collection of overheads. b) Allocation of overheads. c) Apportionment of overheads. d) Re-appointment of service department overheads. e) Absorption of overheads. Meaning – Overheads … Read more