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 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 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
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 of Labour Cost & Labour Cost Control. 2. Control Over Labour Cost and Labour Cost Control Departments. 3. Causes & Measurement of Labour Turnover. 4. Methods of Wages Payment. 5. Types of Labour. 6. Importance and Factors of Labour Cost Control. Meaning of Labour Cost – Labour cost, representing the human contribution … Read more
Contents – 1. Meaning and Definition of Material, Material Cost and Material Control. 2. Types of Material. 3. Objectives of Material Control. 4. Steps / Stages of Purchasing Procedure / Procurement Process. Meaning and Definition of Material – The basic input from which a product is manufactured is termed as material. In the production of any finished … 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
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 Definitions of Business Decision. 2. Importance of Business Decision and Forms of Business Organisation. 3. Features of Sole Proprietorship. 4. Features of Partnership Firm. 5. Features of Joint Stock Company. 6. Features and Merits of Co-operative Organisation. Meaning and Definitions – Decision making is one of the most important skill a management need to have … Read more
What is Corporate Social Responsibility ? Corporate Social Responsibility (CSR) refers to a company’s commitment to operate ethically and contribute positively to society and the environment. It encompasses a range of initiatives aimed at addressing various social, environmental, and economic issues. These initiatives can include philanthropy, environmental sustainability efforts, ethical labor practices, and community engagement … Read more