Basics
Classification of Cash Flows
According to AS-3 (Revised), cash flows should be classified in three main categories: ● Cash Flow from operating activities…
August 16, 2021 · Boomi NathanBasics
Basics
Management Accounting – Cash Flow
It is very important for a business to keep adequate cash in hand to meet day-to-day expenditures and…
August 16, 2021 · Boomi NathanBasics
Management Vs. Financial Accounting
All monetary transactions are recorded in the books of accounts on historical cost basis. Financial statements are prepared…
August 16, 2021 · Boomi NathanBasics
Management vs. Cost Accounting
Management accounting collects data from cost accounting and financial accounting. Thereafter, it analyzes and interprets the data to…
August 16, 2021 · Boomi NathanBasics
Objectives of Management Accounting
Let us go through the objectives of management accounting: Planning and Formulating Policies In the process of planning…
August 16, 2021 · Boomi NathanBasics
Characteristics of Management Accounting
Management accounting provides data to the management on the basis of which they take decisions to achieve organizational…
August 16, 2021 · Boomi NathanBasics
Management Accounting – Introduction
Institute of Chartered Accountants of England and Wales defines management accounting as: Any worm of accounting which enables…
August 16, 2021 · Boomi NathanBasics
Break-Even Chart
Break-Even Chart is the most useful graphical representation of marginal costing. It converts accounting data to a useful…
August 16, 2021 · Boomi NathanBasics
Marginal Cost Equation
Equations for elements of cost are as follows: Sales = Variable costs + Fixed Expenses ± Profit /Loss…
August 16, 2021 · Boomi NathanBasics
Cost Accounting – CVP Analysis
Cost-Volume-Profit (CVP) Analysis is also known as Break–Even Analysis. Every business organization works to maximize its profits. With…
August 16, 2021 · Boomi Nathan