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First in first out method
access_time 2019-01-21T06:51:50.977Z face CA N Raja
Let us consider stores department as an example. which receives material when they are purchased and issues the materials for onsumption.When materials are issued for production, They have to be priced and closing stock of material have to be valued. If materials are issued for production at the pri...
what is job costing?
access_time 2019-01-18T12:09:35.942Z face CA N Raja
Take example of printing press, motor workshop and all they will be undertaking work on the basis of customers order only .it means they won’t sell one product to all they will be building or developing what customers says .in order to bill customers. cost of each job have to be ascertained separate...
What is internal audit?
access_time 2019-01-14T04:44:22.796Z face CA N Raja
Internal audit is an independent Management function. Here internal Audit department will appraise the functioning of entity continuously as well as critically with an intention to suggest improvements to add value and to strengthen the overall Governance and Risk Management and internal control sys...
Fundamental Accounting Assumptions
access_time 2019-01-11T07:00:03.407Z face CA N Raja
These assumptions can be divided into Three First one is Going Concern.second one is accrual number .and third one Consistency.These assumptions are general in nature and users can assume that financial statements are prepared on these assumptions only. It means no disclosure is required when financ...
What is Bridge Finance?
access_time 2019-01-07T10:14:14.857Z face CA N Raja
Let's say your company has taken up a big project and it has approached financial institution for a long term loan and let's say that loan also has been sanctioned but Financial institution is taking time for finalising its procedures related to security creation Or tie up with other institutions. H...
