Mindblown: a blog about philosophy.

Sponsored Links ________________________________________________________ Activity Based Costing in decision making Activity based management; shortened ABM uses ABC to make decisions that leads to increase in profits by satisfying the customers. Activity Based Costing’ and cost reduction Most companies adopt the ABC system in order to achieve more accurate costs of pricing products and product mix decisions.…

Sponsored Links ________________________________________________________ Following free online accounting training class on retained earning statement will help you to understand: What is Retained Earning Statement Example or Template of Retained Earning Statement Meaning of Equity Statement or Statement of Owner’s Equity Formation or Procedure of Making the Statement of Retained Earnings Company prepares income statement to determine…

Financial ratio analysis is also referred to as ratio analysis. There are many ways through which together or alone can be used to assist the investors assess the financial stability of an organization. One of the most common is the use of financial ratio analysis. It basically includes 5 types of financial ratio, which are…

Managerial or Management Accounting information is basically planned to meet the specific needs of a company™s management. Managerial accounting provides the information for fulfilling the objective of management. The information which is provided by the managerial accounting for the management is as follows: Historical Data: it provides objective measures from past operations. Estimated Data: estimated…

FIRST-IN FIRST-OUT (FIFO) In most companies, FIFO costing remains constant according to the physical movement of inventory. ‘ Under FIFO method, costs of merchandise are always integrated in cost of sold by following the same order in which they were purchased that often reflects the physical flow of the merchandise. Therefore, the FIFO method often…

Accounting Worksheet is a very important work tool. It is not a formal tool that has to be maintained all the time but it makes complex calculation easy. Companies use summarized data of statement. Accounting Worksheet is the way to summarize accounting information. Worksheet is a working material by which company can prepare financial statement…

Post closing trial balance Following Free Online Accounting Training Tutorial on Post Closing Trial Balance will help you to understand: What is Post Closing Trial Balance Definition of Post Closing Trial Balance Sample of Post Closing Trial Balance Elements that Post Closing Trial Balance Contains There are accounting procedures in any accounting period of any…

Some people have always termed accounting as a boring subject, consisting of nothing but math and calculations all through. Accounting has more than just crunching numbers. In fact actual definition of accounting is a process of identifying, recording, summarizing and reporting economic information for decision making purposes. In simpler terms, accounting is a business language…

Welcome to the second part of Accounting Cycle lecture series. On the first part of Accounting Cycle tutorial we discussed on following steps: 1. Identifying and Recording Transactions and Other Events 2. Journalizing 3. Posting 4. Trial Balance 5. Adjustments Today in this last part we will discuss on these 6 remaining steps. Such as:…

Depreciation is considered as the process of allocating the initial cost of a plant asset over its useful life by following a rational and methodical manner. The cost allocation process of depreciation enables the companies to match expenses against the revenue that is earned by the asset in accordance with the matching principle. However, the…