Accounting

Preparation of Production Budget

Preparation of Production Budget

Preparation of Production Budget A production budget is stated in physical units. It helps a company to plan its manufacturing schedule and ensure that it produces an adequate quantity of goods. Making a production budget involves first determining the number of units projected to be sold. The pr.....

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Production Budget

Production Budget

Production Budget For manufacturing companies production budget is prepared prior to the sales budget. The production budget contains details of the number of units that are intended to be produced by a business in a particular period. This budget shows the quantities to be produced for achieving.....

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Disadvantages of Just in Time (JIT) Inventory

Disadvantages of Just in Time (JIT) Inventory

Just in time inventory, also known as JIT inventory, is the reduced amount of inventory owned by a business after it installs a just-in-time manufacturing system. It is a management strategy that aligns raw-material orders from suppliers directly with production schedules.  The intent of a JIT .....

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Advantages of Just in Time (JIT) Inventory

Advantages of Just in Time (JIT) Inventory

Just in time inventory, also known as JIT inventory, is the reduced amount of inventory owned by a business after it installs a just-in-time manufacturing system. It is a management strategy that aligns raw-material orders from suppliers directly with production schedules.  The intent of a JIT .....

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How to Reduce Just in Time (JIT) Inventory?

How to Reduce Just in Time (JIT) Inventory?

Just in time inventory, also known as JIT inventory, is the reduced amount of inventory owned by a business after it installs a just-in-time manufacturing system. It is a management strategy that aligns raw-material orders from suppliers directly with production schedules.  The intent of a JIT .....

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Just in Time Inventory (JIT)

Just in Time Inventory (JIT)

Just in time inventory, also known as JIT inventory, is the reduced amount of inventory owned by a business after it installs a just-in-time manufacturing system. It is a management strategy that aligns raw-material orders from suppliers directly with production schedules. This type of system is .....

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Cost Allocation

Cost Allocation

Cost Allocation Definition: Cost allocation is the process of finding cost of different cost objects such as a project, a department, a branch, a customer, etc. It involves identifying the cost object, identifying and accumulating the costs that are incurred and assigning them to the cost object .....

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About Throughput Accounting

About Throughput Accounting

About Throughput Accounting Throughput Accounting (TA) is a management accounting approach that focuses on the throughput of cash from sales and the truly variable costs of producing an additional unit of a product or service. It is designed to support management decision making. TA was proposed .....

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About Management Accounting

About Management Accounting

About Management Accounting Management Accounting (also called managerial accounting) is the process of preparing management reports and accounts that provide accurate and timely financial and statistical information required by managers to make day-to-day and short-term decisions. The result of .....

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Economic Entity

Economic Entity

Economic Entity Definition (Economic Entity Assumption) – The economic entity assumption is an accounting principle that states that all transactional data associated with a specific entity is assumed to be clearly attributed to the entity, and does not include other transactional data associat.....

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Institute of Chartered Accountants of Bangladesh (ICAB)

Institute of Chartered Accountants of Bangladesh (ICAB)

Institute of Chartered Accountants of Bangladesh (ICAB) is the National Professional Accounting Body of Bangladesh established under the Bangladesh Chartered Accountants Order 1973 (Presidential Order No. 2 of 1973). The Ministry of Commerce, Government of the People’s Republic of Banglade.....

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Institute of Cost and Management Accountants of Bangladesh (ICMAB)

Institute of Cost and Management Accountants of Bangladesh (ICMAB)

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) is a leading professional body in Bangladesh that offers a professional qualification in Cost and Management Accountancy, with a focus on accounting for business. ICMAB program has been designed to meet the evolving needs of b.....

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