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Confabulation

Confabulation

Confabulation Definition: Confabulation is defined as the spontaneous creation of memories that never occurred or of actual events that have been distorted to another place and/or time. It is a symptom of various memory disorders in which made-up stories fill in any gaps in memory. German psychia.....

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Limitations of Sales Forecast

Limitations of Sales Forecast

Any forecast can be termed as an indicator of what is likely to happen in a specified future time frame in a particular field. Sales forecasting is the process of estimating future sales. Accurate sales forecasts enable companies to make informed business decisions and predict short-term and .....

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Strategic Thinking

Strategic Thinking

Strategic Thinking Definition: ‘Strategic thinking is defined as coming up with alternative viable strategies or business models that deliver customer value’, (Abraham, Stan, Stretching strategic thinking, Strategy & Leadership, Vol. 33, No. 5 (2005), 5-12). Strategic thinking has to do w.....

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Introduction of Strategic Management

Introduction of Strategic Management

Introduction of Strategic Management Definition: Strategic management is the management of an organization’s resources to achieve its goals and objectives. It involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies and ensur.....

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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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Cost-Effectiveness Analysis

Cost-Effectiveness Analysis

Cost-Effectiveness Analysis Cost-effectiveness analysis (CEA) is a method of comparing the cost and effectiveness of two or more alternatives. CEA is an alternative to cost-benefit analysis (CBA). The technique compares the relative costs to the outcomes (effects) of two or more courses of action.....

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Cost-Benefit Analysis

Cost-Benefit Analysis

Cost-Benefit Analysis Cost-benefit analysis (CBA) can be explained as a procedure for estimating all costs involved and possible profits to be derived from a business opportunity or proposal. It is sometimes called benefit costs analysis (BCA). The goal of CBA is to determine which option returns.....

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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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Basic Classes of Sales Forecasts

Basic Classes of Sales Forecasts

Any forecast can be termed as an indicator of what is likely to happen in a specified future time frame in a particular field. Sales forecasting is the process of estimating future sales. Accurate sales forecasts enable companies to make informed business decisions and predict short-term and long.....

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About Financial Accounting

About Financial Accounting

About Financial Accounting Definition: Financial accounting (or financial accountancy) is a specialized branch of accounting that keeps track of a company’s financial transactions. In other words, financial accounting is a way of reporting business activity and financial information to inve.....

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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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