Management Audit

Management Audit

Management auditing is a systematic examination of management decisions and actions to assess performance. Management auditing entails reviewing managerial aspects such as organizational objectives, policies,…
Concept of Variance Analysis

Concept of Variance Analysis

The term variance refers to the deviation of actual costs from standard costs due to a variety of factors. It is the study of deviations…
Problems with Standard Costing

Problems with Standard Costing

Standard costing is a predetermined cost that is calculated from management standards of efficient operations and the relevant necessary expenditure. It can be used as…
Advantages of Standard Costing

Advantages of Standard Costing

Standard costing offers managers several benefits that can help their business run more efficiently. Though most businesses no longer use standard costing in its original…
Standard Costing

Standard Costing

Standard costing is the practice of substituting an expected cost for an actual cost in accounting records. It is an accounting system that uses predetermined…
Unit Banking

Unit Banking

Unit banking has one office. Generally, limited banking services are offered to customers by a unit banking organizations. It is managed by its own governing…
Classification of the Materials Cost Variance

Classification of the Materials Cost Variance

Classification of the Materials Cost Variance Variance analysis is a tool of budgetary control by evaluation of performance by means of variances between budgeted amount,…
Basic Features of Operating Costing

Basic Features of Operating Costing

Basic Features of Operating Costing Operating costing is a method of ascertaining costs of those enterprises which provide services rather than manufacturing products. This method…
Cost Reconciliation Statement

Cost Reconciliation Statement

Cost Reconciliation Statement A cost reconciliation statement is prepared on the same footing on which a bank reconciliation statement is prepared. It is a statement…
Integrated Accounting System

Integrated Accounting System

Integrated Accounting System Integral or Integrated system is a System of accounting under which only one set of account books is maintained to record both…
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