Answer Posted / sowmya.k

Financial accounting takes into consideration of the
transactions which can be expressed in terms of money.

2)It is historical form of accounting.
3)In practical circumstances, it is more or less legal
requirement.
4)It is ment for for those who are external to the
organisation.Example investors, customers, suppliers,banks
and financial institutions.
5)It discloses the financial performance and financial
status of the business as a whole.
6)they are intirm reports and not the final ones.

COST ACCOUNTING

Cost accounting is the process of classifying and recording
of the expenditure in a systematic manner, with the
intention of ascertaning the cost of the cost centerwith
the intention of controlling the cost.

1)it views the organisation from the angle of indivdual
component.example a department,a process.

ITS OBJECTIVES
a) ascertainment of cost and profitablity
b)cost control
c)presentation of information for decision making

2)it is ment for those people who are the part of decission
making.
3)it may have legal requirements in some exceptional cases.
Section 209(1)(d) if the Companies Act 1956 makes it
mandotary.
4)it takes into consideration all transactions irrespecitve
of whether past or future transactions.

what is cost audit?

2099

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selling price = shs. 200, variable overhead-selling per unit= shs 80, variable production cost per unit = shs 60, fixed selling cost = 2,840,000. the production capacity of the project is 200,000 units. required P/V ratio, BEP and margin of safety

2023

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Expand CASA

2044

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What are direct income and indirect income

2052

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i want the steps involved in the customization for the process order. my situations is if i take the process order for x qty then stores people can issue only x qty not less or not more. how to do this. pls help me

1891

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Took goods from the shop for use at home. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?

1889

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Short Answer on _________Business

2083

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How do you manage the sales account in tally

2045

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Please send me full details of MIS report how to prepare which item to be consider in MIS report? 2) full details of Esic, PF and Fbt and maharashtra labour welfare fund

2239

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What is Insider Trading ?

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what s BSPL and its significance?

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How to dived the persons AOP, AJP, BODY OF INDIVIDUALS,HUF,COMPANY-NON RESIDENT, COMPANY RESIDENT LOCLA AUTHORITY,PARTNERSHIP FIRM(meaning)

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what are responsibilities of an accountant in a company?

2275

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Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,

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Sir,I want to be good in accounting .Now i have got an oppurtunity to work in accounts department but i am average in accounts.So how can i improve and work with effiency guide me with ur tips.

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