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Financial Statements - Accountancy sage

Financial Statements - Accountancy sage | ICAP | Scoop.it
Financial statements are presentation of financial data in the proper formats defined by International Federation of Accountants (IFAC). Arrangement of financial in proper formats helps users to understand information in better way. Also it helps to presented data in more consistent way and makes it more comparable to other entities.
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Basic Concepts of Economics - Accountancy sage

Basic Concepts of Economics - Accountancy sage | ICAP | Scoop.it
Economics is the study of social science concerned with the production, consumption, and transfer of wealth. And how an individual, firm or organization...
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Users of the Financial Statements

Users of the Financial Statements | ICAP | Scoop.it
Users of the Financial Statements,Investors,Government, Public, People interested in financial information of some entity are called its “STAKEHOLDERS”
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Rules of Debit and Credit - Accountancy sage

Rules of Debit and Credit - Accountancy sage | ICAP | Scoop.it
DEBIT and CREDIT have no specific meaning. They represents the sides of T-Account. Debit represent left side while Credit is the right side of T-Account.
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IAS-40 Investment Property - Accountancy sage

IAS-40 Investment Property - Accountancy sage | ICAP | Scoop.it
Investment property is property (land/building) held (by the owner or by the lessee under a finance lease)
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Batch And Contract Costing - Accountancy sage

Batch And Contract Costing - Accountancy sage | ICAP | Scoop.it
Batch cost is calculated by dividing total batch cost by number to units in batch Cost per unit = total cost of batch / number of units in batch and contract costing
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Index Numbers - Accountancy sage

Index Numbers - Accountancy sage | ICAP | Scoop.it
From One Time Period to other the rate of change of variable is calculated through INDEX NUMBERS. Simple index numbers Index numbers based on a single item in called Simple Index Number. There are two types: Price relative Quantity relative
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Time Series Analysis - Accountancy sage

Time Series Analysis - Accountancy sage | ICAP | Scoop.it
Time series analysis Forecasting for the future depends on trend of costs or sales over time. Practically it is unlikely that past results carry on in future as well due to number of reasons. Variation could occur and these variations could be in different ways.
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Allocations and Apportionament of Ove Heads - Accountancy sage

Allocations and Apportionament of Ove Heads - Accountancy sage | ICAP | Scoop.it
When service department is giving its services to other service departments and production departments then following method are used Repeated Distribution Method
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Motivation - Contemporary Theories - Accountancy sage

Motivation - Contemporary Theories - Accountancy sage | ICAP | Scoop.it
Motivation - Contemporary Theories,Motivation is sharply reduced when, expectancy, instrumentality or valence approach zero.equity theory,valence,
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Components and Advantages of Groups - Accountancy sage

Components and Advantages of Groups - Accountancy sage | ICAP | Scoop.it
Components and Advantages of Groups,More knowledge and expertise is applied to solve the problem.A greater number of alternatives are examined.The final decision is better understood
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Leadership- Contingency Theories - Accountancy sage

Leadership- Contingency Theories - Accountancy sage | ICAP | Scoop.it
Leadership- Contingency Theories,Relationship-motivated leaders have more effective groups under conditions of moderate situational control,House’s Path-goal Theory
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ECONOMIC SYSTEMS - Accountancy sage

ECONOMIC SYSTEMS - Accountancy sage | ICAP | Scoop.it
Economic System Refers to the institutional arrangement and the way they work to allocate the scare resources of a country. The most common economic systems in the world are Free Market, Command economy and Mixed economy.
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Accounting Cycle - Accountancy sage

Accounting Cycle - Accountancy sage | ICAP | Scoop.it
Accounting Cycle is process of collecting, recording, summarizing, and communicating the financial information of a business.
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Accounting Equation - Accountancy sage

Accounting Equation - Accountancy sage | ICAP | Scoop.it
Assets = Shareholders' Equity + Liability 1. Asset are property owned by company. 2. Equity is the investment made by owner. 3. Liability are mostly loans.
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IFRS-5 Non Current Assets Held For Sale - Accountancy sage

IFRS-5 Non Current Assets Held For Sale - Accountancy sage | ICAP | Scoop.it
An entity shall classify a Non current assets (or disposal group) as held for sale if its carrying amount will be recovered principally through a sale transaction
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Process Costing Introduction - Accountancy sage

Process Costing Introduction - Accountancy sage | ICAP | Scoop.it
In entities mass production involving, it is difficult to calculate on base of individual unit, so to make issues simple cost, Process Costing Introduction,
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Break Even Analysis - Accountancy sage

Break Even Analysis - Accountancy sage | ICAP | Scoop.it
Break even analysis is the point at which at profit is “ZERO”. It’s important for entity to know how much revenue to revue it has to earn to reach at point after passing which they are going to start earning profits. It helps entity in making important decisions adding to its profits.
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Budgeting - Accountancy sage

Budgeting - Accountancy sage | ICAP | Scoop.it
Budgeting is an important tool for management accounting for planning and controlling the activities of the business in future
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Factory Overhead - Accountancy sage

Factory Overhead - Accountancy sage | ICAP | Scoop.it
Overheads are sum of indirect costs which cannot identified to specific cost units. E.g rent ,electricity and machine depreciation must be charged to departments to which they relate. In other words they are absorbed in head to which they relate
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Labour Accounting - Accountancy sage

Labour Accounting - Accountancy sage | ICAP | Scoop.it
Labor being the most important human resource is important for every entity. In this area we will study labor costing and different cost systems like time based systems and piecework systems.
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Cost Classification - Accountancy sage

Cost Classification - Accountancy sage | ICAP | Scoop.it
Cost classification is arranged in groups on suitable basis. Costs can be classified on different basis: Element, Function, Nature, Classification on basis of Element
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Groups in Organization - Accountancy sage

Groups in Organization - Accountancy sage | ICAP | Scoop.it
Groups in Organization,Forming,Storming,Norming,Performing,Adjourning,stage where a need for forming a group or team is felt and rumors are heard all over organization
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Leadership - Accountancy sage

Leadership - Accountancy sage | ICAP | Scoop.it
Leadership,Trait Theories,Formal leadership,Informal leadership,Trait Theories,Characteristics of Leaders,Leadership Grid, leader behaviors are crucial for performance
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