financial accounting

feautures of job costing

How to calculate target costing

Target costing is technique of managing company profit whereby the company design the product at established cost in order to get desired profit from market selling price.

Target costing is calculated by establishing or researching on the market Price of planned product and plan the profit which the company expect to obtain from the price before subtracting the price to … Read the rest

11 advantages of standard costing.

Standard costing is managerial control technique that facilitates a comparison of standard cost and revenue with actual results to obtain variance that are used to stimulate improved performance.



The following are advantages of standard costing:

  • It provides yard stick against which actual are measured.
  • It helps in valuing the closing stock.
  • It helps in fixing
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man and woman near table

7 differences between job costing and process costing.

Job costing may be defined as a system of costing in which the elements of cost are accumulated separately for each job or work order undertaken by an organization. Industries which manufacture products or render services against specific orders use job costing or job order method of cost accounting.



Process costing is a form … Read the rest

Benefits Of Financial Accounting

Financial accounting is a part of accounting that helps in summarising, reporting, and analyzing the financial transactions of any business. Nowadays, it has become very popular because of its several benefits. Many offshore services companies in Sydney offer financial accounting at the best price. Here are 5 major advantages are given below. Offers A Systematic […]

Benefits Of Financial Accounting
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3 requirements of IFRS 8 on identification of reportable segments.

IFRS 8 reporting segments seeks to assist the user of financial statements gain a clearer understanding of the performance of the business by requiring disaggregation of the reported financial information into segments.

Definition of reportable segment.

IFRS 8 requires an entity to report financial and descriptive information about its reportable segments. Reportable segments are operating segments or aggregation of reporting … Read the rest