tag:blogger.com,1999:blog-59685044041013792362024-03-12T23:26:49.359-07:00Accounting HubKamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.comBlogger64125tag:blogger.com,1999:blog-5968504404101379236.post-86082658805201580442018-11-12T23:00:00.002-08:002018-11-12T23:03:51.587-08:00Ordinary Share<div dir="ltr" style="text-align: left;" trbidi="on">
<br /><b>Ordinary shares</b> are shares which entitle the holders to the remaining divisible profits (and, in a liquidation, the assets) after prior interests, <br />
<a name='more'></a>e.g. creditors and prior charge capital, have been satisfied.<br /><br />
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-24572686730167877102018-11-12T22:58:00.004-08:002018-11-12T23:02:47.400-08:00What is a Share<div dir="ltr" style="text-align: left;" trbidi="on">
<span class="fontstyle0"></span>A share is a transferable form of property, carrying rights and obligations, by which the interest of a member of a company limited by shares is measured. <br />
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-53454479875667829462018-11-12T22:56:00.003-08:002018-11-12T23:04:31.157-08:00Over-the-Counter (OTC) <div dir="ltr" style="text-align: left;" trbidi="on">
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Over-the-Counter (OTC) means the facilities provided by an exchange for the purpose of buying or selling of unlisted or delisted securities from the stock exchanges. <br />
<a name='more'></a>The OTC Market provides an alternative to stock exchange listing for securities of issuers that either choose not to be listed on main Exchange or not to meet the relevant listing requirements. The term “OTC Securities” is a catch –all phrases for any security that is not listed on stock exchange.</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-37001199348974107892018-11-12T22:54:00.001-08:002018-11-12T23:01:57.514-08:00Preference Share<div dir="ltr" style="text-align: left;" trbidi="on">
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Preference shares have a fixed percentage dividend before any dividend is paid to the ordinary shareholders. As with ordinary shares a preference dividend can only be paid if sufficient distributable profits are available, although with 'cumulative' preference shares the right to an unpaid dividend is carried forward to later years. The arrears of dividend on cumulative preference shares must be paid before any dividend is paid to the ordinary shareholders.</div>
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From the company's point of view, preference shares are advantageous in that<br />
<ul style="text-align: left;">
<li>Dividends do not have to be paid in a year in which profits are poor, while this is not the case with interest payments on long term debt (loans or debentures).</li>
<li>Since they do not carry voting rights, preference shares avoid diluting the control of existing shareholders while an issue of equity shares would not.</li>
<li>Unless they are redeemable, issuing preference shares will lower the company's gearing. Redeemable preference shares are normally treated as debt when gearing is calculated.</li>
<li>The issue of preference shares does not restrict the company's borrowing power, at least in the sense that preference share capital is not secured against assets in the business.</li>
<li>The non-payment of dividend does not give the preference shareholders the right to appoint a receiver, a right which is normally given to debenture holders.</li>
</ul>
However, dividend payments on preference shares are not tax deductible in the way that interest payments on debt are. <br />
Furthermore, for preference shares to be attractive to investors, the level of payment needs to be higher than for interest on debt to compensate for the additional risks.<br />
<br />
For the investor, preference shares are less attractive than loan stock because:<br />
<ul style="text-align: left;">
<li>they cannot be secured on the company's assets</li>
<li>the dividend yield traditionally offered on preference dividends has been much too low to provide an attractive investment compared with the interest yields on loan stock in view of the additional risk involved</li>
</ul>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-766949136851404502018-10-27T23:30:00.004-07:002018-11-12T22:54:43.731-08:00Rights issues<div dir="ltr" style="text-align: left;" trbidi="on">
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A rights issue provides a way of raising new share capital by means of an offer to existing shareholders, inviting them to subscribe cash for new shares in proportion to their existing holdings.</div>
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For example, a rights issue on a one-for-four basis at USD.10 per share would mean that a company is inviting its existing shareholders to subscribe for one new share for every four shares they hold, at a price of USD.10 per new share.<br />
A company making a rights issue must set a price which is low enough to secure the acceptance of shareholders, who are being asked to provide extra funds, but not too low, so as to avoid excessive dilution of the earnings per share</div>
Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-30360434101078839492018-10-27T22:46:00.000-07:002018-10-27T22:46:07.760-07:00Temporary Working Capital vs Permanent Working Capital<div dir="ltr" style="text-align: left;" trbidi="on">
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<b>Temporary working capital (TWC)</b> is the temporary fluctuation of net working capital over and above the <b>permanent working capital</b>.<br />
<a name='more'></a>It is the additional working capital requirement arising out of seasonal demand of the product or any special event which otherwise are not predictable<br /><br /></div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com1tag:blogger.com,1999:blog-5968504404101379236.post-76225384087431354672018-10-27T22:36:00.003-07:002018-10-27T22:40:28.712-07:00Sources of Funds<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgalhITnRhUhjHyyY-rFUiKlsUMVyzmF-8aHMHoJ4PVZ81pdqsxiYc9PCBkrcdmqCTyPheL314BEqg5O6UftRu_DybyS1zNQFYvGTD5epB8XM2nbrE4cWwJJJgytpdrZjDKZnwDlgxwCDi9/s1600/sources-of-fund.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="sources of funds" border="0" data-original-height="450" data-original-width="693" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgalhITnRhUhjHyyY-rFUiKlsUMVyzmF-8aHMHoJ4PVZ81pdqsxiYc9PCBkrcdmqCTyPheL314BEqg5O6UftRu_DybyS1zNQFYvGTD5epB8XM2nbrE4cWwJJJgytpdrZjDKZnwDlgxwCDi9/s1600/sources-of-fund.jpg" title="" /></a></div>
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Sourcing finance may be done for a variety of reasons. Traditional areas of need may be for capital asset acquirement - new machinery or the construction of a new building or depot. The development of new products can be enormously costly and here again capital may be required. Normally, such developments are financed internally, whereas capital for the acquisition of machinery may come from external sources.</div>
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A company might raise new funds from the following sources:<br />
<ul style="text-align: left;">
<li>The stock markets:</li>
<ul>
<li>new share issues, for example, by companies acquiring a stock market listing for the first time</li>
<li>rights issues</li>
</ul>
</ul>
<ul style="text-align: left;">
<li>Loan capital</li>
<li>Retained earnings</li>
<li>Bank borrowing</li>
<li>Government sources</li>
<li>Business expansion scheme funds</li>
<li>Venture capital</li>
<li>Franchising.</li>
</ul>
</div>
Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-71416165641104185382018-10-27T22:29:00.002-07:002018-10-27T22:44:25.031-07:00Financial Management<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Financial management</b> is concerned with the maintenance and creation of economic value or wealth/responsibilities and activities of financial managers.<br />
<a name='more'></a><b>Responsibilities of financial managers:</b> acquiring funds needed by a firm and for directing those funds into projects that will maximize the value of the firm for its owners.<br />
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<b>The financial objectives of the main types of organization:</b><br />
Organizational goals can be classified into a number of categories:<br />
<ul style="text-align: left;">
<li>Those that aim to make a profit for their owners</li>
<li>Those that aim to maximize benefit to society</li>
<li>Those that aim to maximize benefits to their members</li>
</ul>
</div>
Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-40987783796133621782018-01-14T02:42:00.005-08:002018-11-12T23:01:17.038-08:00Flexible Budgets<div dir="ltr" style="text-align: left;" trbidi="on">
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<br />
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
<a href="http://accounting-hub.blogspot.com/2017/07/what-is-budget.html" target="_blank">Budgets</a> are usually used to evaluate
performance after the fact, using a process known as variance analysis. Since
some costs are variable with respect to output and some are fixed, changes in
output will automatically lead to increases/decreases in costs absent any input
from managers. Since static budgets reflect planned output rather than actual
output, they are not a good basis of comparison to actual costs.</div>
<a name='more'></a><br />
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In order to use the budget as a
control tool (i.e., to evaluate cost and revenue performance at the end of the
period), budgets usually require revisions to reflect <i>actual</i> output
during the period rather than <i>planned</i> output.</div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
A <i>flexible budget</i> is designed
to facilitate these revisions, as the budget is prepared with full
consideration of variable costs, fixed costs, and the associated cost-volume
relations.</div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
Flexible budgets tell managers what
costs <i>should have been</i> given the actual level of output.<span style="mso-spacerun: yes;"> </span>This makes for a more equitable basis for
comparison with actual costs, and makes variances easier to interpret.</div>
</div>
Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-45535953220005948782018-01-14T02:40:00.004-08:002018-10-27T21:13:21.305-07:00Budgeted Balance Sheet<div dir="ltr" style="text-align: left;" trbidi="on">
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-7279625646063111862018-01-14T02:39:00.001-08:002018-10-27T21:13:50.770-07:00Budgeted Income Statement<div dir="ltr" style="text-align: left;" trbidi="on">
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text First Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Note Heading"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Block Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Hyperlink"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="FollowedHyperlink"/>
<w:LsdException Locked="false" Priority="22" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Document Map"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Plain Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="E-mail Signature"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Top of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Bottom of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal (Web)"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Acronym"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Address"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Cite"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Code"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Definition"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Keyboard"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Preformatted"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Sample"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Typewriter"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Variable"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal Table"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="annotation subject"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="No List"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Contemporary"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Elegant"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Professional"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Balloon Text"/>
<w:LsdException Locked="false" Priority="39" Name="Table Grid"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Theme"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" QFormat="true"
Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" QFormat="true"
Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" QFormat="true"
Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" QFormat="true"
Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" QFormat="true"
Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" QFormat="true"
Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" SemiHidden="true"
UnhideWhenUsed="true" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" SemiHidden="true"
UnhideWhenUsed="true" QFormat="true" Name="TOC Heading"/>
<w:LsdException Locked="false" Priority="41" Name="Plain Table 1"/>
<w:LsdException Locked="false" Priority="42" Name="Plain Table 2"/>
<w:LsdException Locked="false" Priority="43" Name="Plain Table 3"/>
<w:LsdException Locked="false" Priority="44" Name="Plain Table 4"/>
<w:LsdException Locked="false" Priority="45" Name="Plain Table 5"/>
<w:LsdException Locked="false" Priority="40" Name="Grid Table Light"/>
<w:LsdException Locked="false" Priority="46" Name="Grid Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="Grid Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="Grid Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 1"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 1"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 1"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 1"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 1"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 2"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 2"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 2"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 2"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 3"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 3"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 3"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 3"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 4"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 4"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 4"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 4"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 5"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 5"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 5"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 5"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 5"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 6"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 6"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 6"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 6"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 6"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="46" Name="List Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="List Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="List Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 1"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 1"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 1"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 1"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 1"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 2"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 2"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 2"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 2"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 2"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 3"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 3"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 3"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 3"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 3"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 4"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 4"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 4"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 4"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 4"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 5"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 5"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 5"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 5"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 5"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 6"/>
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<br />
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
The budgeted income statement is
easily generated using information from the previous budgets.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
To complete the computation of net
income, an estimate must be made of tax expense.</div>
<a name='more'></a><br />
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<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in;">
The computed net income is then incorporated
into the calculation of budgeted retained earnings, while estimates of ending
materials, work in process and finished goods inventories are incorporated into
budgeted assets. </div>
</div>
Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-86399013097249097512017-07-15T21:02:00.000-07:002018-10-27T21:24:39.397-07:00Advantages and Disadvantages of Budgeting<div dir="ltr" style="text-align: left;" trbidi="on">
A realistic <a href="http://accounting-hub.blogspot.com/2017/07/what-is-budget.html" target="_blank">budget </a>will motivate action. This may be true, but what is important is that the budgetary control system keeps the organisation fit, monitors its progress and provides an important database in the decision-making-process. The benefits and drawbacks of budgeting.<br />
<a name='more'></a><br />
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There are many advantages to using budgets. The advantages of budgeting includes:<br />
<ul>
<li>forces managers to plan.</li>
<li>provides performance benchmarks.</li>
<li>promotes communication and coordination.</li>
</ul>
There are the number of disadvantages of budgeting. The disadvantages of budgeting includes:<br />
<br />
<ul style="text-align: left;">
<li>consumes a good deal of time.</li>
<li>may lead to a short-term focus and “gaming” behavior.</li>
<li>managers may simply extrapolate current trends.</li>
<li>may lead to the impression that functional areas are independent.</li>
<li>may promote a “slash and burn” mentality in tough times.</li>
</ul>
<br />
</div>
Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com1tag:blogger.com,1999:blog-5968504404101379236.post-79525524921362768632017-07-15T01:11:00.003-07:002018-10-27T21:25:00.910-07:00Marketing and Administrative Costs Budget<div dir="ltr" style="text-align: left;" trbidi="on">
The marketing and administrative costs budgeting objective is to estimate the amount of marketing and administrative costs required to:<br />
<br />
<ul style="text-align: left;">
<li>Operate the organization at its projected level of sales and production.</li>
<li>Achieve long-term company goals.</li>
<li>These estimates are often based on prior period expenditures or planned expenditures, but adjusted for inflation, changes in operations, etc.</li>
</ul>
<br />
<div>
<br /></div>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-75877510223398595162017-07-15T01:09:00.003-07:002018-10-27T21:25:11.896-07:00Cost of Sales Budget<div dir="ltr" style="text-align: left;" trbidi="on">
Computation requires estimates of beginning and ending levels of work-in-process and finished goods inventories.<br />
If WIP levels are assumed to be constant, the calculation reduces to:<br />
<br />
<ul style="text-align: left;">
<li>Estimated cost of sales= Estimated production costs + Budgeted cost of beginning inventory – Budgeted cost of ending inventory<a name='more'></a></li>
</ul>
<br />
Estimated production costs consist of estimated materials costs, labor costs, and overhead costs from the previous budgeted amounts.<br />
<div>
<br /></div>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-52088023753047889412017-07-14T20:54:00.000-07:002018-10-27T21:25:20.804-07:00Purposes of Budgeting Systems<div dir="ltr" style="text-align: left;" trbidi="on">
<i>Budgeting system</i> - procedures
used to develop a <a href="http://accounting-hub.blogspot.com/2017/07/what-is-budget.html" target="_blank">budget</a>. Budgeting systems have five major purposes:<br />
<br />
<ul style="text-align: left;">
<li>Planning.</li>
<li>Facilitating communication and coordination.</li>
<li>Allocating resources.</li>
<li>Controlling profit and operations.</li>
<li>Evaluating performance and providing incentives.</li>
</ul>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-15881114558013844632017-07-13T20:45:00.000-07:002018-10-27T21:25:31.837-07:00The Master Budget - Definition<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
<i>Master budget - </i>a financial
plan of an organization for the coming year or other planning period. It generally culminates in a cash budget, a
budgeted income statement, and a budgeted balance sheet.</div>
<a name='more'></a><br />
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
The master budget is also called the <i>static
budget</i>.</div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
The master budget reflects
management’s best guess as to the sales levels, production and cost levels,
income, and cash flows anticipated for the coming year.</div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
Developing a master budget is a
dynamic process that ties together goals, plans, decision making, and
performance evaluation.</div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
<br /></div>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-63248630306196818952017-07-12T20:40:00.000-07:002018-10-27T21:25:41.320-07:00What is Responsibility Accounting<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
Responsibility accounting is based on the notion that managers should be held responsible for those (and only those) cost/revenue items that the manager can control to a significant extent.</div>
<a name='more'></a><br />
<div style="text-align: justify;">
However, while some costs may be uncontrollable, a manager may still be able to mitigate the incurrence of the cost through appropriate actions.</div>
<div style="text-align: justify;">
From a control point of view, someone in the organization must “take ownership” for each budget item or else no one will be responsible.</div>
<div>
<br /></div>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-61151663733491769432017-07-11T21:18:00.004-07:002018-10-27T21:25:51.577-07:00Overhead Budget<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
Amounts of labor and overhead expected
to be consumed are based on the production budget.</div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
These amounts are also used to
forecast staffing levels.</div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
Overhead estimates tie back to
estimated capital budgeting expenditures for capacity.</div>
<a name='more'></a><br />
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
Costs may be broken out into fixed and
variable components.</div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt 0.25in; text-align: justify;">
If activity-based costing is used for
budgeting purposes, levels of activities are forecasted based on anticipated
production, and overhead is estimated for each activity.</div>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-55208860587541343722017-07-11T21:15:00.002-07:002018-10-27T21:26:00.199-07:00Materials Purchase Budget<div dir="ltr" style="text-align: left;" trbidi="on">
We use the following relationship to forecast material purchase requirements:<br />
<br />
<ul style="text-align: left;">
<li>Required purchases in units= Materials to be used in production + Budgeted ending inventory- Budgeted beginning inventory</li>
</ul>
<a name='more'></a>Beginning and ending inventory levels are estimated using some inventory model, while production requirements are based on an estimated amount per unit.<br />
Multiplication of each component by the forecasted cost per unit converts these amounts to dollars.<br />
<div>
<br /></div>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-79892627231473081142017-07-11T21:10:00.000-07:002018-10-27T21:26:13.512-07:00Ending Inventory and Production Budgets<div dir="ltr" style="text-align: left;" trbidi="on">
We use the following relationship to forecast production requirements:<br />
<br />
<ul style="text-align: left;">
<li>Required production in units= Budgeted sales in unites + Budgeted ending inventory – Budgeted in beginning inventory<a name='more'></a></li>
</ul>
Three estimates required to forecast production:<br />
<br />
<ul style="text-align: left;">
<li>Budgeted sales in units.</li>
<li>Budgeted ending inventory.</li>
<li>Budgeted beginning inventory.</li>
</ul>
<br />
Estimated units in beginning and ending inventories based on inventory policies and/or market conditions.<br />
<div>
<br /></div>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-45966329637902896592017-07-11T21:06:00.001-07:002018-10-27T21:26:31.836-07:00Sales Budget<div dir="ltr" style="text-align: left;" trbidi="on">
The sales budget is the basis for all other budget components.<br />
Units to be sold are a function of the forecasted selling price.<br />
The <a href="http://accounting-hub.blogspot.com/2017/07/what-is-budget.html" target="_blank">budget</a> requires a forecast of sales, typically involving sales staff and market research. Various statistical techniques may also be used. Sales may be forecasted in units and in dollars.<br />
Budgeted revenues can be computed as:<br />
<br />
<ul style="text-align: left;">
<li>Forecasted sales (in units) x Forecasted selling price.</li>
</ul>
<br />
<div>
<br /></div>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-43862157552157440142017-07-11T20:38:00.003-07:002018-10-27T21:26:40.280-07:00What is a Budget?<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
A budget is a detailed plan for the acquisition and use of financial and other resources over a specified period of time. Good budgeting practice should provide for both planning and control.</div>
<a name='more'></a><br />
<div style="text-align: justify;">
</div>
<ul>
<li>Planning - developing objectives and preparing various budgets to achieve these objectives.</li>
<li>Control - the steps taken by management to increase the likelihood that the objectives set down at the planning stage are attained, and to ensure that all parts of the organization function in a manner consistent with organizational policies.</li>
</ul>
<br />
<div>
<br /></div>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com1tag:blogger.com,1999:blog-5968504404101379236.post-42639919195832058172016-07-07T01:59:00.000-07:002018-10-27T21:26:50.367-07:00Types of Fixed Costs<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Committed fixed costs -</b> relate to the investment in facilities, equipment, and the basic organizational structure of the firm. Examples include depreciation of buildings and equipment, taxes on real estate, insurance, etc.<br />
<a name='more'></a><br /><br /><b>Discretionary fixed costs -</b> usually arise from annual decisions by management to spend in certain fixed cost areas. Examples include advertising, research and development, public relations, etc.<br /><br />The trend in many companies is toward more fixed costs relative to variable costs, primarily through investments in automation and technology. This has led to an increase in the demand for knowledge workers needed to operate the machinery or technology. <br /><br /></div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-43270656141283037172016-07-06T01:53:00.000-07:002018-10-27T21:27:03.783-07:00What is Value Chain Analysis?<div dir="ltr" style="text-align: left;" trbidi="on">
The value chain for any firm in any business is the linked set of value-creating activities all the way from basic raw material sources for component suppliers through to the ultimate end-use product delivered into the final customers’ hands.<br /><br />The value-chain focus of management today is largely internal to the firm (its purchases, its processes, its functions, its products, its customers). This perspective is too narrow if considered in a strategic context.<br /><br />Strategic/competitive advantage is gained through managing the entire value chain from raw material supplier to the end user.<br /></div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0tag:blogger.com,1999:blog-5968504404101379236.post-63964054486597415942016-07-05T01:18:00.000-07:002018-10-27T21:27:17.326-07:00Definition of Management Accounting<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
Management needs detailed information on different aspects to arrive at meaningful decisions. Financial accounting provides some information but these are not adequate. Management accounting removes these limitations of financial accounting. </div>
<a name='more'></a><br />
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Thus, management accounting means- “Accounting for Management to discharge its functions including organising, planning, directing and controlling. </div>
<blockquote class="tr_bq">
<div style="text-align: justify;">
Definition :- According to American Accounting Association, “Management accounting includes the methods and concepts necessary for effective planning, for choosing among alternative business actions and for control through the evaluation and interpretation of performance.” </div>
</blockquote>
<blockquote class="tr_bq">
<div style="text-align: justify;">
R.N. Anthony :- Management accounting is concerned with accounting information that is useful to management</div>
</blockquote>
</div>
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Kamrul Hasan Noorhttp://www.blogger.com/profile/10454900610205086029noreply@blogger.com0