Managerial Accounting

Managerial accounting involve with costs identifying, costs allocating, cost calculating, costs measuring, cost analysing and costs interpreting. There are many topics that we cover related to managerial accounting or costs accounting:

  • Activities Base Costing
  • Absorption Costing
  • Cost accounting
  • Close allocation
  • Variance Analysis

How Do You Record the Journal Entry for Petty Cash?

Cash transactions are one of the most common activities within any company. Usually, these involve paying various parties or receiving cash from them. However, most companies have transferred these transactions to their banks. This way, they have automated the system or made it smoother. However, companies still need cash at hand to handle various transactions. …

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How to Calculate Average Fixed Cost? Formula, Definition and Example

Companies incur different types of costs during the regular course of their operations. These costs may differ based on various criteria. For example, they may come from several sources or have a specific nature. Companies must identify these costs and separate them for better costing and decision-making. This process falls under the managerial accounting function …

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What Are the Features And Characteristics of Managerial Accounting?

Accounting incorporates various tasks that companies must perform to deal with financial transactions. This process involves recording, summarizing, analyzing, and reporting financial information. However, the most relevant branch of accounting is financial accounting. Within this branch, companies seek to prepare financial statements. These statements provide details of a company’s operations and activities for a period. …

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What are Product Costs in Managerial Accounting?

Managerial accounting refers to a branch of accounting that covers the flow of information internally. This branch covers various tools and techniques that companies can use to enhance decision-making. While financial accounting covers reporting information externally, managerial accounting is for internal purposes. For most companies, it is more crucial than financial accounting as it has …

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What are Prime Costs in Managerial Accounting?

In managerial accounting, separating direct and indirect costs is highly crucial. Managerial accounting refers to the branch of accounting which covers the internal accounting process. This branch covers the information flow within a company, particularly to managers. Based on this information, managers can make well-informed and better decisions. One of the fundamental areas included within …

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