Revision question on how to prepare trial balance and ledgers.

Revision question on how to prepare trial balance and ledgers

The following information was extracted from the books of Kadege who operates a hardware business in Ngoma District as at 31 December 2016.

Balances brought forward:

Transactions during the year ended 31 December 2016: read more

Revision question on how to calculate break-even point and margin of safety.

Revision question on how to calculate break-even point and margin of safety

Bonne Bia limited is a newly formed company in the catering business founded by Kate and Paul Johnson. Kate and Paul have considerable experience in the food industry and saw an opportunity to establish a food/beverage business to service the tourist market during the four months from May to August. The business will be located in Wexford and permission has been obtained from Wexford County Council (WCC) to operate a food/beverage outlet near Curracloe beach. At present Kate and Paul are trying to decide between two possible food/beverage options. Pertinent information relating to each of the options is shown below. Initially, Kate and Paul intend to operate the outlet themselves without employing any other staff. read more

The reason why management accounting has become so important to a business.

importance of management accounting in business

Management accounting is the process of preparing management reports and accounts that provide accurate and timely financial and statistical information required by managers to make day-to-day and short-term decisions. read more

direct material variance – meaning and formula

Direct material variances are also known as material cost variances. The material cost variance is the difference between the standard cost of materials that should have been incurred for manufacturing the actual output and the cost of materials that have been actually incurred. Material Cost Variance consists of: read more