Categories
ACCA P2 ACCA F7 FINANCIAL ACCOUNTING

Accounting records – meaning

Accounting records - meaning

Accounting records are the records of initial accounting entries and supporting records, such as:

checks and records of electronic fund transfers;

invoices; 

contracts; 

the general and subsidiary ledgers, read more

Categories
MANAGEMENT ACCOUNTING ACCA F5 ACCA P5 Budgetary systems and types of budget BUDGETING AND CONTROL

5 stages involved in zero based budgeting system.

need of human resource accounting



The zero-based budgeting system is budgeting system that require every item of expenditure to be justified as if particular activity or program is taking off the first time. read more

Categories
MANAGEMENT ACCOUNTING ACCA F5 ACCA P5

3 Purposes of transfer pricing.

3 Purposes of transfer pricing.

A transfer price may be defined as price related to goods or other services transferred from one sub unit (process, department, member of the group etc) to another sub unit within the same organization. read more

Categories
MANAGEMENT ACCOUNTING ACCA F5 ACCA P5

Relevant cost – meaning.

Relevant cost - meaning.



Relevant cost are future cash flows arising as a direct consequence of decision.
Relevant cost must be:

  • the cost that will occur in the future
  • cost that will result in the cash flow
  • arise as direct consequence of the decision
  • read more