Both financial forecasting and financial projection are essential financial tool for your business. These tools are used to estimate future financial performance. Both tools help business plan, but forecasting is more about predicting with data. While projections contains planning for the future based on assumptions and goals. We can make differentiates from them through their […]
Classification of Costs According to Elements Material Cost Labour Cost Service Cost According to Variability Fixed Cost Variable Cost Semi-variable Cost According to Normality Normal Cost Abnormal Cost According to Traceability Direct (Traceable) Cost Indirect (Non-Traceable) Cost According to Functions Manufacturing/Production Cost Administration Cost Selling and Distribution Cost Research and Development Cost According to Controllability […]
The History of Accounting The Accounting has an wider and enrich history over thousands of years. It has started from simple record keeping to complex, modern accounting practice we use today. General overview of the history and development of Accounting are given below: Early development was closely related to writing, counting and money. The early […]