Classification of Expenses
Following are the classification of expenses: 1. Direct Expenses, 2. Indirect Expenses, 3. Operating Expenses, 4. Non-Operating Expenses, 5. Variable...
Following are the classification of expenses: 1. Direct Expenses, 2. Indirect Expenses, 3. Operating Expenses, 4. Non-Operating Expenses, 5. Variable...
Expense means the cost of purchasing something or the cost of operating a business. This includes product purchases, salaries, wages, depreciation...
Classification of Liabilities: For better understanding and management, liabilities are classified as short-term liabilities and long-term liabilities, etc.
Liability means financial responsibility and it is the financial responsibility of the person who is responsible to give something in return. It includes...
Following are the classification of assets: 1. On the basis of conversion: Fixed Assets... 2. On the basis of existence, 3. On the basis of operation...
Assets means everything that is owned by someone and that has monetary value and is used to buy and gain assets, pay liabilities, etc. This includes money...
Following are the contents of manufacturing account: 1. Debit Side: Opening Stock, Manufacturing Expenses... 2. Credit Side: Manufacturing Income, Closing...
The format of manufacturing account is described below: 1. General: It contains all the external... 2. Debit and Credit, 3. Particulars, 4. Amount, 5. Total...
Following are the objectives of manufacturing account: 1. Cost Calculation, 2. Price Determination, 3. Monitoring of Manufacturing Activities, 4. Help in...
Manufacturing account is a financial statement of a business and shows all the economic activities related to the manufacturing of finished goods and...