Author: commerceiets

COST ACCOUNTING IS AN INDISPENSABLE TOOL OF MODERN MANAGEMENT – BEST HIGHLIGHT OF THE STATEMENT

May 12, 2023May 12, 2023 commerceiets No Comments

COST ACCOUNTING IS AN INDISPENSABLE TOOL OF MODERN MANAGEMENT The statement “Cost accounting is an indispensable tool of modern management” highlights the importance of cost accounting in contemporary business operations. Cost accounting provides vital information and analysis that enables effective decision-making, resource allocation, and performance evaluation within an organization. Let’s discuss the nature and scope…

COST ACCOUNTING

MEANING AND SCOPE OF COST ACCOUNTANCY BEST NOTES

May 9, 2023May 12, 2023 commerceiets No Comments

MEANING AND SCOPE OF COST ACCOUNTANCY Cost accountancy is a specialized field of accounting that focuses on analyzing, managing, and reducing business costs. According to the Institute of Cost and Management Accountants London “Cost accountancy is the application of costing and cost accounting principles. Methods and techniques to the science, art and practice of cost…

COST ACCOUNTING

OBJECTIVES AND ADVANTAGES OF COST ACCOUNTING – DETAILED EXPLANATION

March 25, 2023February 10, 2025 commerceiets

OBJECTIVES AND ADVANTAGES OF COST ACCOUNTING COST ACCOUNTING Cost Accounting is an art or process of recording, analysing and classifying of expenditure for the purpose of product costing or service costing, ascertainment of profitability, operational planning and cost control. It is a forward-looking approach which is related to the recording, analysing and classifying of expenditure with the…

COST ACCOUNTING

10 ESSENTIALS OF A GOOD COSTING SYSTEM

March 24, 2023March 24, 2023 commerceiets No Comments

ESSENTIALS OF A GOOD COSTING SYSTEM A costing system is a set of procedures and techniques used by businesses to determine the cost of producing a product or providing a service. Costing systems are designed to capture all the costs associated with the production process, including direct materials, direct labor, and overhead costs, such as…

COST ACCOUNTING

WHY COST ACCOUNTING IS NECESSARY – BEST DETAILED EXPLANATION

March 24, 2023March 24, 2023 commerceiets No Comments

WHY COST ACCOUNTING IS NECESSARY ??? COST ACCOUNTING Cost Accounting is an art or process of recording, analysing and classifying of expenditure for the purpose of product costing or service costing, ascertainment of profitability, operational planning and cost control. It is a forward-looking approach which is related to the recording, analysing and classifying of expenditure…

COST ACCOUNTING

LINEAR PROGRAMMING TERMS AND DEFINITIONS WITH EXAMPLES CLEAR EXPLANATIONS

March 17, 2023March 17, 2023 commerceiets No Comments

LINEAR PROGRAMMING TERMS AND DEFINITIONS LINEAR PROGRAMMING Linear programming deals with the optimization (maximization or minimization) of a linear function, called objective function, involving number of variables, subject to the set of variables, subject to the set of linear equalities and for inequalities called constraints and variables should be non-negative. ACCORDING TO SAMUELSON AND SLOW…

OPERATIONS RESEARCH

SCOPE OF OPERATIONS RESEARCH IN BUSINESS

March 16, 2023February 23, 2025 commerceiets

SCOPE OF OPERATIONS RESEARCH IN BUSINESS OPERATIONS RESEARCH Operations research is the application of scientific method to problem arising from operation involving integrated system of men, machine and material. It normally utilises the knowledge and skills of an inter-disciplinary research team to provide the management of such system with optimum operating solution. ACCORDING TO HM…

OPERATIONS RESEARCH

LINEAR PROGRAMMING PROBLEMS SOLVED PYQ’S

March 16, 2023February 7, 2025 commerceiets

LINEAR PROGRAMMING PROBLEMS – GNDU PREVIOUS YEAR QUESTIONS Define linear programming? Discuss its applications in various functions quoting examples from real life? Answer: Linear programming deals with the optimization (maximization or minimization) of a linear function, called objective function, involving number of variables, subject to the set of variables, subject to the set of linear…

UNIVERSITY STUDENT NOTES

INTRODUCTION TO OPERATIONS RESEARCH – PREVIOUS YEAR QUESTIONS GNDU

March 15, 2023March 25, 2025 commerceiets

INTRODUCTION TO OPERATIONS RESEARCH – PREVIOUS YEAR QUESTIONS GNDU Define Operations Research? Describe the characteristics and limitations. OPERATIONS RESEARCH Operations research is the application of scientific method to problem arising from operation involving integrated system of men, machine and material. It normally utilises the knowledge and skills of an inter-disciplinary research team to provide the…

UNIVERSITY STUDENT NOTES

PARTICIPANTS OF MONEY MARKET

January 23, 2023February 28, 2025 commerceiets

INSTITUTIONS/ PARTICIPANTS OF MONEY MARKET The institutions of money markets are those which deal in lending and borrowing of short term funds. The institutions of money market are not the same in all the countries of the world, rather they differ from country to country. The commercial banks, central banks, acceptance houses, non-banking financial intermediaries…

FINANCIAL MARKET OPERATIONS