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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…
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…
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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…
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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…
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…
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…
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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…
SUB MARKETS / COMPONENTS OF MONEY MARKET In view of the rapid changes on account of financial deregulation and global financial markets integration, central banks in several countries have striven to develop and deepen the money markets by enlarging the scope of instruments and participants so as to improve the transmission channels of monetary policy….
Structure of Indian Money Market ; Composition of Indian Money Market STRUCTURE/ COMPOSITION OF INDIAN MONEY MARKET Money market is a market for lending and borrowing of short-term funds and financial instruments. The structure of money markets determines the type of instruments that are feasible for the conduct of monetary management. Evidence and experience indicate…
Functions of money market ; Functions of money market in India ; Functions of money market ppt Money market is the market for dealing in monetary assets of short-term nature. Short term funds up to one year and financial assets that are close substitutes for money are dealt in the money market. In other words,…
