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Norms and Limits An acceptable Non-current asset to Net Worth ratio is about 1-1.25 and lower, but it is still dependent on the industry. For capital-inte...
Generally, the amount of prepaid expenses that will be used up within one year are reported on a company’s balance sheet as a current asset. As the amount...
Journal Entry Format Each journal entry includes the date, the amount of the debit and credit, the titles of the accounts being debited and credited (with...
If more materials are used than needed or budgeted for the job, an unfavorable efficiency variance results. Conversely, a favorable direct materials effic...
Record the Loan Record the Loan. Record the loan proceeds and loan liability. To record the initial loan transaction, the business enters a debit to the c...
Reprogramming is the shifting of funds within an appropriations account “to use them for purposes other than those contemplated at the time of appropriati...
The “reasonable person” is a hypothetical individual who approaches any situation with the appropriate amount of caution and then sensibly takes action. I...
To obtain the fixed overhead volume variance, calculate the actual amount as (actual volume)(assigned overhead cost) and then subtract the budgeted amount...
A management control system (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like hu...
A joint stock company is financed with capital invested by the members or stockholders who receive transferable shares, or stock. It is under the control ...
The statement of owner’s equity reports the changes in company equity, from an opening balance to and end of period balance. The changes include the earne...
Methodology Country GDP Growth Forecast 2020 (%) Competitiveness Score 2019-2020 Cambodia -1.587 52.1 China 1.181 73.9 India 1.871 61.4 Indonesia 0.499 64...
