The piece of accounting system which works with the administration process decision-making is called management accounting. Essentially it is the investigation of the administrative part of financial accounting, ” accounting according to the board work”. It shows how the accounting function can be re-arranged in order to fit it inside the structure of the executive’s …
The key difference between vouching and verification is, vouching is used to check the accuracy of entry which is done in books of accounts. We compare the book of accounts to vouchers either the entry is correct or not. Whereas verification is a process to check the validity of assets and liabilities appearing in the …
The two decisive aspects of profits are cost and revenue. Companies can create larger profits by increasing the revenue base and managing costs at an appropriate level. Costing and cost-accounting are used to control and reach cost decisions. While costing is known as the exercise of costing, cost accounting is a systematic process of analysis, …
