Important Differences between Routine checking and Test checking
by Routine checking Routine checking is a type of audit procedure that involves the regular examination …
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Types of Audit, Audit by Specialty of Area
Auditing refers to the process of examining and verifying financial and operational records and activities …
Marginal Costing, Definitions, Types, Advantages, Disadvantages and Example
Marginal costing is a costing technique in which only the variable costs of a product …
Budgetary Control, Features, Techniques, Advantages, Disadvantages and Example
Budgetary control is a systematic process of planning, controlling, and coordinating business activities by establishing …
Reconciliation of Cost and Financial Accounts
Reconciliation refers to the process of comparing two sets of records or accounts to ensure …
Service costing, Features, Types, Benefits, Example
Service costing is a method of cost accounting used to determine the cost of providing …
Preparation of Cost Sheet and Tender Price, (Calculation of Tender, Quotation and Estimated price)
Cost Sheet: A cost sheet is a statement that shows the various costs that are …
Process Cost Accounting, Features, Types, Process, Advantages and Disadvantages, Example
Process cost accounting is a method used to determine the cost of production of goods …
Unit Output Costing, Concept and Need for Unit Output Costing
Unit output costing is a method of costing used to determine the cost of producing …
Allocation, Apportionment and Absorption of Overheads
Allocation, apportionment, and absorption are three methods used in cost accounting to assign or allocate …