Bank reconciliation statement
Explain the term bank reconciliation statement?
Expert
In banking scenario the account and mirror account containing the opposite sign. The procedure matching real account and mirror accounting is termed as Reconciliation. This reconciliation to that of a bank then it is termed as Bank's Reconciliation. Therefore, the statement is termed as Bank Reconciliation Statement.
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
How to make a VAT entry in books including set off?
Outcome: The outcomes of a program activity as compared to its intended aims. Program outcomes might be computed in terms of service or product quality and quantity, customer satisfaction, and usefulness.
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
Normal 0
Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.
What are the various features of the management accounting information system?
What do you mean by the term provision of management accounting information?
What do you mean by the term balancing risk and return? Explain in brief?
18,76,764
1941550 Asked
3,689
Active Tutors
1433071
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!