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    • Introduction to management accounting
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Month: May 2022

What is an investment center?

May 26, 2022 Khayyam Javaid, ACA

Investment center is a segment of an organization given the responsibility for its own revenues, costs and capital investments. It…

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Posted in: Introduction to costs, Management Accounting

What is a profit center?

Khayyam Javaid, ACA

Profit center is a segment of an organization where costs are incurred and revenues are earned. It is therefore accountable…

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Posted in: Introduction to costs, Management Accounting

Cost unit vs. cost center

Khayyam Javaid, ACA

Cost unit is a unit of output (product or service) to which costs can be related. Cost center is any…

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Posted in: Introduction to costs, Management Accounting

What is a cost center?

Khayyam Javaid, ACA

Cost center is any part of an organization where costs are incurred and is only responsible for the costs that…

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Posted in: Introduction to costs, Management Accounting

What is a cost unit?

May 24, 2022 Khayyam Javaid, ACA

Cost unit is a unit of output (product or service) to which costs can be related. Students not familiar with…

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Posted in: Introduction to costs, Management Accounting

Classification of costs by behavior

May 20, 2022 Khayyam Javaid, ACA

Cost behavior is the manner in which a cost behaves in response to a change in level of production or…

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Posted in: Introduction to costs, Management Accounting

Types of costs

Khayyam Javaid, ACA

Cost represents the expenditure incurred by a business to acquire goods, services or assets. Accountants classify these costs in different…

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Posted in: Introduction to costs, Management Accounting

What is a cost?

May 19, 2022 Khayyam Javaid, ACA

Cost is the amount spent on manufacturing or purchasing goods or services, or the amount spent to construct or purchase…

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Posted in: Introduction to costs, Management Accounting

Limitations of cost and management accounting

May 16, 2022 Khayyam Javaid, ACA

All professional accountancy qualifications such as chartered accountancy, ACCA etc. have a subject of cost and management accounting as there…

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Posted in: Introduction to management accounting, Management Accounting

What is management reporting?

May 9, 2022 Khayyam Javaid, ACA

All businesses try to manage their operations as efficiently as possible in order to meet their goals and objectives. For…

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Posted in: Introduction to management accounting, Management Accounting

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    Financiopedia
    • Financial Accounting
      • Basics of accounting
      • Double-entry accounting system
      • Accounting cycle
      • Accounting principles
      • Bookkeeping
      • Accounting of assets
      • Property, plant and equipment
      • Financial instruments
      • Inventory
      • Accounts receivable
      • Accounting of liabilities
      • Accounting of income
      • Accounting of expenses
      • Financial statements
      • Ratio analysis
    • Management Accounting
      • Introduction to management accounting
      • Introduction to costs
      • Material and labour costs
      • Marginal and Absorption Costing
      • Inventory valuation
      • Inventory management
      • Costing systems
      • Budgeting
      • CVP analysis
    • IFRS
      • IFRS 15 – Revenue from contracts with customers
      • IFRS 9 – Financial Instruments
    • About Us