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Labour Cost – Classification of Labour Cost

There are different methods used in calculating labour cost. In this article, I will talk more about the three methods…

Control Account Definition – Uses & Adv. of Control Account

What is a Control Account? Control Account is a memorandum account into which are transferred in totals, the various amounts…

Bank Reconciliation Statement +Video Guide

Bank Reconciliation Statement A bank reconciliation statement is a statement drawn up to verify the cash book balance of an…

Importance of Accounting in an Economy

Accounting is no doubt, the universal language of business and figure. Those that fluently speak the language are called accountants.…

Contract Costing – Format for Notional Profit

In this summary, you will learn the definition of the term Contract Costing, The Characteristics and Problems associated with a…

Overhead Costs Definition – What is Overhead Costs?

Overhead costs are those costs that cannot be traced directly to the level of activities of an organization. The overhead…

Vitiating Factors – 5 Major Vitiating Factors

Vitiating Factors are statements that drastically destroy or reduce the effectiveness of something or an agreement or contract which causes…

Objectives Of Management

OBJECTIVES OF MANAGEMENT In this article, you"ll learn the Objectives of management, Importance of management to modern day organization, and…

Waves And Sounds – Wave Parameters

This article will help you understand the wave parameters, classes, types, and properties of waves. you will also read on…

Law of Partnership – The Partnership Law

In law, a partnership is not a charitable organization or a social club. The partnership is therefore expected to make…

Business Ideas – Sources of Business Ideas

A business idea is a concept that can be used for financial gain that is usually centered on a product…

Questions on Linear Programming

Linear Programming is a mathematical method used to allocate scarce resources. It is a technique used to optimize the value…