Month: November 2019

Content Contra Asset Allowance for doubtful debts accounts Types of contra asset accounts How is a Contra Account Used? Free Financial Statements Cheat Sheet This is treated as loss during the period, also called bad debt expense. This loss is treated as an ordinary business expense and is deducted from the asset’s balance. Contra Equity… Continue reading Contra Account financial definition of Contra Account

Content How ABC Works in Practice What Is an Activity Cost Driver? ABC – Definition Cost Driver Time-Driven Activity-Based Costing Step-by-step breakdown Till date X and co was using traditional absorption costing to its product. Activity Based Costing calculates the true cost of the product by the amount of resources consumed. The amount of resources… Continue reading PDF Cost Drivers Evolution and Benefits Gary Cokins

Content Accounting Details 9 Process Costing Overview Review Problem 4.4 Direct Materials . Define equivalent units and use them to assign costs to products using the weighted average method Steps in Process Costing Business is Our Business Finally, split up the costs by allocating the appropriate amounts to the number of products completed, as well… Continue reading Difference Between Job Costing And Process Costing 800 Words