Accounting

In the auditing process, assertions are claims that determine if financial statements are genuine and correctly represented. In terms of the existence or occurrence of…

Budgeting is an art form. Businesses can use a variety of accounting tools to plan for and track their monetary activity. A flexible budget is…

The statement of cash flows, commonly known as the cash flow statement, is a financial statement that demonstrates how changes in balance sheet accounts and…

A conventional cash flow is a sequence of inward and outward cash flows with just one change in cash flow direction over time. It indicates…

A flexible budget allocates different budgeted costs to various levels of activity. It is created after intelligently categorizing all expenses as fixed, semi-variable, or variable…

Budgets are estimates of the amount of money that a business or other organization takes in and spends over a specific time period. Budgets are…

A flexible budget is a budget that is mostly used as a static budget and basically changes with changes in the volume or activity held…

A flexible budget is one that adjusts or flexes in response to changes in volume or activity. A flexible budget is more advanced and useful…

The word “hobby loss” is an accounting and tax term that refers to a specific form of loss or expenditure. It refers to a loss…

A flexible budget, on the other hand, does not predetermine a period’s cash flow. When combined with a fixed budget, it is an excellent performance…

Overhead variances occur when actual overhead costs differ from expected amounts. The difference between the standard cost of overhead allowed for the actual output achieved…

The difference between actual and applied overhead is referred to as overhead variance. The overhead variance is the difference between the standard overhead costs allowed…