1. Balance Sheet
Let’s see how the basic accounting principles and guidelines affect the balance sheet of Mary’s Design Service, a sole proprietorship owned by Read more


UNIT COSTSUNIT COSTSPROCESS COST SYSTEMThe process cost system is used by firms manufacturing identical products in a continuous mass production. As opposed to job order Read more


CORPORATIONSCORPORATIONSINTRODUCTION TO CORPORATIONSA corporation is an legal entity created by state law. It has a distinct and separate existence from the individuals who created it, Read more


BUDGETSBUDGETSINTRODUCTION TO BUDGETINGBudgets are formal operating plans expressed in financial terms. Budgets help management1- planning for the future and setting goals,2- motivating employees,3- coordinating activities,4- Read more


COST ACCOUNTINGCOST ACCOUNTINGINTRODUCTION TO MANUFACTURING OPERATIONSIn manufacturing, raw material is transformed with the help of labor and machinery. In a merchandising firm, only one type Read more


LIABILITIESLIABILITIESCORPORATE FINANCING OPTIONSCorporations can raise funds by issuing common stock, preferred stock, long-term bonds or notes. The board of directors is responsible for choosing financing Read more