Author: indiafreenotes

Management of employees: Managing employees is the foremost duty of a retail manager. This includes the management of store’s employees…

Highest-In First-Out (HIFO) is a type of stock distribution and valuation method. The HIFO method follows the concept that stock…

Material control is the process of systematically controlling materials over the stages of procurement, storage, and usage so as to…

Realizable Price Method Net realizable value (NRV) is the value for which an asset can be sold, minus the estimated…

The specific identification method relates to inventory valuation, specifically keeping track of each specific item in inventory and assigning cost…

(1) Personnel Department: This department in a large organisation is responsible for recruitment, training discharge, transfer etc. and maintaining their…

The cost of labour is the amount of all salaries paid to the workers, as well as the employee benefits…

The implementation of a cost accounting system is an important step for a growing small business. Implementation begins with identification…

Direct Cost Direct costs can be easily identified as per the expenditure on cost objects. So, for example, if we…

A cost accounting system is used by manufacturers to record production activities using a perpetual inventory system. In other words,…