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What is committed cost?
Bharat Chander
- Aug 4th, 2014
Committed cost is sunk cost which has been already incurred in past and which has to be incurred by entity for future obligations. This cost is not relevant for any decision making in short run.
Lakshmikanth Dandu
- Jan 27th, 2011
Committed cost is also know as sunk cost, it is cost which has already been incurred in the past. It is not relevant for decision making and is caused by complete abandonment as against temporary shut down. This should be constrasted with discretionary costs, which are avoidable costs.
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Contingent Liability
Why are contingent liabilities ever recorded—why not just wait until a lawsuit is settled? What accounting concepts apply to this situation?
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nkamuni_mca- Member Since Dec-2007 | Mar 10th, 2010
Contingent Liability is the liability which may / may not occour in future... So, it is shown as notes rather then in balance sheet... Once, the liability become's real then it will recorded in books.
GIRISH GARG
- Sep 1st, 2014
Contingent liability is a liability that may or may not occur in future. It depends upon an event that will occur in future and can make a company liable to it. Example. when 2 cos A and B are in disp...
chandu
- Mar 28th, 2012
Contingent liability nothing but liability it will occur uncertain future events like product warranty.
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What are the various items fall in balance sheet
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baubisingh- Member Since Nov-2010 | Nov 15th, 2010
(A)asset side items are
1 cash in hand
2.cash at bank
3.debtor
4.land ,building
5.prepaid expenses
6. bills receivable
(B)liability side
1.capital
2.bank over draft
3.creditor
4.outstanding expenses
5.bills payableSatyanarayana raju
- Jun 14th, 2015
Liabilities side:
Capital
Loans availed
Current liabilities
Duties and taxes
Provisions
Sundry Creditors
Assets side
Fixed assets
Current assets
investments
stock on hand
Cash and bank balances
Deposits
Loans and Advances (Asset)
Miscellaneous expenses(Asset)Anil sharma
- Apr 9th, 2015
Asset side :
fixed assets
current asset and loan in advance
investment
misclinious exp.
p&l if debit bal.
Liability :
share capital
reserve and surplus
secured loan
unsecured loan
c.l and provision -
How many methods are used to calculate depreciation
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kordar- Member Since Jun-2008 | Jun 18th, 2008
3 popular types
1st straightline
2nd declining balance
3rd Sum-of-Years' Digits MethodAbhishek
- Jul 15th, 2015
1. Straightline depreciation
2. Reducing balance depreciation
3. Sum of the year digits depreciation
4. Units of activity depreciationDhananjay
- Nov 12th, 2011
There are two types of method to calculate depreciation 1) Straight line method and 2) Reducing line method
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What are the different kind of mis reports
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subhash chandra sharma- Member Since Dec-2008 | Dec 30th, 2008
MIS: Management Information System
There is no pre-defined types of MIS but as per requirements of the management it can be of many type.
Fazal
- Aug 4th, 2015
Management Information System Reports (MIS) is such an information system that very much helpful to take Business Decisions by a Companys top level management. Kinds of MIS may vary as per Business policy of the Company.
kumardurgam
- Mar 12th, 2009
MIS reports are prepared for the management to take key manegerial decisions. It may vary from company to company and industry to industry.
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Expenditure Reports, Monthly allotment Reports, Quarterly Reports
Give me examples of the accounting reports you have prepared?
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How to place journal entry for purchase order in books of account ?
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dhulipala- Member Since Jun-2010 | Jun 24th, 2010
Generally there is no journal entry at the time when one receives a purchase order as this receipt of purchase order cannot be recognized as revenue at this point of time.
But under following circumstance there would be an entry:
when any advance is received:-
Cash/ Bank Dr
Party account
AMOL
- Nov 16th, 2017
What are PO and GRN Journal?
prasoon
- May 14th, 2015
1st Qustn Anw
Received 4000
Discount allowed 1000
Bad debt. 5000
To Debtor. 10000. -
FBL5N Report Generation
When I am generating Report in FBL5N, as on 31.03.2018 showing 10 open items but in all items showing only 5 open items.... can anyone advise me how to get 10 open item in all items
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Accounting Reports
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