What is the basis of Purchasing?

ahmedali

 Profile Answers by ahmedali Questions by ahmedali

• Jun 22nd, 2008

Details of purchasing

CK Wong

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• Jun 11th, 2008

Coming from a manufacturing environment, the key functions of purchasing are twofold - supply & cost:(1) Ensure production plans are always met - no downtime (of course no line down) because of&nb...

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c7831887

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• May 21st, 2009

There are two types of freight charges one is Inward and the other one is Outward.Inward is grouped under Direct expenses and it may be taken into landed cost.? Outward is grouped under Indirect expense and it will be?incurred after production.

jajpur78

 Profile Answers by jajpur78 Questions by jajpur78

• Sep 2nd, 2008

Its a direct expense and it is basically the expenditure that is spent in production for transportation.

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Sadiq

• Nov 23rd, 2014

Cash basis = Received / paid cash on the spot (only cash transactions)

Accrual basis includes cash as well as on credit. (receivable and payable)

Deepthi

• Oct 27th, 2011

Cash basis accounting is when record in books once we receive cash in hand/bank or when we make payment in cash or through bank but accrual basis once we accure the income we record in the book irrespective of whether we received or not.

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Do not explain just defination........ answer should contain example

Suyash Shah

• Sep 12th, 2017

Product is an object which, in itself, is static & does not involve time as one of its dimension. On the other hand, process is continuous & essentially implies time as one of its ingredients. So, the cost of product is arrived per unit & that of process is arrived per unit time.

Jitender Chhabra

• Oct 1st, 2015

Product Costing mean sum of all cost incl. Material (Direct), Labour (Direct/Indirect), all Overheads (factory overheads, selling & distribution overheads, admin overheads etc..) which are involved to...

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sreekanthvsk

 Profile Answers by sreekanthvsk Questions by sreekanthvsk

• Jun 11th, 2008

Variable cost or Marginal cost is the cost that is directly proportionate to the number of units being produced (unit being a Tangible item produced or an Intangible service that is provided). It incr...

chowdary.thakkella

• Nov 27th, 2006

Variable costs are dependeing upon production. u re increases production automatically variable cost is also increased.decrease in production means automatically variable cost decreased. 

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shaik. rafee

• Feb 26th, 2007

5 years

azeez

• Jan 9th, 2007

In a manufacturing company diffrent shops they will send docket for the no. of hours they are worked.   We feed the docket and have to prepare the labour cost ledger.  Material accounti...

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What is the difference between cost accounting and management account

ngodza22

 Profile Answers by ngodza22 Questions by ngodza22

• Jun 29th, 2008

Since fixed cost doesn't change whether you decide to produce or not to produce...eg rent, thus in marginal costing fixed cost element is removed so as to arrive at contribution... hence fixed cost is irrelevent cost in marginal costing

ngodza22

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• Jun 29th, 2008

Cost accounting :is mainly concerned with data captive, recording, accumulation & interpretation of information cost of prodution so as enable management to focust & relevent decision.Manageme...

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ahmedali

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• Jun 23rd, 2008

What is limited liability clause complet detailes of this question

umairahmedpk

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• Jun 12th, 2008

Limited liability caluse is mentioned in memorendum of association. Under this clause, it is mentioned that the liability of the members of the company i.e share holders have liability upto their amou...

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What is meant by EOQ?

Lakshmikanth Dandu

 Profile Answers by Lakshmikanth Dandu Questions by Lakshmikanth Dandu

• Jan 27th, 2011

Economic order quantity refers to the quantity to purchased every time so as to minimize total of two types of costs associated with purchase. The size of the order for which the total of ordering costs per annum and carrying cost per annum are minimum is know as the eoq.

kl_krupa

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• Oct 3rd, 2010

Economic order quantity is the level of inventory that optimises the total inventory holding costs and ordering costs.

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What is meant by Three Way Matching Concept. Which is related to Invoice, Purchase order, Voucher, Vendor

gns.ravi

 Profile Answers by gns.ravi Questions by gns.ravi

• Apr 10th, 2012

3 Way matching means : - Matching the invoice with PO and GR at the same time,
2 Way matching means :- Matching the invoice with PO.

the above two are the matching concepts in AP process

Faisal Azim

• Jul 13th, 2011

Three Way Matching Means invoices ,Delivery and purchase all are same no any difference

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Dasari Santhosh

• Jun 20th, 2012

Debit note:when the goods are returned to the supplier, a debit note is sent to him indicating that his a/c has been debited with the amount mentioned in the debit note. Credit note: the customer whe...

jk latha

• Nov 30th, 2011

Debit note is an note which is issued from the customer/ party for short/rejetcted matl amt.

Credit note is an note which is also issued by the customer /party for excess matl reced amt.

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siva

• Jul 30th, 2012

Turn over is capitalization of company or business concern for particular period or total sales operations figure in company

Susanta Ku. Mohapatra

• Oct 17th, 2011

Total Sale of year or a period is called turn over.

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If some one tell me in the interview how to make purchase entry ? pl tell me the answer.

khan

• May 3rd, 2013

Purchase A/c dr
to creditor A/c

Susanta Ku. Mohapatra

• Oct 17th, 2011

1. Go to Get way of Tally
2. Press V (Short Cut Key)
3. Press F9 (Short Cut Key)
4. Type - Purchase A/c. Dr
Cash/Bank A/c. Cr. (if Cr. purchase then type name of the comp.)

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why while calculating deprecation we do not consider the change in prices of the machinery in the market i.e fluctuation in prices in market? As we consider the accounting period one of the concepts

Hamayun

• Mar 31st, 2016

According to the international accounting standards we take the value of an asset whichever is less either market value or actual value.

jayaprakash mc

• Aug 12th, 2015

We have to account for all anticipated losses but not profits. If the usefulness of the asset has gone down due to technical or behavioral changes, we are at liberty to provide additional deprecation. How ever we should not consider appreciation in market value.

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FAISHAL kHALIL

• Jun 7th, 2017

An accounting method whereby the costs associated with producing a good or service are recorded only after the good or service is actually produced, completed or sold

Jenny Vakharia

• Sep 19th, 2016

Back flush costing is a costing system tailored to just in time production systems. It contrasts with traditional costing systems that use sequenticial tracking to record purchases and movements of co...

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Editorial / Best Answer

Answered by: T.Prasad

• Aug 10th, 2006

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Marginal Cost is the cost with is incurred to produce one more extra unit.

Example to produce 100 units cost is Rs. 500/-

to produce the 101th unit the cost became Rs. 520/- (The cost to produce one more unit i.e, unit is Rs. 20/-)  The Rs. 20/- is called Marginal Cost.

ngodza22

 Profile Answers by ngodza22 Questions by ngodza22

• Jun 29th, 2008

It is a costing rule technique that excludes fixed cost from influencing decisions because they are said to be irrelevent cost.... simply because they are bound to be incurred even if a firm produce or doesn't produce eg rent,

andy

• Dec 26th, 2006

Marginal Cost is variable cost AS LONG AS your fixed assets can handle the output. If that additional unit forces you to acquire more assets to handle it, your marginal cost can be way out of line with your average variable cost.

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What is meant by Debtors Reconciliation. Explain in detail about it

Subhajit Dutta

• Sep 5th, 2015

Please help to get Debtor Ledger reconciliation details with a example (ledger copies)

JANINE BARR

• Oct 31st, 2011

A debtors reconciliation is to ensure that the balance brought forward and the closing balance tally. Reconcili payment and invoices

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ch.v.rama krishna rao, chirala

• Nov 8th, 2007

Break Even Point is a point where there is no profit and no loss . It is very important for every company to take managerial decisions like how much quantity to be sold to gain desired profit, how many units to be sold to get the desired profit, to find margin of safety etc.,

vaishnavi

• Aug 24th, 2007

Break Even Point is the point where there is no Loss No Profit. The total revenues will be equal to total costs.

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TDS deducted by the Customer and deposited in central govt.account through receipt is an income or expenditure or what?

kathirvel

• Feb 16th, 2018

TDS will be deducted by buyer from service provider ( Not a seller ). TDS is liability from buyer point of view so this TDS will be deducted from service provider and paid to govt.

Praveen M

• Dec 2nd, 2015

Take a Example Interest income Rs. 10000, Received Rs. 9000 and TDs deducted Rs. 1000 Make following adjustments
1. Less. Rs. 10000 from P/L balance (being non-operative income credited to P/L)
2. Add: Rs. 9000 to Cash from investing activity (bring cash flow from interest)

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i want to know right enrtry of this question

DEBTORS 10000/-
DISCOUNT ALLOWED 1000/-
RECEIVED BAL 4000/-
REST OF AMOUNT BAD DEBTS

Shahnawaz

• Jul 24th, 2017

DR - Discount allowed 1000 + Cash/Bank 4000 + Bad Debt Expense 5000
CR - Accounts Receivables 10000

Amaed Ahmed

• Dec 3rd, 2016

(1) in Payment Voucher
Cash / Bank A/c ............ Dr Rs. 4000/-
Discount Allowed A/c ..... Dr Rs 1000/-
To, Debtor A/c ..............Cr Rs 5000/-

(2) In Journal Voucher
Bad Debts A/c DR .......... Rs 5000/-
To, Debtor A/c Cr ........... Rs 5000/-

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