What is the LIFO conformity rule?

Q: Can you explain COD with an example ?

A: The acronym “COD” in terms of business refers to either Commercial Operation date or cash on…

Q: Define LIFO conformity rule.

A: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of…

Q: What is the difference between ER and REA model

A: ER model stands for Entity Relationship model which is a high-level data model. This model defines…

Q: Why are CMOs overcollateralized?

A: CMO is the abbreviation used for collateralized mortgage obligation. It uses collaterals which are…

Q: In general terms, how does IFRS for SMEs differ from full IFRS?

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: What are the similarities between MRP and DRP?

A: Material Requirement Planning and Distribution Requirement Planning are the essential components…

Q: Describe about the LIFO and FIFO method.

A:

Q: Explain all differences between GAAP and IFRS

A: Generally accepted accounting principle (GAAP) It is the common set of procedures, principles, and…

Q: What assumptions underlie the EOQ model?

A: The model that helps in calculating the optimal amount of quantity needs to be purchase for…

Q: What are the steps to achieve conformance to specification?

A: Conformation to specification:   This refers to the regulatory requirements of an organization. The…

Q: What is an ERP system?

A: Enterprise Resource Planning (ERP) System: Enterprise Resource Planning System refers to a…

Q: What is a NIC?

A: NIC:  NIC stands for network interface card. NIC is an electronic device that provides circuit to…

Q: What standards govern SSARS engagements?

A: American Institute of Certified Public Accountants (AICPA):   It is an association of certified…

Q: Define the term PW criterion?

A: Present worth is a systematic identicalness technique where cash flows of a task are limited at…

Q: How much of FTB?

A: Answer:

Q: What are GAAP principles

A: The management of the company is the main responsible for preparing the financial statements which…

Q: Explain the relationship between MRP II and ERP.

A: Material Resource Planning II: An automated system which controls planning of inventory or raw…

Q: What is MM Proposition I?

A: Modigliani and Miller’s approach is an element of economic theory and it forms the basis for modern…

Q: What is a constraint?

A: Internal Control:   It refers to a set of rules, policies adopted by a business to ensure accuracy…

Q: Explain the purpose of IFRS for SMEs and how it differs from full IFRS.

A: IFRS or International Financial Reporting Standards are the guidelines of accounting given by the…

Q: What are the key assumptions of the CAPM?

A: Introduction: The CAPM is an equilibrium model that stipulates the relationship between necessary…

Q: Describe the basic assumptions of underlie GAAP.

A: Generally Accepted Accounting Principles (GAAP): It refers to accounting principles, standards and…

Q: What is the decision rule for NPV?

A: Capital budgeting: Capital budgeting is a process by which the management can plan and evaluate the…

Q: Explain the differences between IFRS and GAAP

A: GAAP is a common set of accepted accounting principles, standards, and procedures that companies and…

Q: What is GAAP and why it is needed?

A: GAAP - Generally Accepted Accounting Principles

Q: What is GAAP?

A: Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to create…

Q: What is GAAP and how does it work

A: The accounting is based on various principles that are defined by GAAP or IFRS.

Q: Can you explain DCF model?

A: Introduction Discounted cash flows: DCF is abbreviated as discounted cash flows. The concept of…

Q: What are the CVP assumptions?

A:

Q: What is the DCF method?

A: DCF is a complex tool for valuation which approximates the value of any investment depending upon…

Q: How do CDOs differ from CMBSs?

A: Difference between CDO and CMBS is that CMBS is a subset of CDO. In CMBS the underlying assets are…

Q: What is a cfar?

A: Cash Flow at Risk (CFAR):Cash Flow at Risk is a term which focuses on the risk of receivables and…

Q: Define FIFO method

A: FIFO stands for , First in first out method , is an asset management and valuation method in which…

Q: What is the primary difference between the APT and the CAPM?

A: APT is an abbreviation used for arbitrage Pricing Theory whereas CAPM is an acronyms used for…

Q: What is MM Proposition II?

A: MM Model determines and defines a relationship between the capital structure of the firms, the cost…

Q: What is canonical cover in DBMS?

A: DBMS programming essentially works as an interface between the end-client and the data set, all the…

Q: What is an XBRL taxonomy?

A:

Q: What is an XBRL tag?

A: The internal database of the organization is mapped by the computer programs to issue tag to each…

Q: What is the AP/CD process?

A: Accounts payable indicate the obligation of the organization resulted from past transactions or…

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.