Costing Methods and Techniques
Manufacturers have the challenging task of setting the pricing of the product. With increasing competition in the market, the manufacturers cannot set the pricing to
Category: Business Management
Capital Budgeting : Meaning, Methods and Importance
Running a business is complex and it takes a lot of planning and decision-making to keep it survive in the competitive landscape. Most importantly, the
Capital Account: What It Is and How It Works
Every proprietor knows the complexity of running a business. If you are a sole proprietor, a partner in a firm or a shareholder of the
What are Adjusting Entries? Definition, Types, and Examples
Businesses are divided into accounting periods. And in each financial period, the financial statements have to be accurately created. Further, it is crucial to create
What is Capacity Requirements Planning? Types, Benefits and Strategies
A manufacturing process requires a lot of planning before it commences. The planning is required to see what’s coming, significantly if it impacts the business’s
What is BOM Explosion?
We all know what a bill of materials is for businesses. It is a significant step in the manufacturing process. It is also known as
Types of GST in India :SGST, CGST, IGST & UTGST
In the year 2017, the Indian government made an announcement regarding the indirect tax regime GST (Goods and services tax). GST replaced other taxes such
Fixed Costs : What It Is and How It’s Used in Business
In businesses, fixed costs are essential components that remain constant regardless of production or sales volume. The costs of certain factors won’t fluctuate such as
What is Material Management? (Definition, Types, and Objectives)
Materials have to be used responsibly in any sector. It is the core function of the supply chain system where it has to be planned
What is Demand Forecasting? Types, Methods, and Examples
A business must have accurate and effective demand forecasting to gain a competitive edge in the market landscape. It would be a game changer for