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
Category: Business Management
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)
Definition of Material Management Materials management is a process of planning and controlling materials to ensure they are readily available when required. Effective material management
What is Demand Forecasting? Types, Methods, and Examples
What is Demand Forecasting? Demand forecasting is a process of predicting customer demand so that businesses are prepared to timely fulfill orders when the actual
What is Discrete Manufacturing? Definition, Benefits and Examples
The Manufacturing Industry is huge and involves complex tasks. It is not always large machinery and equipment, goods are also manufactured manually in hand by
Bills vs Invoice – What is the difference ?
We often interchange the words invoice and a bill. They are closely related as they are synonymous with each other but sometimes they cannot be
Absorption Costing: Pros and Cons
Analysing and calculating the amount a company spends for the business is a major part of accountancy. Absorption cost accounting is an accounting method to
What is the Accounting Cycle? Definition and Steps
What is the Accounting Cycle? The accounting cycle is a systematic process of tracking, analyzing and recording all financial transactions of the company, ensuring accurate
What is Master Production Schedule?| Definition, Functions, Example
What is Master Production Schedule? A master production schedule is a comprehensive planning and scheduling process that clearly defines which products need to be manufactured,
What is the FIFO method in Inventory? Definition and how to use it?
What is FIFO method? The FIFO inventory valuation method can be expanded as first in, first out. It is a technique to assign value to