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)
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
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
In the business world, keeping the financial record accurate is crucial as it will impact decision-making and regulatory compliance. One way to maintain financial integrity
What is Master Production Schedule?| Definition, Functions, Example
What is Master Production Schedule? Master Production Schedule is a comprehensive production planning and scheduling process that provides a granular view of the production process,
What is the FIFO method in Inventory? Definition and how to use it?
Inventory consists of items, goods, merchandise, and raw materials, all of which will help the business to earn profit. Inventory management software is vital for