Job, Batch & Service Costing

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What is Idle time and its accounting treatment?

By Hasaan Fazal on March 28, 2013

Idle time is the simply the time for which labour has been paid for but no work has been done. Whereas inefficiency arises when labour is actually engaged on production but output is not as expected or simply not 100%. Idle time may arise out of normal or abnormal situations and it is the situation […]

Posted in Absorption and Marginal Costing, Absorption and Marginal Costing, ACCA, ACCA - F2, ACCA - F5, CA, CAT, CAT - T2, CAT - T4, CIMA, CIMA C02, Cost and Management Accounting, FIA, FMA, Job, Batch & Service Costing, Labour Costs, MA1, MA2, Module D, Overheads Costs, Relevant Costing & Decision Making | Leave a response

What is the difference between Negative assurance, Positive assurance, Negative opinion and Negative report?

By Hasaan Fazal on April 20, 2011

Difference between Negative assurance and Positive assurance Many students get confuse in these things and mostly it is because books usually use such terminologies which prevail in the business world which are most of the time shortened up and thus sometimes lose their meanings. Lets start with Positive and Negative assurance. Many students think that […]

Posted in ACCA - F8, Audit Reports, Auditing, Budgetary Systems, CA, CAT, CAT - T8, FAU, FIA, Financial Statements of Companies, Introduction to Auditing - Basics, Inventory, Job, Batch & Service Costing, Module D, Partnership, Partnerships, Performance Measurement and Evaluation, Process Costing, Trial Balances and Financial Statements, Variance Analysis | Leave a response