Sunday, April 11, 2021

Allocation and apportionment: Departmental Accounting

Cost Allocation Cost allocation is the process of identifying, aggregating and assigning costs to cost objects. A cost object is any activity or item for...

An introduction to Departmental Accounting

What is Departmental Accounting ? Departmental Accounting is basically keeping the separate book of accounts of the individual department. If a business consists of several independent...

Uniform System of Accounts for Hotels

If Accounting hurts you, chances are you lack at its basic, here as a short booklet to help you revise the basic quickly. Uniform System of...

Distinction between Internal Audit and External/Statutory Audit

At following points, Internal and External/Statutory Audit differs:- 1         What is the purpose of the audit? Internal audit considers whether business practices are helping the...

An introduction to Internal and Statutory Audit

Auditing is a systematic examination of the books and records of a business or other organisation in order to ascertain or verify and to...

Definition and objectives of Internal Control

The control is a continuous process. It is a part of the routine in all types of organisations whether small or big. The word...

Characteristics of Internal Control

Characteristics of Internal Control 1. Experienced, Qualified and Trustworthy Personnel The personnel should be well qualified, experienced and trustworthy and this helps in providing better servicesthan...

Implementation and Review of Internal Control

Implementation and Review of Internal Control The internal control is all the more important in the hospitality industry. In normal business houses; the sale is...

Income Statement

The summary of all accounts dealing with transactions relating the revenue and expenses is termed as profit account. The account is termed as statement...

Implementation and Review of Internal audit

The auditing for hotels differs from the type, size of the hotel. The degree of mechanization had a great impact on the auditing of...