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...

Basis of allocation: Departmental Accounting

Different basis of allocation Sl No.CostBasis of allocation1Interest(i) Total Capital Employed in in the Department(ii) Square feet of the area occupied(iii) Ratio to Sales2Insurance(i) Square...

Practical Problems in Departmental Accounting

Answer:- Head Office Expenses Restaurant ( 20,000/8)*5= 10,000Banquet (20,000/8)*3= 6,000Bar (20,000/8)*2= 4,000 Advertisement & Marketing Expenses Restaurant ( 20,000/8)*5= 10,000Banquet (20,000/8)*3= 6,000Bar (20,000/8)*2= 4,000 Office Expense 15,000/3= 5,000 to...

BSE (Bovine Serum Encephthalopathy)

A brain disorder in adult cattle that may be spread to humans through diseased meat. Bovine spongiform encephalopathy (BSE), commonly known as mad cow disease, is a transmissible...

Genetically Modified Foods

Genetically modified foods or GM foods, also known as genetically engineered foods or bioengineered foods, are foods produced from organisms that have had changes...

Food labelling

Food Labelling serves as a primary link of communication between the manufacturer or packer of food on the one hand and distributor, seller, and...