Standard predetermined overhead rate is an overhead rate determined by dividing budgeted overhead costs by an expected standard activity index.
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Declining-balance method is a depreciation method that applies a constant rate to the declining book value of the asset and produces a decreasing annual...
- Selling and administrative expense budget
Selling and administrative expense budget is a projection of anticipated selling and administrative expenses for the budget period.
- Cost-volume Profit (CVP) graph
Cost-volume Profit (CVP) graph refers to a graph that shows the relationship between costs, volume, and profits.
- Trade receivables
Notes receivable and accounts receivable that result from sales transactions are often called trade receivables.
- Accounting information system
Accounting information system is a system that collects and process transaction data and communicates financial information to decision makers.
The largest intangible asset that appears on a company’s balance sheet is goodwill. Goodwill represents the value of all favorable attributes that relate to a company.
- Consolidated financial statements
When a company owns more than 50% of the common stock of another company, it usually prepares consolidated financial statements. These statements present...