Cost accounting is a branch of accounting that deals with the process of recording, analyzing, and reporting the costs associated with producing goods or services. The goal of cost accounting is to help businesses understand the costs involved in their operations, as well as identify ways to reduce those costs and increase profitability.
Responsibility accounting is a management control system that divides an organization into smaller units, each of which is responsible for achieving specific goals and objectives. Under this system, each unit is assigned a set of responsibilities that are clearly defined and measurable, and each unit is held accountable for meeting those responsibilities.
Balance of Payments (BOP) is a record of all the transactions that a country has with the rest of the world over a specific period, typically a year. The BOP includes all economic transactions between the country and the rest of the world, including trade in goods and services, investment flows, and transfers of money and assets.
Operating leverage is a measure of the degree to which a company’s fixed costs are used to generate profits.
Financial leverage refers to the use of borrowed funds or debt to increase the potential return on investment. In other words, it is a strategy that involves using borrowed money to finance an investment, with the aim of increasing the potential profits that can be earned.
Accounts payable management is the process of managing a company’s accounts payable in an efficient and effective manner to ensure that the company’s short-term debts are paid on time and in full while maximizing cash flow and minimizing costs.
Pricing is a process of setting the value that a manufacturer will receive in the exchange of services and goods. If manufacturers set prices too high, they miss out on valuable sales. Set them too low, and they miss out on valuable revenue.
Receivable management refers to the process of managing a company’s accounts receivable in order to ensure that payments are collected on time and the company’s cash flow is optimized.
The cash flow statement is a financial statement that shows the inflow and outflow of cash in a business during a specific period of time. It reports the cash generated or used by a company’s operating, investing, and financing activities.
Cash flow management is the process of monitoring, analyzing, and optimizing the inflow and outflow of cash in a business or personal finance context. It involves managing the cash resources of an entity in a way that ensures the entity can meet its financial obligations in a timely manner, while also maximizing the use of available cash to generate revenue and grow the business.
