Cost accounting

What is Depreciation? Understand Depreciation in Simple Words. (PDF Inside)

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What is depreciation?

Depreciation is an accounting practice that recognizes the gradual wearing down or obsolescence of assets. Instead of considering their purchase price as a one-time expense, it spreads that cost over their estimated useful life. This allows businesses to accurately represent their financial health and profitability, reflecting the declining value of their assets and preventing misrepresentation of their real worth.

Human Resource Accounting: [PDF Inside] Method, 3 Major Aspects, Example, Objectives, Functions, Benefits, And Negatives

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Human resource accounting

Human resource accounting is a type of accounting that focuses on measuring the value of a company’s human resources, such as its employees, in financial terms. The basic idea behind human resource accounting is that a company’s workforce is a valuable asset, just like its physical assets, and should be accounted for in a similar manner.

What is Cost Accounting? [PDF Inside] Types, Objectives, Functions, Benefits, and Negatives, Financial Accounting

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cost accounting

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.