What is a fee income

Q: Explain what is Flow Cost Accounting, its nature.

A: Material flow cost accounting or flow cost accounting can be defined as a method used by firms and…

Q: Classify the Costs for Financial Statements?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Please explain the meaning of differential income.

A: Concept of differential is generally used when there are two or more alternatives to choose upon.…

Q: What is the standard cost income statement?

A:

Q: When are contingent fees allowed?

A:

Q: variables cost

A: Variable cost is the cost that change according to sale or production volume.

Q: Explain the concepts of revenue, costs, break-even and profit with examples?

A: These concepts are related to variable costing in which we use variable cost to compute our…

Q: Please explain the meaning of a differential revenue or a differential cost.

A:

Q: Define gross pay.

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: Examples of transaction costs

A: Transaction costs are the costs which occur during buying or selling of services and goods. They are…

Q: Explain the term utilities expense and give an example.

A: Utilities Expenses are expenses incurred on public service utilities like electricity, sewage,…

Q: revenues and expenses

A: The income statement shows the net income or net loss that includes the revenues and expenses of the…

Q: What is the difference between direct and indirect costs? Explain.

A: Cost is the expense incurred for producing or manufacturing a product. It includes raw material,…

Q: What is service cost, and what is the basis of its measurement?

A: Service cost: Actuarial present value of benefit attributed by the pension benefit formula to…

Q: What is Cost account payable

A: All variable costs are reduced from sales revenue to get at a contribution margin, from which all…

Q: What is the difference between direct and indirect expenses?

A: Expenses: Expenses are costs incurred for the operations of a business. The costs incurred for…

Q: What is profit contribution

A: The profit is calculated as difference between total revenue earned and total expenses incurred.

Q: What is the difference between pay grade and pay range?

A: Pay grade refers to an approach that helps categorize different types of jobs into various groups…

Q: A term that refers to a situation where the revenue function is equal to the cost function.

A: Revenue function and cost function are two important terms used in cost volume profit analysis. The…

Q: What means of cost

A: Cost denotes the amount of money that a company spends on the creation or production of goods or…

Q: Explain Pass-Through Rates, Yields, and Servicing Fee?

A: Pass-through rateA rate of interest being paid to the investors on the securitized asset after…

Q: What is the purpose of Classifying Costs for Financial Statement?

A: Cost Classifications helps the management in analysing the overall effect on the assets and…

Q: Define the term Cost approaches.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: what is inventoriable costs?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: What is a deferral expense?

A: Word "Deferral" means the postponement of something happening.

Q: What is function of expense method?

A: Organisations can opt for either of the options to prepare and report the income statement. They are…

Q: What is sales revenue? How will you calculate it?

A: Answer 1) The amount received by the business entity by offering and selling the goods &…

Q: Explain how to determine the transaction price.

A: Determination of transaction price is one of the step of revenue recognition process. The…

Q: Define direct costs and indirect costs?

A: Direct cost: Direct cost is the cost assigned to the cost object which is directly related to that…

Q: What is meant by the term responsibility accounting?

A: Introduction: responsibility accounting is the process of the controlling the cost by giving the…

Q: What is cost accounting?

A: What is cost accounting?

Q: Define net pay.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: What is a functional expense statement?

A: The answer is explained as follows:

Q: What does indirect cost includes?

A: Indirect costs: The costs, which do not relate directly with the manufacturing of products, are…

Q: Define Accounts payable and what are its representative cost driver?

A: Accounts payable: Accounts payable is the obligation of the company to make payment (within period…

Q: What is the definition of a cost object?

A: This question explains about the cost object.

Q: What is meant by incremental revenue or incremental cos

A: Incremental Revenue Incremental Revenue means is an additional revenue earned from selling one…

Q: What are the drivers to the cost of revenue

A: The total cost of producing and delivering a product or service to customers is known as the cost of…

Q: What is surcharge?

A: surcharge is an additional or extra charge or tax charged on the cost of goods or service more than…

Q: What is the process of transaction costs?

A: Transaction cost: Transaction cost refers to a cost that is incurred in the process of carrying out…

Q: What is the difference between gross method and the net method?

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: income be affected

A: Operating income is the amount of revenue realized from the operations of the business, after…

Q: Costs incurred to earn revenue are referred to as _____

A: Expenditure is the outflow cash or incurred by the business to support the generation of revenue.…

Q: What is expenditure? explain types of expenditure?

A: Payments or liabilities incurred in exchange for goods or services are referred to as expenditures.…

Q: What is a relevant cost?

A: