Accounting How To: How to Pass Accounting Class!

An annual or fiscal budget is a financial plan that outlines the projected income and expenses for a specific period, typically one year. It is a crucial tool for businesses and organizations to...

Target profit is a financial metric that helps businesses determine how much revenue they need to generate in order to achieve a specific level of profit. It's a key component of a company's overall...

Process costing is an accounting method used in manufacturing industries to determine the cost of products or services. It is a costing method used when the production process involves multiple...

Manufacturing overhead, also known as factory overhead, refers to the indirect costs incurred in the production process of a product. These costs cannot be directly traced to a particular product,...

Activity-based costing (ABC) is a costing method that allocates overhead costs based on the activities that generate the cost rather than simply allocating them to products or services. It provides a...

A single plantwide factory overhead rate is used to allocate overhead costs to products. It is an integral part of the process of cost accounting, which helps companies determine the cost of their...