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In: Articles, Cost Accounting, Financial Accounting, Financial Management, Management Accounting, Managerial Economics, Micro-Economics
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What is Cost? It refers to the monetary expenditure which a firm has to incur in order to purchase or hire the factors of production. It is the expense of purchasing or hiring factor services for production and other business activities. Classification of Cost / Types of Cost There areRead More →

Zero based budgeting

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In: Articles, Financial Accounting, Management Accounting
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Zero Based Budgeting Zero Based Budgeting was originally developed by Peter A Pyhrr at Texas instruments.  He defined Zero Based Budgeting as “an operating, planning and budgeting process which require each manager to justify his entire budget request in detail from scratch and shifts the burden of proof to each managerRead More →