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Values – a Continuous Process: Finding the Genesis

Sociologists attempt the definition of values in terms of cultural or societal norms, mores, and folkways. Philosophers explain values in terms natural discovery, the natural human instinct to know, carried forward from ancient Greece and writings of Plato, Aristotle, and […]

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Role of Budgeting in Planning, Control, and Resource Allocation Process in UAE Companies

Budget Before understanding the key concepts of budgeting, it is important to understand the meaning of budget. A budget is used to make a documentation of the translation of plans into money. So, the amount of money that needs to […]

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Process Balancing

“Process Balancing” is a procedure whereby a set of process steps are “equalized” in terms of time required to accomplish them (note “effort” may not be the same!). Process balancing tools are used where the process is contained in a […]

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The Issue of Job Order Vs Process Costing in Managerial Accounting of a Small Business

A primary role for cost accounting is to know the cost of products or services in a small business. Like the other methods utilized: average and specific identification or first-in, first-out; last-in, there are different ways needed to value the […]

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