Control Accounts | Learn Accounting: Notes, Procedures, Problems and Solutions

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Control Accounts: Meaning, Advantages and Formats

In this article we will discuss about Control Accounts:- 1. Meaning of Control Accounts 2. Advantages of Control Accounts 3. Formats. Meaning of Control Accounts: Control Accounts are the total accounts in the cost ledger which summarizes the totals of individual accounts (subsidiary ledger). In these accounts, entries are made once at the end of each accounting period based on [...]

By Richa Jain|2016-06-10T10:14:14+00:00June 10, 2016|Cost Book Keep|Comments Off

Reconciliation of Cost and Financial Accounts

In this article we will discuss about:- 1. Meaning of Reconciliation 2. Need for Reconciliation 3. Procedure 4. Proforma of Memorandum Reconciliation Account 5. Practical Problems. Contents: Meaning of Reconciliation Need for Reconciliation Reconciliation Procedure Proforma of Memorandum Reconciliation Account Practical Problems on Reconciliation of Cost and Final Accounts 1. Meaning of Reconciliation: Where cost accounts and financial accounts are [...]

By Richa Jain|2016-06-10T10:14:14+00:00June 10, 2016|Cost Accounting|Comments Off