This is a letter to my readers. In this annual summary, I will be writing about what happened in 2021, and what will happen in 2022.
Posts published in “Year: 2021”
The year 2021 was a defining turning point for the global economy. As the immediate shock of the COVID-19 pandemic began to settle, businesses transitioned from temporary survival tactics into long-term, structural changes.
Revenue streams refer to different types of sources of revenue that a firm has. Revenue is all the money coming into the business.
Classifying costs is an important job for business managers, especially Production and Marketing managers who make product-related decisions.
So, should the business accept a special unprofitable order below total cost? At the first sight, it might appear to be unwise.
The question is whether the business should stop making a product when it is unprofitable, or continue making the unprofitable product?
Dividing business operations of the whole organization into Cost Centers and Profit Centers is important to any large business.
Once we know about the most important equation in business, the other two crucial concepts need to be understood – Cost Centers and Profit Centers.
Contribution-Costing Technique is a method of costing in which only Direct Costs are allocated to products, not Indirect Costs (Overheads).
Full-Costing Technique is a method of costing in which all Direct Costs and Indirect Costs (Overheads) are allocated to products of the business.
A business can use costs data for making a variety of different business decisions. Here is the list of major uses of costs data.
This article is about different types of costs in a business. Let's consider costs when producing one type of product and many types of products.
This article is about how the costs are classified in a business organization. In general, business costs can be classified in several different ways.
The most important business equation is the formula for profit. It is because a business must satisfy needs and wants of customers profitably to be successful.
Very brief definitions of costs, price and value. Knowledgeable business managers should be familiar with differences between costs, price and value.
Finance managers need to consider many factors when it comes to making the strategic finance choice between alternative sources of finance.
Subsidies are sums of money given by the government to producers of commodities which are widely used by the majority of the society.