Treatment of Certain Branch Transactions
Treatment of Certain Branch Transactions Branch expenses paid by the branch out of petty cash: Such expenses will be deducted from the branch cash and...
Treatment of Certain Branch Transactions Branch expenses paid by the branch out of petty cash: Such expenses will be deducted from the branch cash and...
When the goods are sent by the head office to the branch at invoice price i.e., cost plus some percentage of profit, the branch manager...
A Bin card, also known as Bin Tag or Stock card, is a card showing quantitative record of the receipts, issues and closing balances of...
Material Control and its Requirements “ ‘Material Control’ may be defined as the regulation of the procedures for requisitioning, buying, receiving, storing, handling and usage...
Maintenance of Stock Levels The next important point after determination of EOQ is to decide as to when the order for purchase should be placed....
Order Point It is also known; ‘Ordering Level’; or ‘ Recorder Point’, or ‘Reordering Level or ‘Ordering Limit’, it has been stated earlier that Order...
Economic Order Quantity This represents the normal quantity to be placed on order when the stock has reached its re-order level. Re-ordering quantity is to...
The important factors of purchase cycle to be decided are: a) What to purchase; b) When to purchase; and c) How much to purchase....
The Purchase cycle constitutes the following: Initiating the purchase; Receiving of the Purchase Requisitions; Deciding important factors relating to purchase; Selecting the suppliers; Placing purchase-orders...
The following factors contribute to purchase control: i) Determination of Quantity to be purchased Quantities purchased in excessive number or weight block the working...