HIGH/ LOW POINT METHOD Splitting of semi-variable costs Included in semi-variable costs is an element of both fixed and variable costs. In cost accounting it is important to be able to split these costs and identify the variable costs separately from the fixed costs and this is achieved by using the ‘high/low’ method. The idea … Read More

What is the definition of an Accountant? Someone who solves a problem you didn’t know you had in a way don’t understand Accruals, prepayments, adjustments to accounts are all legit I’m sure you know that!!! I’m hope you know what accruals and prepayments are! They are just one of those things Accountants use to confuse … Read More

TRIAL BALANCE   The Trial Balance is used to check the arithmetical accuracy of the accounting entries in the ledgers after the last transaction of a trading period has been entered and before the preparation of the Final Accounts. The Trial Balance shows the closing balances of each general ledger account on a periodic bases, … Read More

  We pay tribute to His Royal Highness Prince Philip, Duke of Edinburgh (born on the 10th of June 1921) and died today, on the 9th of April 2021, at the age of 99. Born in to the Greek and Danish royal family, he was exiled from Greece when he was 18 months old. After … Read More

Increase your productivity An important key to long term success is your dedication to continuous improvement. This will lead to your increased productivity and a conscious awareness of the need to set clear, specific goals for each area of your life. Take responsibility for each action and step you take and take the needed steps … Read More

Our hearts and our condolences go out to our students and everybody out there that has lost a loved one. We’ve all been through this pandemic but thankfully, we’ve kept our heads held high and not let it get us down. We would like our students to join in the with us, and the rest … Read More

  OVERHEAD ABSORPTION RATE JTM Ltd is looking to calculate the unit cost for one of its products. It needs to calculate an overhead absorption rate to apply to each unit. The methods it is considering are: ·        direct labour hours ·        machine hours  The factory activity forecast is as below: Machine hours 15,000 hrs … Read More

  NUMBER PUZZLE   How quick and easy is this puzzle for you? Using the numbers below, complete these six equations (3 reading across and 3 reading downwards). Every number is used only once.     1 2 3     4 5 6     7 8 9       x   – … Read More

  YOUR HAPPINESS IS IMPORTANT What makes you happy and what does happiness mean to you? Some people will believe that making people happy will lead you to being happy! Is that a myth? There has been a lot of challenges and deem issues that so many people would have been dealing with especially as … Read More