Charles Izuoba

Charles Izuoba is an Entrepreneur and a graduate in Business Administration and Management. He is the Founder of HS Tutorial, A Digital Marketer and Content Creator.

cost-accounting definition

Cost Accounting Definition – Introduction to Cost Accounting

Cost Accounting can be defined as a system put in place by the management to generate the amount incurred in the production of goods and services so as to determine the cost of production and profit generated in the organization. NB: Profit in an organization is determined by the relationship between revenue and cost. If …

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EOQ

EOQ – Definition & Assumptions of Economic Order Quantity

What is Economics Order Quantity (EOQ)? This is the re-order quantity where the total relevant cost of inventory is minimized. EOQ is also known as optimal re-order quantity. It also the ordering quantity at which the control cost ordering is minimized. See also, Inventory Control Summary. Subscribe to our YouTube channel so as not to …

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Reflection

Reflection and Refraction of Light – Physics

REFLECTION OF LIGHT Light is a form of energy that causes the sensation of vision. There are natural and artificial sources of light. Natural Sources: Sun, stars etc… Artificial Sources: Bulbs, fluorescent tubes, candles, lamps, torches, arc light etc… LUMINOUS OBJECTS: These are objects that generate and emit light by themselves. Examples are the sun, stars, …

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entrepreneur

Entrepreneur – Practice of Entrepreneurship (Summary)

Who is an Entrepreneur? An entrepreneur is a person who makes money by starting or running a business(es), especially when this involves taking a financial risk(s). An entrepreneur should have the ability to come up with a creative solution(s) to needs or problems and market them. Entrepreneurship is the response of a person or organization, …

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Indifference Curve

Indifference Curve – Definition, Schedule & Properties

The Indifference Curve Analysis approach was first introduced by Slutsky, a Russian Economist in 1915. Later it was developed by J.R. Hicks and R.G.D. Allen in the year 1928. What is Indifference Curve? Koutsoyiannis (1985) defines the indifference curve as the locus of points particular combinations or bundles of goods which yield the same utility …

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Bookkeeping

Bookkeeping, Accounting and the Double-Entry Principle

Principles of Bookkeeping And Accounting. Thousands of years ago, there were no standard permanent records of business transactions, but with the advancement of education and civilization, accounting data are recorded in books, hence, the term bookkeeping. The goal of the summary is to give you an insight into Bookkeeping, Accounting, and Double-entry Principles. Also, to …

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Accounting Branches

Branches of Accounting – 8 Types of Accounting

Accounting can be classified in various ways. This includes Accounting as an information system, Accounting as a Profession, Public Accounting, Private Accounting, Government Accounting, Financial Accounting, Cost Accounting, and Management Accounting. Branches of Accounting Financial Accounting is prepared to ascertain the strengths and weaknesses of an organization in terms of Profit and Loss of the …

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