Welcome to ACCAW
Your professional platform for accounting, economics, finance, and taxation
Main Sections
Accounts Guide
Accounts Guide , Chart of Accounting with definition, common journal entries related standards
Accounting Q&A
Questions and answers in accounting
Economics
Macro and micro economics
Finance
Finance and investment
Taxation
Tax laws and regulations
Auditing
Internal and external auditing
Dictionary
Financial Dictionary
Latest Pages
How are cost information used in management decision-making (accept/reject a special order, make-or-buy)?
Cost information supports decisions like special orders (consider incremental costs/revenues) and make-or-buy (compare relevant costs). Focus on relevant costs that differ between alternatives.
Jan 7, 2026
What is Cost-Volume-Profit (CVP) analysis?
CVP analysis examines relationships between costs, volume, and profit. Key components: contribution margin, break-even point, target profit analysis, margin of safety, operating leverage.
Jan 7, 2026
What is Activity-Based Costing (ABC)?
ABC is a costing method that allocates overhead based on activities that drive costs, using cost drivers. Provides more accurate product costing than traditional methods.
Jan 7, 2026
What is variance analysis between actual and standard costs (material, labor variances)?
Variance analysis compares actual to standard costs. Material variances: Price and Quantity. Labor variances: Rate and Efficiency. Used for cost control and performance evaluation.
Jan 7, 2026
What are planning budgets? What are their types (operational, capital)?
Planning budgets are quantitative financial plans. Types: 1) Operating budgets (short-term revenue/expense plans), 2) Capital budgets (long-term investment plans).
Jan 7, 2026
What are the methods for allocating indirect costs to cost centers?
Common allocation methods: Direct Labor Hours, Direct Labor Cost, Machine Hours, Units of Production, Square Footage. Activity-Based Costing provides more refined allocation.
Jan 7, 2026