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Indian Economy

Indian Gdp Writer Name: Shabee Ul Hassan - Article describes the reason behind the major growth of India i.e. Globalization. Globalization and its effects on Indian Economy: Developments and Challenges - Globalization refers to a process whereby regional economies, societies, and civilizations became incorporated via a global network of communication, transport, and trade. The term may be utilized to refer especially to financial globalization: the integration of national markets into the global political economics via trade, foreign direct investment, capital flows, migration, and the spread of technologies. Globalization as a spatial integration in the world of social connections when he explained Globalization can be defined as the intensification of worldwide social connections which link distant places so that local events are shaped by events occurring many miles apart and viceversa.  Globalization means incorporating economics of our country. The changes had a substa...
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Budgeting, Planing & Forecasting

Budgeting, Planing & Forecasting  Steps: The three steps involved in Budgeting, Planing & Forecasting include: Planning outlines the company's financial direction and creates a model of expectations for the next three to five years. Planning is often the first step in setting up a company. Budgeting documents how the overall plan will be executed month to month and typically includes estimates of revenue and expenses and expected cash flow and debt reduction. Companies often set up their budgets at the beginning of a calendar or fiscal year and leave room for adjustment as revenues grow or decline. Budgets are compared with actual financial statements to calculate the variances or errors between the two. Forecasting uses accumulated historical data and market conditions to predict financial outcomes for future months or years. Aimed at helping management teams anticipate results based on past information, forecasts can be adjusted as new information ...
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Inventory Costing Methods

In any company, it is essential to maintain a balanced budget. To do so, managers must know the enterprise’s finances well, as well as define strategies so that their incomes cover the needs of the business. It is no wonder that many use costing methods for this purpose. In general, costing methods are tools used to identify expenses that involve the business’ processes, such as manufacturing and sales. Because there are different types, it is very important that the company assess their key characteristics and see which one fits best in its environment. Before we begin, we need to define what variable and fixed cost is. Variable costs are those that change according to the volume of production, while fixed costs are those that remain stable regardless of what the company produces. That said, let’s learn about the methods. Keep reading! PROCESS AND JOB-ORDER COSTING.   There are two conventional costing approaches used in manufacturing. The first, and more common, ...
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