The 5R’s in Waste Management

The 5 R’s – The key factors that are to be remembered in respect of waste management are – Reduce, Reuse, Recycle, Recover and Replace. 1. Reduce – wherever possible reduce waste production. One can always reduce waste production by following these simple guidelines: a. Use or buy only what is needed – when there […]

Management and Financial Accounting

Accounting is usually seen as having two distinct strands, Management and Financial accounting. Management accounting, which seeks to meet the needs of managers and Financial accounting, which seeks to meet the accounting needs of all of the other users. The differences between the two types of accounting reflect the different user groups that they address. […]

Meanings and Importance of Financial Statement Analysis

All financial statements are essentially historically historical documents. They tell what has happened during a particular period of time. However most users of financial statements are concerned about what will happen in the future. Stockholders are concerned with future earnings and dividends. Creditors are concerned with the company’s future ability to repay its debts. Managers […]