RESPONSIBILITY   ACCOUNTING Responsibility accounting is a management control system based on the principles of delegating and locating responsibility. The authority is delegated on responsibility centre and accounting for the responsibility centre. Responsibility accounting is a system under which managers are given decisions making authority and responsibility for each activity occurring within a specific area of … Read more

Meaning & Objectives of Auditing

AUDITING Auditing is the on-site verification activity, such as inspection or examination, of a process or quality system, to ensure compliance to requirements. An audit can apply to an entire organization or might be specific to a function, process, or production step. Meaning of Auditing: Auditing is an examination of the books of accounts and … Read more

Social, Performance and Efficiency Audit

SOCIAL AUDIT “Social auditing is defined as a systematic attempt to identify, analyse, measure (if possible), evaluate, and monitor the effect of an organisation’s operations on society (that is, specific social groups) and on the public well-being.” Social audit as a term was used as far back as the 1950s. In a nutshell, it refers … Read more

Basics of different types of Budgeting, Budgetary control

Basics of different types of Budgeting, Budgetary control Table of Content:- Budgeting- Different types of Budgeting Budgetary Control Responsibility Accounting Social Accounting Different types of Deficits- Budgetary Fiscal Revenue Deficit   Budgeting Budgeting is the process of estimating the availability of resources and then allocating them to various activities of an organization according to a … Read more

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