Classification of costs with examples and
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa
What is the various information that a manager need to make a decision?
What do you mean by the term relevance which is accounting information?
Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr
Three main elements of Partnership:
A) Carrying on of a business:
• A ‘business’ is any trade, occupation or pr
Cost Allocation: This is a technique of assigning costs to activities, outputs, or other cost objects. The allocation base employed to assign a cost to objects is not essentially the cause of the cost. For illustration, assigning the
Inter-Entity: A term meaning between or among distinct federal reporting entities. It generally refers to the activities or costs among two or more agencies, bureaus or departments.
What are the various modes that the strategic management process can be approached?
What do you mean by the term reaping the benefits of IT? Explain n brief?
Cost Accounting: The Cost accounting is an approach to evaluate the overall costs which are related with conducting business. It is generally based on standard accounting practices, cost accounting is one of the tools which managers u
Describe Provisional Entries?
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