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
Write a short note on the changing responsibilities of the management accountant?
The process of testing a new software program using actual data and comparing the results to the alternative soft wares. The alternative can be new software or the organization's existing system. The test should be examined the software's accuracy and efficiency.
The rights of each partner: Under the Partnership Act, partners have the right to: Share equally in profits and losses; Indemnity; Interest on advances; Interest on capital; Share in management of
Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape
Describe the provision of 'Indian partnership Act 1932‘concerning sharing of profits in lack of any provision in partnership deed. Answer: In the lack of any p
Cost Assignment: A procedure which identifies costs with activities, outputs, or another cost objects. In a wide sense, costs can be assigned to activities, processes, products, organizational divisions, and services. There are three
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