Define Traceability
Traceability: The capability to assign a cost directly to a particular activity or cost object by identifying or observing particular resources used by the activity or cost object.
Common Data Source: All of the programmatic and financial information available for the cost, budgetary, and financial accounting processes. This comprises all financial and much non-financial data, like environmental data, which are
1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered
What do you mean by the term Understandability which is accounting information?
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 Not-for-profit organizations?
Full-Absorption Costing: It is a technique of costing that assigns (or absorbs) all labor, material, and service or manufacturing facilities and support costs to products or another cost objects. The costs assigned comprise those which do and do not d
Business combination in which the acquiring corporation buys all the assets of the target, recording them at fair market values. The target is absorbed into the acquiring corpora- tion, and has gains on the sales of the assets that appear on its last tax return. In ad
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
What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.
Write down a short note on the Performance evaluation and control in decision making process?
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