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.
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
Write down the different techniques employed to liberate the function of management accounting?
Why does a tax form a deadweight loss? A tax forms deadweight loss by artificially increasing price above the free market level, therefore reducing the equilibrium quantity. This reduction in demand decreases consumer as well as producer surplu
Write a short note on why wealth creation is a longer-term concept?
Partnership Accounting: A business can be a firm, a partnership, or a solitary proprietorship. The corporation is incorporated at state level. The sole proprietorship is one person in business. A partnership is two or more than two persons with an agr
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
Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of
ACCOUNTING CONCEPTS: Presented below are basic accounting principles or concepts, with which hospital managers should be familiar and that they should understand i
Outcome: The outcomes of a program activity as compared to its intended aims. Program outcomes might be computed in terms of service or product quality and quantity, customer satisfaction, and usefulness.
What are the key qualities or characteristics which accounting information should possess?
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