--%>

Explain Value-Added Activity

Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing the quantity, responsiveness, or quality of output needed by a customer or organization. The value-added activities must physically change the product or service in a mode that meets the customer expectations.

   Related Questions in Managerial Accounting

  • Q : Things which Weaknesses comprises Write

    Write a brief note on the things which Weaknesses comprises?

  • Q : Define the term Strategic management

    Briefly define the term Strategic management and also state the reason why it is designed?

  • Q : Cash budget A plan for the cash coming

    A plan for the cash coming into and going out of a business. Based on the sale forecast,  the timing and amounts of  cash receipts. Based on forecast of resources necessary to  meet the sale forecast, management budgets the cash disbursements. This proc

  • Q : Comparability-Accounting information

    What do you mean by the term Comparability which is accounting information?

  • Q : Write a short note on Not-for-profit

    Write a short note on Not-for-profit organizations?

  • Q : Explain Process Value Analysis Process

    Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo

  • Q : Define Partnership deed Partnership

    Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.

  • Q : Contents of a partnership deed State

    State some contents of a partnership deed. Answer: A) Name of the firm.B) Name and complete address of the Partners.C) The date of formation and period of Partnership.D) Ratio in which gain or loss

  • Q : Functions explain how the provision of

    explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating

  • Q : Explain Responsibility Segment

    Responsibility Segment: A noteworthy organizational, functional, operational, or process component that has the characteristics as: (i) Its manager reports to the entity's top management;