Relevance-accounting information
What do you mean by the term relevance which is accounting information?
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Relevance: Management accounting information should have the capability to affect decisions. Unless this feature is present, there is really no point in generating the information. This signifies that the information must be targeted at the needs of the individual manager for whom it is being offered.
Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal
Expenditure that increases the dollar amount of fixed assets on the balance sheet. These outlays either increase the value of assets already owned or add additional assets. The payments increase the future benefit of an asset by extending the life of the asset, increa
Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.
Briefly define how useful is the management accounting information is?
Write down a short note on the influence of manager’s behavior in management accounting information?
The final payment in a partially amortized loan. The balloon payment repay the entire remaining principal and is usually larger than previous payments on the loan. Loan that is set up with balloon payments allow the borrower to make the purchase and have a lower payme
Activity: The real work task or step executed in generating and delivering products and services. The aggregation of actions executed within an organization which is helpful for the purpose of activity-based costing.
explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating
What do you mean by the term provision of management accounting information?
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