Reliability-Accounting information
What do you mean by the term Reliability which is accounting information?
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Reliability: Management accounting must be free from noteworthy errors or bias. This must be capable of being relied on by managers to symbolize what it is supposed to stand for. Although both relevance and reliability are mush significant, the problem that we seldom face in accounting is that information which is highly relevant might not be much dependable and that that is reliable might not be much relevant.
The duties of each partner: The partners are beneath a fiduciary duty towards one another to: Render true accounts; Account for private gains; and Refrain from competition with the partnership firm.
Outputs: Any product or service formed from the consumption of resources. This can comprise information or paper work produced by the completion of the tasks of an activity.
What do you mean by the term position analysis in a business? Briefly illustrate it.
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.
What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
Write down a brief note on the illustrations of unethical and unacceptable actions?
Controllable Cost: A cost which can be influenced by the action of responsible manager. The word always refers to a particular manager as all costs are controllable by somebody.
ACCOUNTING PROCESS: The process of Accounting involves the following steps: Q : Developing objectives and plans in Write down a short note on the developing objectives and plans in decision making process?
Write down a short note on the developing objectives and plans in decision making process?
explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating
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