Why wealth creation is a longer-term concept
Write a short note on why wealth creation is a longer-term concept?
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At mainly relates not just to this year’s gain however to that of future years also. In short term, corners can be cut and risks taken which enhance present gain at the expense of future gain.
The amount of interest that an organization would have avoided if it had not made the expenditures for an asset. Avoidable interest is calculated when an entity is self- constructing an asset. The cost of the asset can include material, labor, and overhead plus some interest. The c
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
A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a
Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr
The term used in governmental accounting to identify amounts that the governmental unit is authorized to spend for debt repayment, operating activities, and asset acquisition. The appropriations account is a budgetary account that acts as a control account for all budgeted expenditures. More usua
Briefly illustrate the general role of accounting?
Activity Analysis: The identification and explanation of activities in an association. The activity analysis comprises determining what activities are completed within a department and how many people execute the activities, how much
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
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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