Characteristics which accounting information posess
What are the key qualities or characteristics which accounting information should possess?
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The accounting information must possess certain key qualities or characteristics which are as follows:
a) Relevance.b) Reliability.c) Comparability.d) Understandability.
What are the possible broad regions of decision making process where management accounting information is required?
Describe Provisional Entries?
Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.
Write down a short note on the developing objectives and plans in decision making process?
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.
Write a brief note on the things which Threats to business comprises?
Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
Write down the different techniques employed to liberate the function of management accounting?
Unfocused Books is a discount retail bookshop that has three departments: fiction, non-fiction and children’s books. Sales and cost of sales for each department are shown below. In addition, each department has its own fixed costs for staffing and takes a one-third share of rental and management cos
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