Comparability-Accounting information
What do you mean by the term Comparability which is accounting information?
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Comparability: This quality will allow managers to recognize changes in the business over time. This will as well help them to compute the performance of the business in relation to other identical businesses. Comparability is accomplished by treating items which are fundamentally the same in similar way for management accounting aims. Comparability tends as well to be improved by making clear the policies which have been adopted in measuring and representing the information.
Performance Measurement: A means of computing effectiveness, efficiency, and outcomes. A balanced performance measurement score-card comprises financial and non-financial measures focusing on the quality, cycle-time, and price. The performance measure
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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.
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