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.
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
What do you mean by the term position analysis in a business? Briefly illustrate it.
Write a brief note on the things which Strengths comprises?
Briefly list out the main users of the accounting information which are related to the business?
What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P
The increase in value that the owner of a capital asset receives when the asset is sold. The owner pays tax on that gain or increases, at a lower rate if the assets that are sold are capital asset, such as factory buildings, rather than assets that are sold in the nor
What is the various information that a manager need to make a decision?
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.
Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou
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