--%>

Comparability-Accounting information

What do you mean by the term Comparability which is accounting information?

E

Expert

Verified

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.

   Related Questions in Managerial Accounting

  • Q : What is Incremental Cost Incremental

    Incremental Cost: The raise or reduction in total costs which would result from a decision to raise or reduce output level, to add a service or task, or to modify any part of operations. This information aids in making decisions such

  • Q : Main working areas of the Marketing

    Write a short note on the main working areas of the Marketing department?

  • Q : Benefit of economic in accounting

    Write down a short note on the benefit of economic in accounting management information?

  • Q : Reasons for favoring partnership deed

    Give reasons in favor of having a partnership deed. Answer: A) In situation of any dispute or doubt, Partnership deed is the gui

  • Q : Capital gain The increase in value that

    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

  • Q : Main users of the accounting information

    Briefly list out the main users of the accounting information which are related to the business?

  • Q : Bonds payable A form of long-term debt

    A form of long-term debt that appears  in the liabilities section of the balance sheet. A company sells bond as a way to borrow large amount of cash. The buyer pays for the bond and receives regular interest payment, annually or semiannually, for the duration of

  • Q : Describe Trust Accounting Trust

    Trust Accounting: It is the "accounting of each and every item of income and expenditures which are employed to find out the amount that certain beneficiaries will obtain from the trust each year." Actually, it is equivalent to all the revenues receiv

  • Q : VAT entry How to make a VAT entry in

    How to make a VAT entry in books including set off?

  • Q : Explain Dissolution 1) Dissolution ENDS

    1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered