Define Activity
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.
explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating
What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo
What are the various Calls in Arrears? Describe it.
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Write a brief note on the things which Strengths comprises?
Traceability: The capability to assign a cost directly to a particular activity or cost object by identifying or observing particular resources used by the activity or cost object.
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
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