Define Actual Cost
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Briefly define how useful is the management accounting information is?
Capital Budgets: The procedure of finding out which potential long-term projects are value undertaking, by comparing their estimated discounted cash flows with their internal rates of return. Capital Budget is the
Explain Management accounting as an information system in brief?
Explain the term bank reconciliation statement?
Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of
What do you mean by the term relevance which is accounting information?
Write a short note on Not-for-profit organizations?
A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
18,76,764
1938510 Asked
3,689
Active Tutors
1437610
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!