Define Cost Accounting Practice
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.
Write down a short note on the benefit of economic in accounting management information?
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Briefly illustrate the general role of accounting?
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.
The term used in governmental accounting to identify amounts that the governmental unit is authorized to spend for debt repayment, operating activities, and asset acquisition. The appropriations account is a budgetary account that acts as a control account for all budgeted expenditures. More usua
What are the main reasons that the operation of business environment has become ever more turbulent and competitive?
From the books of Aggarwal Bors, the following information have been extracted: Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% The firm is proposing to buy a new plant which can generate additional annual profit of Rs. 10,000. The fixed
A partnership is stated as ‘the relationship which subsists among persons carrying on business in common with a view togain or profit’
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
What are various methods to assign support cost?
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