Define Opportunity Cost
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.
What does the difference between management accounting and financial accounting suggest?
Controllable Cost: A cost which can be influenced by the action of responsible manager. The word always refers to a particular manager as all costs are controllable by somebody.
Cash Management: Cash Management is the management of cash balances of a concern in such a way as to maximize the accessibility of cash not invested in inventories or fixed assets and to ignore the risk of insolvency. According to Keynes there are thr
Corporate Tax: It is a levy placed on the gain of a firm, with different rates employed for various levels of gains. Corporate taxes are the taxes against profits earned by businesses throughout a given taxable period; they are usually applied to comp
Investor Relations: A department, exist in most medium to big public companies, which gives investors with a precise account of the company's affairs. This aids investors to make informed sell or buy decisions. Inv
Full-Absorption Costing: It is a technique of costing that assigns (or absorbs) all labor, material, and service or manufacturing facilities and support costs to products or another cost objects. The costs assigned comprise those which do and do not d
Cost Finding: Cost finding methods generate cost data by analytical or sampling techniques. Cost finding methods are suitable for certain type of costs, like indirect costs, items with costs underneath set thresholds in the programs,
According to Martin and Steele (2010, p.13), “The two principal professional associations in Australia – CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significance of issues of sustainability reporting and develo
What are the key qualities or characteristics which accounting information should possess?
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