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.
Meaning of Reconstitution: Any alter in agreement of partnership is termed as reconstitution of partnership firm. In following circumstances a partnership firm might be reconstituted: A) Alter in Profit Sharing Rat
Performance Measurement: A means of computing effectiveness, efficiency, and outcomes. A balanced performance measurement score-card comprises financial and non-financial measures focusing on the quality, cycle-time, and price. The performance measure
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 various methods to assign support cost?
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.
A company's annual report is the single most important way for it to convey itself to potential investors. As such, it should be no surprise tha
Expenditure that increases the dollar amount of fixed assets on the balance sheet. These outlays either increase the value of assets already owned or add additional assets. The payments increase the future benefit of an asset by extending the life of the asset, increa
Write down a short note on the major tasks of board that runs the organization?
Write down a short note on the influence of manager’s behavior in management accounting information?
Write down a brief note on the illustrations of unethical and unacceptable actions?
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