Define Traceability
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.
Partnership: Whenever two or more persons enter into an agreement to take on business and share its gain and losses, it is a condition of partnership. It can also define as: "Partnership is the relation among persons and who have granted to share the
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
What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
The U.S. market for rice is illustrated below. The world pric
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.
explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating
What are the various features of the management accounting information system?
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
Write a short note on why wealth creation is a longer-term concept?
Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa
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