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.
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 a short note on Not-for-profit organizations?
How have you observed the regulations which affect both your industry and your accounting place?
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What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.
Profit or Loss (P&L) Analysis: A financial statement which summarizes the revenues, costs and expenses acquired during a particular period of time - in general a fiscal quarter or year. Such records give information which exhibits the capability o
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
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
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.
What do you mean by the term relevance which is accounting information?
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