Features of the management accounting information system
What are the various features of the management accounting information system?
Expert
The various features of management accounting information system are as follows:
a) Recognizing and capturing the relevant information.b) Recording the information collected in a methodical method.c) Analyzing and interpreting the collected information collected.d) Reporting the information in a way which suits the requirements of individual managers.
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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
Cost Driver: Any factor which causes a modification in the cost of an action or output. For illustration, the quality of portions received by an activity, or the degree of complexity of tax returns to be evaluated by the IRS.
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Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
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