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.
What do you mean by the term relevance which is accounting information?
Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.
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
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
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Briefly describe the main purpose of the business?
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.
The increase in value that the owner of a capital asset receives when the asset is sold. The owner pays tax on that gain or increases, at a lower rate if the assets that are sold are capital asset, such as factory buildings, rather than assets that are sold in the nor
Product: Any traceable, discrete, or measurable good or service given to a customer. Frequently goods are termed to as tangible products, and services are termed to as intangible products. A good or service is the product result of a procedure resulta
Activity: The real work task or step executed in generating and delivering products and services. The aggregation of actions executed within an organization which is helpful for the purpose of activity-based costing.
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