--%>

Illustrate the general role of accounting

Briefly illustrate the general role of accounting?

E

Expert

Verified

The general role of accounting that is to assist people in making informed business decisions. All forms of accounting, comprising management accounting, are mainly concerned with collecting and analyzing financial information and then communicating this information to such making decisions.

   Related Questions in Managerial Accounting

  • Q : Operation of business

    What are the main reasons that the operation of business environment has become ever more turbulent and competitive?

  • Q : What is Service What do you mean by

    What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.

  • Q : When does a partnership exist A) A

    A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a

  • Q : Changing business landscape What do you

    What do you mean by the term changing business landscape?

  • Q : Changing responsibilities of the

    Write a short note on the changing responsibilities of the management accountant?

  • Q : The provision of management accounting

    explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating

  • Q : Define Job Costing Job Costing : It is

    Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs.

    Q : Capital gain The increase in value that

    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

  • Q : Benefit of economic in accounting

    Write down a short note on the benefit of economic in accounting management information?

  • Q : Define Profit or Loss Analysis Profit

    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