Illustrate the general role of accounting
Briefly illustrate the general role of accounting?
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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.
Responsibility Segment: A noteworthy organizational, functional, operational, or process component that has the characteristics as: (i) Its manager reports to the entity's top management;
Write down a short note on the developing objectives and plans in decision making process?
Write down the scope 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
Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
Inter-Entity: A term meaning between or among distinct federal reporting entities. It generally refers to the activities or costs among two or more agencies, bureaus or departments.
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
Write a short note on Not-for-profit organizations?
Normal 0
Cost Assignment: A procedure which identifies costs with activities, outputs, or another cost objects. In a wide sense, costs can be assigned to activities, processes, products, organizational divisions, and services. There are three
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