Management accounting and financial accounting
What does the difference between management accounting and financial accounting suggest?
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Distinction between the management accounting and financial accounting advises that there are differences among the information requirements of managers and such of other users. Whilst differences unquestionably exist, there is as well a good deal of overlap between such requirements. For illustration, managers will, at times, be fascinated in receiving a chronological overview of business operations of the sort given to other users. Uniformly, the other users would be fascinated in receiving information associating to the future, like the planned level of gains and non-financial information.
Refer to the below data. A budget surplus occurred in year: A) 2. B) 3. C) 4. D) 6. Provide solution of th
Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr
Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
What are the possible broad regions of decision making process where management accounting information is required?
What are various methods to assign support cost?
Cost Finding: Cost finding methods generate cost data by analytical or sampling techniques. Cost finding methods are suitable for certain type of costs, like indirect costs, items with costs underneath set thresholds in the programs,
What do you mean by the term Comparability which is accounting information?
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
Write a short note on the key areas which business objectives want to achieve?
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.
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