Performance evaluation and control-decision making process
Write down a short note on the Performance evaluation and control in decision making process?
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Performance evaluation and control: Management accounting information can assist in reviewing the performance of the business adjacent to agreed criteria. The non-financial indicators are rousingly employed to compute performance, all along with financial indicators. The controls require being in place to make sure that actual performance verifies to plan performance. The actual outcomes will, thus, be compared with plans to see whether the performance is better or inferior than predicted.
Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.
Full-Absorption Costing: It is a technique of costing that assigns (or absorbs) all labor, material, and service or manufacturing facilities and support costs to products or another cost objects. The costs assigned comprise those which do and do not d
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Explain the term fixed capital of partners? Answer: Partners' capital is state to be fixed if the capital of Partners remains unchanged except in the situation where
What do you mean by the term Comparability which is accounting information?
An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning
explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating
Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of
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What are the possible broad regions of decision making process where management accounting information is required?
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