Relevance-accounting information
What do you mean by the term relevance which is accounting information?
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Relevance: Management accounting information should have the capability to affect decisions. Unless this feature is present, there is really no point in generating the information. This signifies that the information must be targeted at the needs of the individual manager for whom it is being offered.
Write a brief note on the things which Opportunities comprises?
What do you mean by the term balancing risk and return? Explain in brief?
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.
Incremental Cost: The raise or reduction in total costs which would result from a decision to raise or reduce output level, to add a service or task, or to modify any part of operations. This information aids in making decisions such
Controllable Cost: A cost which can be influenced by the action of responsible manager. The word always refers to a particular manager as all costs are controllable by somebody.
Accounts used in governmental accounting to record the budget amounts but not the actual amount. For example, at the beginning of the accounting period, the planned amount of tax revenue, revenue from license, and inflows from fines would be recorded as one amount in
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered
What do you mean by the term provision of management accounting information?
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.
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