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.
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
What is the various information that a manager need to make a decision?
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explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating
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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
A company has production facilities in several countries. Some of the products they sell are produced in stages (Raw Materials -> Pre-Assembly -> Assembly -> Finished Product) based on the technologies and materials involved (see Table 1). Q : Why wealth creation is a longer-term Write a short note on why wealth creation is a longer-term concept?
Write a short note on why wealth creation is a longer-term concept?
Briefly define how useful is the management accounting information is?
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
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