Relevance-accounting information
What do you mean by the term relevance which is accounting information?
Expert
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.
Why you want to be an accountant? Normal 0 false
Cost Accounting: The Cost accounting is an approach to evaluate the overall costs which are related with conducting business. It is generally based on standard accounting practices, cost accounting is one of the tools which managers u
Write down the scope of Management accounting?
ACCOUNTING PROCESS: The process of Accounting involves the following steps: Q : Describe a join between tables Describe Describe a join between tables?
Describe a join between tables?
Profit or Loss (P&L) Analysis: A financial statement which summarizes the revenues, costs and expenses acquired during a particular period of time - in general a fiscal quarter or year. Such records give information which exhibits the capability o
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing
Activity: The real work task or step executed in generating and delivering products and services. The aggregation of actions executed within an organization which is helpful for the purpose of activity-based costing.
What do you mean by the term Reliability which is accounting information?
18,76,764
1942300 Asked
3,689
Active Tutors
1414494
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!