Reliability-Accounting information
What do you mean by the term Reliability which is accounting information?
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Reliability: Management accounting must be free from noteworthy errors or bias. This must be capable of being relied on by managers to symbolize what it is supposed to stand for. Although both relevance and reliability are mush significant, the problem that we seldom face in accounting is that information which is highly relevant might not be much dependable and that that is reliable might not be much relevant.
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
Cost Driver: Any factor which causes a modification in the cost of an action or output. For illustration, the quality of portions received by an activity, or the degree of complexity of tax returns to be evaluated by the IRS.
An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
Write a short note on the main working areas of the coach maintenance department?
The final payment in a partially amortized loan. The balloon payment repay the entire remaining principal and is usually larger than previous payments on the loan. Loan that is set up with balloon payments allow the borrower to make the purchase and have a lower payme
Capital Budgets: The procedure of finding out which potential long-term projects are value undertaking, by comparing their estimated discounted cash flows with their internal rates of return. Capital Budget is the
Write a short note on the main working areas of the Routing and personnel department?
How have you observed the regulations which affect both your industry and your accounting place?
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