Benefit of economic in accounting management information
Write down a short note on the benefit of economic in accounting management information?
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The economic advantages of having management accounting information are even harder to evaluate. This is possible to exert some science to the problem of weighing the costs and advantages; however a lot of subjective judgment is probable to be included. Whilst no one would fatally advocate that the typical business must generate no management accounting information, at similar time, no one would advocate that each and every item of information which could be seen as possessing one or more of the key features must be generated, irrespective of the cost of generating it.
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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.
Variable Cost: A cost which differs with changes in the level of an activity, whenever the other factors are held constant. The cost of material treating to an activity, for illustration, differs according to the number of material de
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Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
Define Process and Process Costing: Process: The organized process of transforming inputs (that is, people, equipment, techniques, materials, and atmosphere), to outputs (that is, products or servi
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What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.
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