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.
Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.
Explain the term bank reconciliation statement?
Investor Accounting: It is an individual who commits money to investment products with the hope of financial return. Usually, the primary concern of an investor is to diminish risk whereas maximizing return, as opposed to a speculator, who is willing
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
What are the various features of the management accounting information system?
Meaning of Reconstitution: Any alter in agreement of partnership is termed as reconstitution of partnership firm. In following circumstances a partnership firm might be reconstituted: A) Alter in Profit Sharing Rat
What are various methods to assign support cost?
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
What are the possible broad regions of decision making process where management accounting information is required?
Write a short note on why wealth creation is a longer-term concept?
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