Changing responsibilities of the management accountant
Write a short note on the changing responsibilities of the management accountant?
Expert
The changing responsibilities of the management accountant are as follows:
a) Less time is used up for preparing the reports.
b) Management accountant is now a main member of the management team.
c) This new measurement to the management accountant’s position must benefit the design of more applicable management accounting information systems.
Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.
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.
Outcome: The outcomes of a program activity as compared to its intended aims. Program outcomes might be computed in terms of service or product quality and quantity, customer satisfaction, and usefulness.
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