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.
discuss the limitations of human relations approaches to management
List the items that might appear on the debit side and credit side of a partner's fluctuating capital account. Answer: On debit side: Drawing, interest on drawing, c
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.
The duties of each partner: The partners are beneath a fiduciary duty towards one another to: Render true accounts; Account for private gains; and Refrain from competition with the partnership firm.
What are the various features of the management accounting information system?
Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
Support Costs: Costs of activities are not directly related with the production. Typical illustrations are the costs of automation support, postage, communications, process engineering, and purchasing.
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities
What do you mean by the term relevance which is accounting information?
18,76,764
1938862 Asked
3,689
Active Tutors
1446134
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!