Characteristics which accounting information posess
What are the key qualities or characteristics which accounting information should possess?
Expert
The accounting information must possess certain key qualities or characteristics which are as follows:
a) Relevance.b) Reliability.c) Comparability.d) Understandability.
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
Cost or Benefit Analysis: The Cost-benefit analysis (abbreviated as CBA) is an analytical device for assessing and pros and cons of moving forward with the business proposal. It is a process by which business decis
Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.
What do you mean by the term Reliability which is accounting information?
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Write a short note on Not-for-profit organizations?
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.
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