Classification of costs with examples and
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
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
What are the possible broad regions of decision making process where management accounting information is required?
Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.
Write a short note on the main working areas of the Marketing department?
What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
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
ACCOUNTING CONCEPTS: Presented below are basic accounting principles or concepts, with which hospital managers should be familiar and that they should understand i
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Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
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