Define Cost
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.
Performance Measurement: A means of computing effectiveness, efficiency, and outcomes. A balanced performance measurement score-card comprises financial and non-financial measures focusing on the quality, cycle-time, and price. The performance measure
Full-Absorption Costing: It is a technique of costing that assigns (or absorbs) all labor, material, and service or manufacturing facilities and support costs to products or another cost objects. The costs assigned comprise those which do and do not d
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A company's annual report is the single most important way for it to convey itself to potential investors. As such, it should be no surprise tha
In the deficiency of a partnership deed, how are mutual relations of partners managed? Answer: In the absence of Partnership deed, the mutual relations are managed b
Controllable Cost: A cost which can be influenced by the action of responsible manager. The word always refers to a particular manager as all costs are controllable by somebody.
An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning
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.
Write down the scope of Management accounting?
What do you mean by the term SWOT analysis? Explain in brief?
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