Define Differential Cost
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
Write a short note on the main working areas of the Finance department?
Write down the scope of Management accounting?
Cost Allocation: This is a technique of assigning costs to activities, outputs, or other cost objects. The allocation base employed to assign a cost to objects is not essentially the cause of the cost. For illustration, assigning the
Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.
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
A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a
A security that starts as an instrument similar to as check, in which a customer asks the bank to pay the designated amount to a payee in the future. The bank accepts the order, becoming responsible for payment, because the customer has the money to back the check, an
Cash Management: Cash Management is the management of cash balances of a concern in such a way as to maximize the accessibility of cash not invested in inventories or fixed assets and to ignore the risk of insolvency. According to Keynes there are thr
Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal
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