Define Management Accounting
Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?
Expert
Management Accounting is the procedure of determine, presentation and interpretation of accounting information gathered with the assist of cost accounting and financial accounting, so as to assist management in the procedure of decision making, formation of policy and daily operation of an organization. Therefore, it is clear from the above that the management accounting is depended on cost accounting and financial accounting. The objectives of Management Accounting are illustrated below: i) Measuring performance: Management accounting evaluates two kinds of performance. Primary is employee performance and the subsequent is efficiency measurement. The real performance is evaluated with the standardized performance and a report of divergence from the standard performance is reported to the management for the effectual decision making and also point to the effectiveness of the techniques in use. Both kinds of performance management are employed to make counteractive actions so as to improve performance. ii) Assess Risk: aspire of management accounting is to review risk so as to maximize risk. iii) Allotment of Resources: is a significant objective of Management Accounting. iv) Presentation of different financial statements to the Management.
Significant costs associated with the disposal of asset. Accounting for asset retirement obligations requires estimating the cost and discounting estimate. The present value added to the asset's depreciable base and a liability is recorded for the obligation. Every year, interest expense is added
Fortran Project This is our last project of the semester. You have freedom to code anyway you like, but make sure to meet the minimum project requirements.&nb
What are various methods to assign support cost?
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
What do you mean by the term Comparability which is accounting information?
Write down a short note on the Performance evaluation and control in decision making process?
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
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Normal 0
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
18,76,764
1931497 Asked
3,689
Active Tutors
1438952
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!