Define Management Accounting
Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?
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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.
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Select the right answer of the question. If the economy has a standardized budget surplus, it means that: A) the public sector is exerting an expansionary impact on the economy. B) tax revenues would exceed government expenditures if full employment were achieved. C)
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describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
Assignment 1: A adjusted Trial balance table given below: Southwest Business School Discover Q & A Leading Solution Library Avail More Than 1435489 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1928826 Asked 3,689 Active Tutors 1435489 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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