Define partnership
A partnership is stated as ‘the relationship which subsists among persons carrying on business in common with a view togain or profit’
Why most of the larger businesses are not managed as the single unit through one manager?
Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr
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
What find out the size of this loss? The size of the deadweight loss is based on the elasticity of supply and demand. As the elasticity of demand increases and the elasticity of supply decreases, that means as sup
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
The first section of the statement of cash-flow. Cash flows from operating activities include transactions (involving cash) that relate to the normal busi- ness activities of the entity. Cash-flows in this section usually involve cash and other current asset or curren
Investor Relations: A department, exist in most medium to big public companies, which gives investors with a precise account of the company's affairs. This aids investors to make informed sell or buy decisions. Inv
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.
Managerial Cost Accounting System: The organization and processes, whether automated or not, and whether portion of the general ledger or stand-alone, which accumulates and reports constant and trustworthy cost information and perform
From the books of Aggarwal Bors, the following information have been extracted: Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% The firm is proposing to buy a new plant which can generate additional annual profit of Rs. 10,000. The fixed
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