Define Variance
Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.
Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa
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
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).
Briefly define how useful is the management accounting information is?
1. HulaHug Corp., which manufactures hula hoops, currently has two product lines, the Roundabout and the Sassafras. HulaHug has total overhead of $124,478. HulaHug has identified the following information about its overhead activity pools and the two
ACCOUNTING PROCESS: The process of Accounting involves the following steps: Q : Asset retirement obligation Significant 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
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
Cost Accounting: The Cost accounting is an approach to evaluate the overall costs which are related with conducting business. It is generally based on standard accounting practices, cost accounting is one of the tools which managers u
Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o
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