Developing objectives and plans in decision making process
Write down a short note on the developing objectives and plans in decision making process?
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Developing objectives and plans: Managers are mainly accountable for establishing the mission and aims of the business and then developing policies and plans to accomplish such objectives. The management accounting information can aid in gathering information which will be helpful in developing suitable objectives and policies. This can as well produce financial plans which set out the likely outcomes from the adopting specific policies. The managers can then employ such financial plans to compute each policy and use this as the basis for deciding between the different policies on offer.
What are the key qualities or characteristics which accounting information should possess?
Full-Absorption Costing: It is a technique of costing that assigns (or absorbs) all labor, material, and service or manufacturing facilities and support costs to products or another cost objects. The costs assigned comprise those which do and do not d
Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
A plan for the cash coming into and going out of a business. Based on the sale forecast, the timing and amounts of cash receipts. Based on forecast of resources necessary to meet the sale forecast, management budgets the cash disbursements. This proc
Give reasons in favor of having a partnership deed. Answer: A) In situation of any dispute or doubt, Partnership deed is the gui
According to Martin and Steele (2010, p.13), “The two principal professional associations in Australia – CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significance of issues of sustainability reporting and develo
The final payment in a partially amortized loan. The balloon payment repay the entire remaining principal and is usually larger than previous payments on the loan. Loan that is set up with balloon payments allow the borrower to make the purchase and have a lower payme
Briefly illustrate the general role of accounting?
Activity Analysis: The identification and explanation of activities in an association. The activity analysis comprises determining what activities are completed within a department and how many people execute the activities, how much
Cost Driver: Any factor which causes a modification in the cost of an action or output. For illustration, the quality of portions received by an activity, or the degree of complexity of tax returns to be evaluated by the IRS.
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