Illustrate the general role of accounting
Briefly illustrate the general role of accounting?
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The general role of accounting that is to assist people in making informed business decisions. All forms of accounting, comprising management accounting, are mainly concerned with collecting and analyzing financial information and then communicating this information to such making decisions.
Write a short note on why wealth creation is a longer-term concept?
What are the various Calls in Arrears? Describe it.
Describe the provision of 'Indian partnership Act 1932‘concerning sharing of profits in lack of any provision in partnership deed. Answer: In the lack of any p
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
Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.
An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape
Cost Finding: Cost finding methods generate cost data by analytical or sampling techniques. Cost finding methods are suitable for certain type of costs, like indirect costs, items with costs underneath set thresholds in the programs,
Estimated Cost: The procedure of projecting a future outcome in terms of cost, based on information accessible at the time. The estimated costs, instead of actual costs, are at times the basis for credits to work-in-process accounts a
Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?
The rights of each partner: Under the Partnership Act, partners have the right to: Share equally in profits and losses; Indemnity; Interest on advances; Interest on capital; Share in management of
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