Management accounting and financial accounting
What does the difference between management accounting and financial accounting suggest?
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Distinction between the management accounting and financial accounting advises that there are differences among the information requirements of managers and such of other users. Whilst differences unquestionably exist, there is as well a good deal of overlap between such requirements. For illustration, managers will, at times, be fascinated in receiving a chronological overview of business operations of the sort given to other users. Uniformly, the other users would be fascinated in receiving information associating to the future, like the planned level of gains and non-financial information.
Support Costs: Costs of activities are not directly related with the production. Typical illustrations are the costs of automation support, postage, communications, process engineering, and purchasing.
Write down a short note on the benefit of economic in accounting management information?
Operating Budgets: It is a financial document which aids a business in making significant decisions regarding its actions. An operating budget does not contain instant impact on the actual state of the business and exhibits only future projections. Bu
What do you mean by the term Reliability which is accounting information?
Outcome: The outcomes of a program activity as compared to its intended aims. Program outcomes might be computed in terms of service or product quality and quantity, customer satisfaction, and usefulness.
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What do you mean by the term Understandability which is accounting information?
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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
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