Management accounting as an information system
Explain Management accounting as an information system in brief?
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The Management accounting is a portion of the business’s overall information system. Managers have to made decisions regarding the allocation of limited economic resources. To try to make sure that such resources are allocated in an efficient way, managers need economic information on which to base their decisions. This is the role of management accounting system to give that information and this will include the gathering of information and communication.
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
Limited partnerships: Limited partnerships are an alternative to limited liability companies because of their simplicity. All the states encompass passed limited partnership legislation.A limited partn
Explain the term fixed capital of partners? Answer: Partners' capital is state to be fixed if the capital of Partners remains unchanged except in the situation where
Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.
What are the various features of the management accounting information system?
Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
Incremental Cost: The raise or reduction in total costs which would result from a decision to raise or reduce output level, to add a service or task, or to modify any part of operations. This information aids in making decisions such
Briefly define how useful is the management accounting information is?
Give circumstances in which the fixed capital of partners might change. Answer: Two circumstances in which the fixed capital of Partners might change are as follows:
Write down a brief note on the illustrations of unethical and unacceptable actions?
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