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.
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What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
Managerial Cost Accounting System: The organization and processes, whether automated or not, and whether portion of the general ledger or stand-alone, which accumulates and reports constant and trustworthy cost information and perform
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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.
Traceability: The capability to assign a cost directly to a particular activity or cost object by identifying or observing particular resources used by the activity or cost object.
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