Management accounting-scope
Write down the scope of Management accounting?
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The scope of Management Accounting is illustrated below: i) Revaluation accounting ii) Financial Accounting iii) Cost Accounting iv) Control Accounting v) Marginal Costing vi) Budgetary Control vii) Financial Planning and viii) Decision accounting ix) Break Even Analysis x) Taxation xi) Reporting xii) Audit
List the items that might appear on the debit side and credit side of a partner's fluctuating capital account. Answer: On debit side: Drawing, interest on drawing, c
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
Partnership: Whenever two or more persons enter into an agreement to take on business and share its gain and losses, it is a condition of partnership. It can also define as: "Partnership is the relation among persons and who have granted to share the
What are the key qualities or characteristics which accounting information should possess?
Write a short note on selecting strategic options and formulating the plans?
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
What is the maximum and minimum number of partners in each and every type of partnership? Answer: There must be at least two persons to build a Partnership. The maxi
Write a short note on the main working areas of the coach maintenance department?
State some contents of a partnership deed. Answer: A) Name of the firm.B) Name and complete address of the Partners.C) The date of formation and period of Partnership.D) Ratio in which gain or loss
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.
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