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
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.
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
What do you mean by the term Understandability which is accounting information?
ACCOUNTING CONCEPTS: Presented below are basic accounting principles or concepts, with which hospital managers should be familiar and that they should understand i
Common Data Source: All of the programmatic and financial information available for the cost, budgetary, and financial accounting processes. This comprises all financial and much non-financial data, like environmental data, which are
Cost Accounting: The Cost accounting is an approach to evaluate the overall costs which are related with conducting business. It is generally based on standard accounting practices, cost accounting is one of the tools which managers u
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
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
A security that starts as an instrument similar to as check, in which a customer asks the bank to pay the designated amount to a payee in the future. The bank accepts the order, becoming responsible for payment, because the customer has the money to back the check, an
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