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
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Variable Cost: A cost which differs with changes in the level of an activity, whenever the other factors are held constant. The cost of material treating to an activity, for illustration, differs according to the number of material de
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
I need homework help in accounting, 10 questions there about break even analysis. let us know if you can so it
Accounts used in governmental accounting to record the budget amounts but not the actual amount. For example, at the beginning of the accounting period, the planned amount of tax revenue, revenue from license, and inflows from fines would be recorded as one amount in
Write a brief note on the things which Opportunities comprises?
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
What are Aging of Accounts? Briefly illustrate it.
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
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