Performance evaluation and control-decision making process
Write down a short note on the Performance evaluation and control in decision making process?
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Performance evaluation and control: Management accounting information can assist in reviewing the performance of the business adjacent to agreed criteria. The non-financial indicators are rousingly employed to compute performance, all along with financial indicators. The controls require being in place to make sure that actual performance verifies to plan performance. The actual outcomes will, thus, be compared with plans to see whether the performance is better or inferior than predicted.
What do you mean by the term Understandability which is accounting information?
Cost Assignment: A procedure which identifies costs with activities, outputs, or another cost objects. In a wide sense, costs can be assigned to activities, processes, products, organizational divisions, and services. There are three
Estimated Cost: The procedure of projecting a future outcome in terms of cost, based on information accessible at the time. The estimated costs, instead of actual costs, are at times the basis for credits to work-in-process accounts a
What are the possible broad regions of decision making process where management accounting information is required?
What do you mean by the term Comparability which is accounting information?
Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.
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.
Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal
Write a short note on the relationship between risk and return?
Write a short note on the main working areas of the Marketing department?
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