Reaping the benefits of IT
What do you mean by the term reaping the benefits of IT? Explain n brief?
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The impact of information technology or IT on the development of management accounting is difficult to overstate. The capability of computers to process big amounts of information signifies that routine reports can be generated rapidly and accurately.
In reality, certain reports might be generated on a daily or even real-time basis. This can be imperative to businesses operating in a highly competitive atmosphere that risk the loss of competitive benefit from making decisions mainly based on imprecise or out-of-date reports. IT has as well enabled information to be more broadly spread all through the business. Rousingly, via their personal computers, staff at all levels is capable to gain access to relevant reports and information to guide their actions and decisions.
Write a short note on the main working areas of the Marketing department?
Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).
Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
Cost Driver: Any factor which causes a modification in the cost of an action or output. For illustration, the quality of portions received by an activity, or the degree of complexity of tax returns to be evaluated by the IRS.
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discuss the limitations of human relations approaches to management
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.
What do you mean by the term Comparability which is accounting information?
Briefly describe the main purpose of the business?
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