Regions of decision making process
What are the possible broad regions of decision making process where management accounting information is required?
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The possible broad regions of decision making process where management accounting information is required are as follows:
a) Developing objectives and plans.b) Performance evaluation and control.c) Allocating resources.d) Determining costs and gains.
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Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
What are Aging of Accounts? Briefly illustrate it.
Write a short note on the key areas which business objectives want to achieve?
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
An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning
Write a brief note on the things which Opportunities comprises?
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