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.
A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a
Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr
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Activity Analysis: The identification and explanation of activities in an association. The activity analysis comprises determining what activities are completed within a department and how many people execute the activities, how much
Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs. Q : Define Avoidable Cost Avoidable Cost : Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of
Standard Costing: A costing technique which joins costs to cost objects based on reasonable approximations or cost studies and by the means of budgeted rates instead of according to actual costs incurred. The predictable cost of gener
Expense: The Outflow or other using up of resources or acquiring liabilities (or a combination of both), the advantages from which exert to an entity's operations for the present accounting period, however they do not expand to future
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