Understandability-Accounting information
What do you mean by the term Understandability which is accounting information?
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Understandability: Management accounting reports must be stated as clearly as possible and must be understood by such managers at whom the information is mainly aimed.
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Fixed Cost: The cost which does not differ in the short term with the volume of action. Fixed cost information is helpful for cost savings by regulating existing capacity, or by removing idle facilities. Also termed as Non-Variable Cost or the Constan
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Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.
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Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa
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