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.
Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
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Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
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