What is Service
What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.
Briefly illustrate the general role of accounting?
What do you mean by the term Comparability which is accounting information?
The duties of each partner: The partners are beneath a fiduciary duty towards one another to: Render true accounts; Account for private gains; and Refrain from competition with the partnership firm.
explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating
Briefly list out the main users of the accounting information which are related to the business?
Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?
Controllable Cost: A cost which can be influenced by the action of responsible manager. The word always refers to a particular manager as all costs are controllable by somebody.
Investor Accounting: It is an individual who commits money to investment products with the hope of financial return. Usually, the primary concern of an investor is to diminish risk whereas maximizing return, as opposed to a speculator, who is willing
A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities
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