Why most of the larger businesses are not managed
Why most of the larger businesses are not managed as the single unit through one manager?
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The three common reasons which are responsible are as follows:
a) Sheer volume of activity or number of employees employed makes it unfeasible for one person to administer them.
b) Several business operations might need specialized knowledge or expertise.
c) Geographical remoteness of portion of the business operations might make it more practical to administer each location as a separate section or set of separate sections.
What do you mean by the term provision of management accounting information?
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Briefly list out the main users of the accounting information which are related to the business?
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
What is the various information that a manager need to make a decision?
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explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating
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