Why wealth creation is a longer-term concept
Write a short note on why wealth creation is a longer-term concept?
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At mainly relates not just to this year’s gain however to that of future years also. In short term, corners can be cut and risks taken which enhance present gain at the expense of future gain.
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
Describe the provision of 'Indian partnership Act 1932‘concerning sharing of profits in lack of any provision in partnership deed. Answer: In the lack of any p
Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing
Support Costs: Costs of activities are not directly related with the production. Typical illustrations are the costs of automation support, postage, communications, process engineering, and purchasing.
What are the key qualities or characteristics which accounting information should possess?
Trust Accounting: It is the "accounting of each and every item of income and expenditures which are employed to find out the amount that certain beneficiaries will obtain from the trust each year." Actually, it is equivalent to all the revenues receiv
Cash Management: Cash Management is the management of cash balances of a concern in such a way as to maximize the accessibility of cash not invested in inventories or fixed assets and to ignore the risk of insolvency. According to Keynes there are thr
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.
Briefly define how useful is the management accounting information is?
Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.
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