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.
Product: Any traceable, discrete, or measurable good or service given to a customer. Frequently goods are termed to as tangible products, and services are termed to as intangible products. A good or service is the product result of a procedure resulta
The operating level at which the total sales revenue equals the total cost. Total sale revenue is equal to the price per unit times the number of units sold. Total cost equals total variable cost, the number of units sold in time the variable cost per unit and the tot
Write a short note on the main working areas of the Finance department?
Write down the scope of Management accounting?
Cost Reduction: The procedure of looking for, finding and eliminating unwarranted expenses from the business to raise gains without containing a negative impact on the product quality. Most of the business managers will engage in periodic cost reducti
The process of testing a new software program using actual data and comparing the results to the alternative soft wares. The alternative can be new software or the organization's existing system. The test should be examined the software's accuracy and efficiency.
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
Standard Costing: A costing technique which joins costs to cost objects based on reasonable approximations or cost studies and by the means of budgeted rates instead of according to actual costs incurred. The predictable cost of gener
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Activity Analysis: The identification and explanation of activities in an association. The activity analysis comprises determining what activities are completed within a department and how many people execute the activities, how much
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