Write a short note on Not-for-profit organizations
Write a short note on Not-for-profit organizations?
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There are many organizations which do not exist mostly for the pursuit of gain yet generate management accounting information for the decision-making purposes. Illustrations of such organizations comprise charities, clubs & associations, universities, national and local govt authorities, churches & trades unions. Managers require accounting information regarding such types of organization to assist them to make decisions. The main objectives of not-for-profit organizations will not be concerned with the making of wealth for shareholders, however with making wealth for the organizations and efficiently applying that wealth in the direction of accomplishment of their mission.
What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
In the deficiency of a partnership deed, how are mutual relations of partners managed? Answer: In the absence of Partnership deed, the mutual relations are managed b
Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).
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
Variable Cost: A cost which differs with changes in the level of an activity, whenever the other factors are held constant. The cost of material treating to an activity, for illustration, differs according to the number of material de
Write a short note on why wealth creation is a longer-term concept?
What do you mean by the term relevance which is accounting information?
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs. Q : Explain Process Value Analysis Process Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo
Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo
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