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.
Cost Driver: Any factor which causes a modification in the cost of an action or output. For illustration, the quality of portions received by an activity, or the degree of complexity of tax returns to be evaluated by the IRS.
A function of measuring and assigning production costs to determine the unit cost. Actual revenue assigns the real cost of materials, labor, and overhead to ma
Operating Budgets: It is a financial document which aids a business in making significant decisions regarding its actions. An operating budget does not contain instant impact on the actual state of the business and exhibits only future projections. Bu
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.
What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P
ACCOUNTING PROCESS: The process of Accounting involves the following steps: Q : Explain Investor Accounting Investor 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
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
Corporate Tax: It is a levy placed on the gain of a firm, with different rates employed for various levels of gains. Corporate taxes are the taxes against profits earned by businesses throughout a given taxable period; they are usually applied to comp
Describe a join between tables?
Cost Accounting: The Cost accounting is an approach to evaluate the overall costs which are related with conducting business. It is generally based on standard accounting practices, cost accounting is one of the tools which managers u
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