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.
ACCOUNTING PROCESS: The process of Accounting involves the following steps: Q : Acquisition entry on Balance Sheet 1. Q : Define Unit Cost Unit Cost : The cost Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.
Q : Define Unit Cost Unit Cost : The cost Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.
Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.
The U.S. market for rice is illustrated below. The world pric
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Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
What is the various information that a manager need to make a decision?
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