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Benefites of Management accounting information
To obtain this benefit, businesses have become more 'customer driven' (which is, concerned with satisfying customer needs). This has led to management accounting information which provides details of customers and market, like customer evaluation of services provided and market share. Additionally, information about costs and profits of rival businesses that can be used as 'benchmarks' by which to gauge competitiveness, is gathered and reported.
Accounting Errors-Transaction Errors How would the following errors affect the account balances and the basic accounting equation, Assets = Liabilities + Owners' Equity? How do the
Q. Uses of technology in accounting? The computers of persons in a given building or department are frequently connected in a Local Area Network (LAN). These persons are able t
paid rent $200 by cash
Ordering inventory at a regular and set time interval
Define FBT (Fringe Benefit Tax)? Ans) The tax payable on a non-salary benefit given to an employee or an associate of the employee. The employer is likely to pay any FBT and may
Illustrate about the matching principle This principle requires that expenses and revenue be recorded in accounting period in which they occur. For a net income figure to be a
Determining needed adjustments Adjustments are required since certain changes take place during the accounting period. As time passes, although, the value of the asset is consu
Exercise 5-2 - Harwick company. 1) On April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2)On April 6, paid freight costs of $
A view organizes diagrams into logical groups to explain a particular aspect of the system. It is the abstraction of the system prepared is such a way as to give a perspective of a
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