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Question:
A friend of yours is revising for his examination in management accounting and needs some help from you. He asks you the following questions. Write brief notes on each one, giving examples to illustrate the points being made.
a) What is the difference between management accounting and financial accounting?
b) What is the difference between marginal costing and absorption costing?
c) What benefits will a company obtain if they use a standard costing system?
d) Why are fixed costs sometimes referred to as period costs?
5 application areas of linear programing in management accounting
Advantages of incremental budgeting a) The budget is stable and change is gradual b) Managers can operate their departments on a steady basis c) The system is relatively
discuss the applicability of an operating cycle in vegetable growing in a low developed country like Uganda- Africa
In this method, approximation of various assets here excluding cash and including liabilities are made getting into consideration the transactions in the ensuring period. Afterward
Disadvantages of ratio analysis 1) False results: ratios are based upon the financial statement. In case financial ratio is incorrect or the data upon which ratios are based
Pricing decision Price may be defined as the exchange of goods or services in terms of money. Without price firm can survive in the society. If money is not there exchange of g
C-V-P ANALYSIS – MULTIPLE PRODUCTS The simple product CVP analysis can be extended to handle the more realistic situations where the firm produces more than one product. The o
Question: (a) A retail store wants to evaluate how many units it must sell in order to earn a profit of Rs 10000 per month if the price of the unit is Rs 300, the average varia
Arrival Rates, Service Rates, and Traffic Intensity The (average) arrival rate is the rate of arrival of customers at a queue, and is often denoted by x. If 10 customers arr
Implementation of ABC analysis The following steps are included in implementing the ABC analysis: 1. Categorize the items of inventories, establishing the expected use in un
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