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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?
Management Accounting Influence (A) Transfer pricing and performance measurement relies upon the judgment of the management accountant to make a suitable choice of approach
Laplace Criterion of Rationality This criterion holds that if decision makers do not know the probabilities of the various states of nature and have no reason to think otherwis
Production As you would suspect, effectively directing an organization needs prudent management of production. Because this is a hands-on process, and often entails dealing wit
Question 1 The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000. Sundry Debtors
Product life cycle costing It is an approach used to give a long term picture of product line profitability feedback on the effectiveness of life cycle planning and cost data t
INVENTORY PLANNING AND CONTROL The main goal of "inventory control" is to discover and maintain the optimum level of investment in all types of inventories, from raw materials
critically examine the current cost accounting for price level changes
The Baumol Model in 1952 considers cash management complication as same to inventory management problem. For itself the firm attempts to minimize the total cost that is the sum of
explain strategy asa an organisational process
Yolande Tzar came to Northern Ireland from Poland five years ago to study at university. After graduating she worked as a sales manager for a local company and saved her wages to b
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