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Explain Management accounting
Meaning & definition: Management accounting is comprises of two words, Management and accounting. It is the study of managerial aspect of the accounting. The emphasis of the Management accounting is to redesign accounting is such a way that it is helpful to the management in formation of policy, control of execution and appreciation of effectiveness. It is that accounting which helps management in carrying out its functions more efficiency.
Explain Support activitiesand production process activity Support activities are for example schedule production set up machine purchase materials inspect item customer orde
What is the Flexible budgets A flexible budget consists of a series of budgets for different level of activity. It therefore varies with the level of activity attained. A flex
Multi-collinearity Multiple regression analysis is based on the assumption that the independent variables are not correlated with each other, whenever the independent variables
Cash management is related along with the management of: Cash outflows and inflows of the firm Cash flows inside the firm Cash balances as financing deficit and inve
Explain Quality control and Total quality control Quality control (QC) circles can be viewed as a group oriented suggestion system for making improvements. QC circle is a sm
Explain the tools of management accounting
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Himalaya Ltd.'s Profit and Loss Account for the year ended on 31st December 2005 is specified below. You are needed to determine the working capital needs under operating cycle met
What is the definition of internal controls
Explain Direct labor cost standard The setting up of standard labor cost for each product would require: a) The determination of budgeted fixed overhead for a period b) B
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