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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.
implications of applying accounting concepts wrongly
Definition of the Mission and Goals of the Organization Generally the organization has already established mission and aim statements. Though, it may be essential to redefine
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
A local government authority owns and operates a leisure centre with numerous sporting facilities, residential accommodation, a cafeteria and a sports shop. The summer season lasts
SENSITIVITY ANALYSIS OF EOQ MODEL Sensitivity Analysis is regarded with the manner in which those results of solutions change in response to change in model parameters.
Characteristics of irrelevant costs
What are the features of performance budgeting The main features of performance budgeting are: a) Classification into functions activities or programmers. b) Specifyi
Advantages of participatory budgets Information from employees most recognizable with each unit’s needs and constraints is included. Knowledge spread amongst numerous lev
Explain the Shut down cost A cost which will be still be required to be incurred even though a plant is closed or shut down for a temporary period. Ffor example the cost of
solution to problem 2-23,T-Accounts;applied overhead of Kleinman Company is a manufacturing firm and employess a job-order costing system.
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