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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.
1. Calculate the manufacturing costs for the year. 2. Prepare a statement of cost of goods manufactured. 3. Prepare an income statement (assume an income tax 25%)
After going through this section, you must be capable to: Know the concept and characteristics of working capital; Identify with the difference among net working capital
Review the options and views available to answer the following questions: 1. What sort of information is being provided by the dashboard? What visual objects are used? Wh
Required: 1. Using the information provided prepare a Balance Sheet. Separate the current assets from non-current assets and provide a total for each. Also separate the current li
Comparing real and planned outcomes and responding to Divergences from Plan The final phases in the process outlined in figure shown below of comparing real and planned outcome
Analysis of Credit File: Credit file is a compilation of each the relevant credit information of the customer. All the credit information collected throughout the credit informati
Replacement cost It is the cost of replacing a material or asset, by purchase from the current market. If an X material was originally purchased @ Rs. 250 per Kg. And know i
What is kaizen Kaizen is the Japanese term for continuous improvement. The kaizen concept was pioneered by in Japan by Toyota as daily challenge to all its to improve their pro
THEORY OF METAGAMES This theory appears to describe how most people play non-zero sum games involving any number of persons. Prisoner's dilemma is an example of this; the ai
Implementing management accounting and control innovations are often problematic. Provide a brief commentary around the key factors necessary to give such innovations the best chan
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