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Financial Accounting
Which is concerned with the provision of information to external parties outside the organization? It is the procedure of measuring, classifying, summarizing and reporting financial information used in making economic decisions. It’s concerned with the preparation of financial statements to be used by the firm’s external stakeholders.
The key differences among Management Accounting (MA) and Financial Accounting (FA) can be summarized as follows:
It is significant to define cost accounting at this point.
Describe the important role that the corporate level strategy has in relation to the development of the business and functional strategy in a multi -business organization
Characteristics of cost reduction 1) Cost reduction must be real : said through increase in productivity change in product design improvement in technology etc. 2) Cost r
Determine the The tools and techniques used in management accounting 1. Financial policy and accounting : every concern has to take a decision about the sources of raising fun
When to order-Material control If deliveries from suppliers normally take two weeks to arrive, then replenishment orders should be placed with them when the level of stocks rep
Give the following cost data Costs /per unit labor … $ 4 Materials …5 Fixed cost … $ 12000 Determine the break even point in units if the selling price is $ 19.00 Determine th
Advantage of relevant cost
Steps of choosing an accounting based performance measure Consider the overall goal of the organization as a whole. It is important to choose a measure of accomplishment that r
Prepare two tables showing net profit, residual income and return on investment for each year of the project and also net present value (NPV) for: (i) The BEST OUTCOME; (ii) The
Model Construction The success of a simulation exercise is related to the predictive quality of the underlying model, so that considerable care should be taken with model const
what do you debit and what do you credit in adjusting entry for prepaid rent?
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