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Management Accounting
It is the part of accounting such provides special-reason statements and reports to other persons and management inside the organization. The information generated via management accounting is hence for internal uses and is not guided via any type of standards or else legal requirements. Management Accounting, not like financial accounting, is proactive that is like future-oriented. It is required in creation decisions such affect the organization.
During a nutshell, cost accounting enables a business to not only determine what various processes or jobs have cost, and also for what they must have cost. It signifies where losses are happening before the work is finished and thus corrective action can be undertaken. From the previous discussion, it is then specified that cost accounting is extremely closely related to another accounting subjects especially management accounting. Actually, most people compose no distinction between cost accounting and management accounting, like the dividing line among the two is slimmer than thin.
Match the items below by entering the appropriate code letter A. Controller B. Deficit C. Payout Ratio D. Stock Dividend E. Declaration Date F. Preemptive right G. Par Value H. L
The following data (in thousands of dollars) have been taken from the accounting records of Barn Burner Corporation for the just completed year. Sales
The principle that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash and (3) m
Opportunity Costs Are Relevant Costs Opportunity cost introduces an additional concept that is not available like part of normal cost analysis in the accounting record system.
You work for a firm of accountants as a junior accounts assistant and part of your role is to prepare clients' ledgers accounts from incomplete records. A client of the firm you
Uniform Costing It is a general system utilizing agreed concepts, standard and principles accounting practices adopted via different entities in the similar industry to ensure
Keyser Beverage Company reported the following items in the most recent year. Net income $40,630 Dividends paid 5,390 Increase in accounts receivable 12,130 Increase i
Which of the four types of costs would include Direct Labor? A. Unit-Level B. Batch-Level C. Product Sustaining D. None of the above
The enhancing qualitative characteristic of understandability means that information should be understood by a those who are experts int eh interpretation of financial informat
Fixed Overheads Variance This is defined like the difference between the fixed overheads attributed and the standard cost of fixed overheads absorbed in the production achieve
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