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Relationship among management accounting and cost accounting
Referring to CIMA's definition for cost accounting, we can determine cost accounting is a part of management accounting.
CIMA defines here management accounting like "provision of information required via the management for such reasons like formulation of policies, and controlling and planning the activities of the enterprise, decision taking upon the alternative courses of disclosure, action to those external to the entity as like shareholders and others, disclosure to staff of employ and safeguarding assets. Management accounting and cost accounting contain basically the same functions.
Three oligopolists, A, B and C, produce an identical product, Q. Q is produced under conditions of constant costs, that is, AC = MC = $100. The market demand schedule for Q is:
TYPES OF VARIANCES Variances are computed for the entire three basic elements of cost - direct labour, direct material, and overhead variance 1. Direct labour variance 2.
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In early July, Mike Gottfried purchased a $70 ticket to the December 15 game of the Chicago Titans. (The Titans belong to the Midwest Football League and play their games outdoors
Determine the factors that distinguish profit calculated according to (a) marginal costing and (b) absorption costing principles.
Early customers at Graffiti Week balk at the price for Moondoggie Reserve. The marketing department at DFW, Jolene, conducts some research that suggests Stanislaus county residents
Find the following values for a single cash flow: a. The future value of $500 invested at 8 percent for 1 year b. The future value of $500 invested at 8 percent for 5 years
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