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What is the Meaning Cost reduction
Now a day business is operating in a globally competitive environment. Where in order to increase profit increase in selling prices of products/services may not be possible because of fears of shrinkage in volume. Thus in order to improve profit performance businesses have to be extremely cost conscious and improve their performance in cost. In other words, in this age of competition, in order to survive and improve profitability managers have to make continuous efforts to find out ways and means to control and reduce costs.
Explain TWO limitations of using accounting ratios to assess the performance of a firm and suggest how each limitation may be improved
definition and illustrations
Input or exogenous variables These are variables of two types: 1) Controlled variables: These are variables that can be controlled by management. By changing the input
Given budgeted figures and actual, then analyses each fixed cost into its components
Negotiated prices Where market based prices are not applicable, it has been argued that allowing managers to bargain with each other in order to establish transfer prices devel
What is the objective of performance budgeting The objectives of performance budgets is to provide a closer linkage between planning and action and also to provide a common bas
Determine the Functions of management accounting: 1. Planning and forecasting: management fixes various targets to be achieved by the business in near future. Planning and fo
One of the main deities of the financial manager is to keep a sound liquidity position for the firm hence the dues are settled as and while they mature. Separately from this the fi
Airlines give away millions of tickets each year through their frequent flyer programs, with the typical airline awarding a free ticket for each 25,000 miles flown on the airline.
select any manufacturing company of your choice that produces any product. describe and compare the marginal and absorption costing system used in the selected company
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