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Explain about the Management accounting
Management accounting has also changed by becoming more outward looking in its focus. In past, information provided to managers has been largely restricted to that collected within business. Though, attitude and behaviour of customers and rival businesses have now become the object of much information gathering. Increasingly, successful businesses are those which are able to secure and maintain competitive advantage over their rivals.
Q. Analyzing how well the company is performing? The classified income statement illustrates important relationships that help in analyzing how well the company is performing.
Q. Explain about lower-of-cost-or-market method? The lower-of-cost-or-market (LCM) method is the inventory costing method that values inventory at the lower of its historical c
trial balance as at may 31 19*6 dr cr sales 400000 purchases 350000 sales return 5000 purchases return
What is the full disclosure principle
Q. Example of Adjustments for accrued items? For instance assume Micro Train Company has some money in a savings account. On 2010 December 31 the cash on deposit has earned one
Periodic Review
Q. What do you mean by work sheet? The work sheet is a columnar sheet of a computer spreadsheet or a paper on which accountants summarize information needed to make the adjusti
Q. Financial reporting about the economic resources? The third financial reporting should provide information about the economic resources of an enterprise the claims to those
Accounting Accounting has evolved and emerged within response to the social & economic requirement of the society. The accounting procedure has its own syntax. The primary sys
Derivative instrument is an asset which develops i.e. takes its origin from another asset. The simplest form of derivative is a forward contract, "It is an agreement to buy or s
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