an increase or decrease on a company's fixed costs is however not only dependent on the relevant period but also on the relevant production range. The total fixed costs will remain constant if the relevant production range can be handled by the same number of production units, producing fewer steps. If a certain step ( certain cost level) encompasses the entire relevant range of activity, the costs are entirely fixed.
I think the accounting statement indicates that accounting is merely a tool, or a means, for measuring and determining the state of a business. Accounting is not an end in and of itself. Accounting doesn't define a business' purpose or goal. It's strategy and financing of a business plan that is actually the main purpose.
Any omission, misstatement or non disclosure of information that can adversely affect users decision or discharge management from its accountability.
Breadth of literature means a wide range of literature.
It is an accounting principle that assumes that all organizations can divide activities into time periods. An example of that is producing a quarterly financial statement.
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Relevant range is an accounting term that pertains to the minimum and maximum value. It sets the cost boundary in a certain activity level.
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Define 'Accounting' Distinguish between Financial Accounting and Management Accounting
Relevant to what? Depreciation is an accounting contrivance to diminish taxable income.
The relevant range of activity refers to a the current level of production. If production drops or increases, then the relevant range will change.
enumerate and define the fields of accounting and the sub category
predictive and feedback and timing
Timely and accurate.
Relevant cost is that cost which will be affected due to the decision company going to make.
Accounting is ingrained in our society and it is vital to our economic system do you agree Explain?
which is different from accounting,refers to the mechanical aspects off accounting, such as recording,classifying,and summarising transactions.bookkeeping is therefore a part off accounting....
Managerial accounting mostly concerns the use of accounting information to business managers so they can make better informed financial decisions about the company. This is relevant to all accounting majors and their future careers, because even if they do not intend to enter a management position, they need to know how to relay this information to various management positions.