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How does management accounting facilitate the carrying out of management functions?
Wiki User
∙ 9y ago
Management accounting gives the organization's management the tools to plan ahead. It allows the managers to figure out where the company is losing money, and how it can maximize productivity and profits.
Wiki User
∙ 9y ago
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What are the purposes of performance management?
The performance management aims to assess and ensure that the employees are carrying out their tasks well. This also enables the employees to develop their skills.
What is the relationship between financial management and other areas of management?
Financial management is one of the four functions managers must be able to perform. The other three are leadership, planning, and human resources. Financial management deals with money and the way it is used by a company to generate profits. It also includes how that money should be allocated among different departments in order for them to function properly. For example, financial management would tell you if your marketing department needs more funds or if they have enough. Get Link: Norwayoffice.biz
What is the definition of offset accounting?
One that reduces the gross amount of another account to derive a net balance. Accumulated depreciation, which is a contra account to fixed assets to obtain book value, is an example of an offset account. Discount on note payable, which is a reduction of notes payable to derive the carrying value, is another example.
What is estimated annual carrying in money insurance?
value of the inventory
Is doing yesterday's work today?
no, yesterdays work is like carrying on
What is the differences between administration and management?
In reality very little. Though technically you could say that administration is the act of carrying out the functions of management.
What is the smallest unit capable of carrying out life functions?
The cell is the smallest unit of life capable of carrying out life functions.
How does management accounting facilitate the carrying out management function?
Management accounting is largely used in the manufacturing industry and looks at the various cost items to manufacture a product. Budgets are set beforehand for the various cost items (direct materials, direct labour, factory overheads etc). These are then compared to the various actual costs incurred. It provides management with a planning tool for the future, to allocate more precise budgets, but it also provides management with a monitoring and measuring tool to see which areas of production are running efficiently, where cost cutting can be done, where efficiency needs to be increased, what wastage is, what the cost of wastage is etc. As you can see it is very important for manufacturing businesses to use this type of accounting, because when the costs of manufacturing can be held as low as possible, there will be either a larger profit margin for the company, or the company will be able to hold the sales price down, which may be attractive for consumers purchasing the product.
Accounting period concept?
account period accounting period depends on the person carrying the business. Normaly it starts from 1st april. people may have calendar year as an accounting year.
What are a group of cells of similar morphology carrying out common functions?
Tissue
What is mocromolecule?
Is large chemical compound necessary for carrying out life functions.
Explain the four functions of management?
DIFFERENT_FUNCTIONS_OF_MANAGERS">DIFFERENT FUNCTIONS OF MANAGERSManagement operates through various functions, often classified as planning, organizing, leading/motivating and controlling.Planning: deciding what needs to happen in the future (today, next week, next month, next year, over the next 5 years, etc.) and generating plans for action.Organizing: making optimum use of the resources required to enable the successful carrying out of plans.Leading/Motivating: exhibiting skills in these areas for getting others to play an effective part in achieving plans.Controlling: monitoring -- checking progress against plans, which may need modification based on feedbackhttp://hubpages.com/hub/Functions-of-Management-Planning-ControllingGives more insight about management functions,Koontz and O'Donnell classify these management functions into planning, organizing, staffing, directing and controlling functions. Joseph Massie and Warren Haynes categorizes these functions into decision-making, organizing, staffing, planning, controlling, communicating and directing. Innovation and representation are the two complementary functions of management considered by Ernest Dale.
What are a group of cells of similair morphology carrying out common functions?
A group of similar cells carrying out a common function is known as tissue.
What is the smallest unit of life capable of carrying out all life functions?
A cell
What is the definition of book value as applied to accounting?
carrying amount (original value of the asset minus accumulated depreciation)
The theory that defines the state and national governments as essentially separate from each other and carrying out independent functions is?
The theory that defines the state and national governments as essentially separate from each other and carrying out independent functions is dual federalism
What is the process by which cells change in structure and become capable of carrying out specialized functions?
differentiation
