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What are some managerment decision that might be based on accounting information?
Wiki User
∙ 11y ago
Making the decision to layoff employees because business has slowed down, the accounting information would show decreased revenues when compareed to prior periods, to protect the bottom line you'd want to cut expenses. The decision to discontinue a product or line of service.
Wiki User
∙ 11y ago
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What is on-line accounting system?
cloud based accounting information system
What is the End product of financial accounting?
Financial Accounting is concerned with preparation of Financial Statements that would serve the interests of Investors, Banks, Creditors, and general public at large. The aim of Financial Accounting is to facilitate Financial Decision Making based on Accurately Gathered Significant financial Information pertaining to the Performance of the Organization and also giving information about the Current position of the Organization's Assets and Liabilities.
Differentiate the Financial Accounting from Cost Accounting and Management Accounting?
to know the financial position(i.e. profit or loss) and cost accounting to know the cost price of product of business and management accounting is to take the decision based on financial and cost accounting to prepare bugdget, analysis etc
What are the topics covered in management accounting?
Objective: This course aims at introducing the student to how useful accounting information is prepared, and how it is effectively used, for the purpose of decision-making.Course content: Overview and introduction to management accounting Cost Concepts, Classifications, Terminology and behavior, Job costing and Activity Based Costing, inventory Costing and Capacity Analysis, Cost-Volume-Profit Analysis, Short-term Decision-Making and Relevant Costing, Long-term Decision Making, Pricing Decisions, Master Budget and Flexible Budgeting and variance analysis.
What is the accounting principle that requires accounting information to be based on actual cost and require assets and services to be recorded initially at the cash or cash equivalent amount?
Cost principal
What is accounting one?
cloud based accounting information system
What is on-line accounting system?
cloud based accounting information system
What is the relationship between cost accounting and managerial accounting?
Financial accounting relates to the information presented based on past events and records. Cost and managerial accounting is the presentation of financial information to the management to be used in decision making while in managerial accounting projections are made based on past trends. e.g. projected cashflows, profit & loss, balance sheet... Financial accounting relates to the information presented based on past events and records. Cost and managerial accounting is the presentation of financial information to the management to be used in decision making while in managerial accounting projections are made based on past trends. e.g. projected cashflows, profit & loss, balance sheet... Financial accounting reports are in standard formats which are worldwide accepted , where as Cost accounting reports are in the format as required by the management
What is the End product of financial accounting?
Financial Accounting is concerned with preparation of Financial Statements that would serve the interests of Investors, Banks, Creditors, and general public at large. The aim of Financial Accounting is to facilitate Financial Decision Making based on Accurately Gathered Significant financial Information pertaining to the Performance of the Organization and also giving information about the Current position of the Organization's Assets and Liabilities.
What is the end product of accounting?
Financial Accounting is concerned with preparation of Financial Statements that would serve the interests of Investors, Banks, Creditors, and general public at large. The aim of Financial Accounting is to facilitate Financial Decision Making based on Accurately Gathered Significant financial Information pertaining to the Performance of the Organization and also giving information about the Current position of the Organization's Assets and Liabilities.
Why is accounting information regulated?
Accounting information is regulated because a lot of stakeholders make business decisions based on this information. If it wasn't regulated, business may be inclined to distort the numbers.
Differentiate the Financial Accounting from Cost Accounting and Management Accounting?
to know the financial position(i.e. profit or loss) and cost accounting to know the cost price of product of business and management accounting is to take the decision based on financial and cost accounting to prepare bugdget, analysis etc
What does accounting involve?
Accounting is the practice of collecting, summarizing and presenting financial transaction and balance information in order to help end users make business decisions based on that information.
What are the topics covered in management accounting?
Objective: This course aims at introducing the student to how useful accounting information is prepared, and how it is effectively used, for the purpose of decision-making.Course content: Overview and introduction to management accounting Cost Concepts, Classifications, Terminology and behavior, Job costing and Activity Based Costing, inventory Costing and Capacity Analysis, Cost-Volume-Profit Analysis, Short-term Decision-Making and Relevant Costing, Long-term Decision Making, Pricing Decisions, Master Budget and Flexible Budgeting and variance analysis.
Briefly describe concept of accounting information system?
Generally accounting information systems are a computer-based system of tracking financial activity in a company, and presenting that transactions in a organized financial statement. Currently, accounting software can be purchased off the shelf, which is much cheaper than when it had to developed by the company.
What are some management decisions that might be based on accounting information?
can make compare financial performance
What is the accounting principle that requires accounting information to be based on actual cost and require assets and services to be recorded initially at the cash or cash equivalent amount?
Cost principal
