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What is a requirement for external and internal profit measurement?
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What unit of measurement is used in management accounting?
profit and loss summary
How long does it take for credit card accounts to be closed if they have not been paid?
If a credit card account has an outstanding balance that is defaulted on, the account will not be closed. The account will be charged to profit and loss, or sent/sold/assigned to collections, either internal or external.
What is profit pool?
Profit Pooling is when a manager chooses the most profitable activity in an industry and decides to engage in that activity for the purpose of generating large proportion of profit from the industry. Example: Education industry - there are many activities in this industry, some are more profitable than others, a strategic manager will consider external and internal elements (Weakness, strength, competitor, law, etc.) to engage in one of the activities for the purpose of earning Above Average Return (AAR). If he succeeds, then we can say there is profit Pool from education industry. -Jude Ehiokhihen E.
What is the importance of internal auditor for an organization?
The purpose of an internal auditor is to review the current methods within a company and determine if they are beneficial or not. This may include review wages of employees, profit margins and sales prices.
What is the distinction between cost accounting and management accounting?
Cost accounting is concerned with cost accumulation for inventory valuation to meet the requirements of external reporting and internal profit measurement.Management accounting relates to the provision of appropriate information for decision-making, planning, control and performance evaluation. (Extracted from Cost and Managment Accounting by Colin Drury, Sixth Edition)
What is maximise?
Growth depends on the volume of investment. Investment depends on capital availability. Capital may come from either internal or external source. External source of capital is costly where as internal generation of funds is economical. Generation of internal capital depends on profit making capacity of a firm. Hence, profit maximization would automatically lead to growth maximization
What is growth maximisation?
Growth depends on the volume of investment. Investment depends on capital availability. Capital may come from either internal or external source. External source of capital is costly where as internal generation of funds is economical. Generation of internal capital depends on profit making capacity of a firm. Hence, profit maximization would automatically lead to growth maximization
3 types of financing?
there are internal and external sources of financing. internal sources are things like selling assets such as computers and machinery other internal sources are retained profit and your own personal money. external sources are things like loans, grants and overdrafts.
How is cocaine influenced by internal and external factors?
Complicated to explain but simple if you know what I mean. It is influenced internally by demand on the streets and externally from how much is being imported etc. If there is a huge drug bust with cocaine being smuggled in, there will be a huge external and internal price rise because the confiscated profits need to be made back up somehow, and that effects the internal prices because a gram is £40, if the supplier (external) said £50 for a gram because of the bust, the dealer (internal) would have to sell at at least £50 to get a profit. Hope this helps.
Why is profit a required for business?
Profit is a requirement in order to help it to grow and make it financially stable. Profit is often used as a measure of efficiency of the company.
What is equily profit?
Equity profit is the money that a company earns from using external capital in its business operations.
What unit of measurement is used in management accounting?
profit and loss summary
Why is profit requirement of business?
If a business is not making a profit then they are losing money if this continues a business will reach a point in which it will have no money and declare bankruptcy.
How long does it take for credit card accounts to be closed if they have not been paid?
If a credit card account has an outstanding balance that is defaulted on, the account will not be closed. The account will be charged to profit and loss, or sent/sold/assigned to collections, either internal or external.
What is the cornerstone of external financial reporting for governmental units and non profit organizations?
accountability
What are the types of internal finance to a firm?
Internal finance is money which is used to help the firm but the the money comes from within the business for example: A internal finance to a firm is last year's profit.
What is profit pool?
Profit Pooling is when a manager chooses the most profitable activity in an industry and decides to engage in that activity for the purpose of generating large proportion of profit from the industry. Example: Education industry - there are many activities in this industry, some are more profitable than others, a strategic manager will consider external and internal elements (Weakness, strength, competitor, law, etc.) to engage in one of the activities for the purpose of earning Above Average Return (AAR). If he succeeds, then we can say there is profit Pool from education industry. -Jude Ehiokhihen E.
