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What does an auditor do if there is a material difference between an expected and actual balance?
However, if there is a material difference between the expected and actual balance, the auditor will investigate this difference further. At this point the auditor will develop an explanation for the difference.
What is direct material price variance?
Direct material price variance measures the difference between the actual cost of direct materials purchased and the expected cost, based on a standard price. It is calculated by multiplying the difference between the actual price per unit and the standard price per unit by the quantity of materials purchased. A favorable variance indicates that materials were purchased for less than expected, while an unfavorable variance suggests higher-than-expected costs. This variance helps businesses analyze purchasing efficiency and cost control.
Why is provisions for doubtful debt excluded from the sales control account?
Provisions for doubtful debts are excluded from the sales control account because they represent an estimate of potential future losses rather than actual sales transactions. The sales control account is designed to track actual sales revenue and receivables, while provisions for doubtful debts reflect a conservative approach to accounting, ensuring that the financial statements accurately represent expected cash flows. Including them would distort the true sales figures and misrepresent the company's financial health.
How do you monitor and control actual expenses and revenue against projected expenses and revenue?
how to monitor and control expenses against budget/
A major weakness of flexible budgets is?
they force the manager to compare actual costs at one level of activity to budgeted costs at a different level of activity.
What does it mean if you get a negative number when you calculate for percent error?
Depending on whether you subtract actual value from expected value or other way around, a positive or negative percent error, will tell you on which side of the expected value that your actual value is. For example, suppose your expected value is 24, and your actual value is 24.3 then if you do the following calculation to figure percent error:[percent error] = (actual value - expected value)/(actual value) - 1 --> then convert to percent.So you have (24.3 - 24)/24 -1 = .0125 --> 1.25%, which tells me the actual is higher than the expected. If instead, you subtracted the actual from the expected, then you would get a negative 1.25%, but your actual is still greater than the expected. My preference is to subtract the expected from the actual. That way a positive error tells you the actual is greater than expected, and a negative percent error tells you that the actual is less than the expected.
Do the actual results deviate from what was expected If so explain how?
whats the meaning accurately expected results and actual results
What specifies the actual number of atoms of each element inone molecule of a compound?
molecular formula
Precision is a measure of how close an answer is to the actual or expected?
False
Accuracy is a measure of how close an answer is to the actual or expected?
True Apex ;)
Define the marketing control process and explain why it is important for marketing planning?
Marketing control is the process of taking actions or steps to bring the desired results and actual result closer. Many a times actual marketing results deviate from the expected results due to the change in the government regulation or change in competitors strategy and likewise. An efficient and effective marketing control system can help in detecting such deviations and take suitable and appropriate measures to control them.
How would you feel working for a younger manager?
You need to judge the actual manager, no matter what age, because even an older manager can be a pain in the neck.
Precision is a measure of how close an answer is to the actual or expected true or false?
false
What does an auditor do if there is a material difference between an expected and actual balance?
However, if there is a material difference between the expected and actual balance, the auditor will investigate this difference further. At this point the auditor will develop an explanation for the difference.
What does the position of marketing manager do in a company?
A marketing manager in a typical company is responsible for supervising the company's sales force. As a consequence of this, the marketing manager does not actual sell.
What is the expected outcome from investing in the stock market?
The expected outcome is Profit. But, the actual outcome may be different if the stock selected was poor.
How do you calculate missed frequency?
To calculate missed frequency, you need to determine the difference between the expected frequency and the actual frequency of an event. This can be expressed with the formula: Missed Frequency = Expected Frequency - Actual Frequency. Ensure that both frequencies are measured over the same time period or sample size for accurate results. This calculation is often used in fields like telecommunications and quality control to assess performance.
