1 General-purpose financial statements are the product of a. financial accounting. b. managerial accounting. c. both financial and managerial accounting. d. neither financial nor managerial accounting 2 . Users of financial reports include all of the following except a. creditors. b. government agencies. c. unions. d. All of these are users. 3 . Which of the following statements is not an objective of financial reporting? a. Provide
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Business Economics CMSE11092 Session 2. Theory of Costs Augusto Voltes-Dorta augusto.voltes-dorta@ed.ac.uk Room GF8 Production and Costs • For a manager, it is crucial to know the relationship between cost and output. • Different time-horizons are considered. SHORT RUN • Some inputs are fixed (typically capital) • Fixed vs. variable costs • Economies of Capacity • Operational and tactical decisions LONG RUN • All inputs are variable • Economies of Scale • Economies of Scope • Strategic
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constraints Every organization must have one of the following goals: a. Profit maximization b. Sales maximization If the firm is working in Islamic society then it has one more goal which is “Welfare maximization”. Constraints are the limitations on organization. Every organization has limited amount of input i.e. Land, labor, Capital and all other factors of production. So every organization has to set its goals by considering the resources it has to generate the required output. 2
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"USEFULNESS OF COST VOLUME PROFIT ANALYISI AS AMANGERIAL Concept" By samya Alakhdar , Dr . Moade Shubita , NYIT –AMMAN –JORDAN FALL-2011. Key words :managerial accounting , cost accounting , CVP. o "USEFULNESS OF COST VOLUME PROFIT ANALYISI AS AMANGERIAL CONCEPT" 1 DR.MOADE SHUBITA "USEFULNESS OF COST VOLUME PROFIT ANALYISI AS AMANGERIAL Concept" By samya Alakhdar , Dr . Moade Shubita , NYIT –AMMAN –JORDAN FALL-2011. Key words :managerial accounting , cost accounting , CVP.
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to accomplish its overall objectives.”(Bhimani 2012) The budget of an organization shows its financial capabilities and it must be prepared according to the long term strategy of the organization. This essay will hence examine the advantages and limitations of budgetary control and its effect on performance management. Organisations in the modern day comprise of many different departments that must have proper coordination and communication in order to achieve growth and profits. A budget is a mere
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Accounting Rate of Return | ARR | AAR | ROI Definition Accounting Rate of Return, shortly referred to as ARR, is the percentage of average accounting profit earned from an investment in comparison with the average accounting value of investment over the period. Accounting Rate of Return is also known as the Average Accounting Return (AAR) and Return on Investment (ROI). Topic Contents: 1. Definition 2. Formula 3. Explanation 4. Example 5. Advantages 6. Limitations Formula
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process. The financial reporting process is governed by accounting rules and standards, managerial incentives, and enforcement and monitoring mechanisms. It is important for a user of financial information to understand the financial reporting environment along with the accounting information presented in financial statements. In this chapter, the concepts underlying financial reporting are discussed with special emphasis on accounting rules. Next the purpose of financial reporting is discussed
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overhead absorption rate, return on investment, earnings per share and many other profitability ratios. Therefore management accounting evolved beyond these framework, as a solely profit measurement method, by including non-financial factors in the performance analyse. It is immensely difficult to justify the best approach, which business should operate, as management accounting techniques escalate in large extent and the choice depends on organizational profile. By evaluation of some performance measurements
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Paranjpe (C.E.O & Managing Director), Mr. R. Sridhar (C.F.O), Mr. Pradeep Banerjee (Executive Director), Mr. O.P. Bhatt (Independent director), Mr. Aditya Narayan and Mr. S. Ramadoriai as Independent directors. IMPORTANCE AND LIMITATIONS OF FINANCIAL STATEMENTS IMPORTANCE OF FINANCIAL STATEMENTS Financial statements show the effect of past transactions and events. It also shows how a company is doing. This is necessary as
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ACC501 Cost Accounting.txt Cost Accounting or Cost-Volume-Profit Accounting ACC501 - Accounting for Decision Making Module 2 - Case Abstract This paper contains a brief overview of the current primary accounting standard GAAP but also explores CostVolume-Profit analysis and Cost Accounting. In the 1980s accountants and financial managers embraced technology and became the basis for the Personal Computer’s (PC) explosive expansion. The abilities of the computer coupled with the needs of
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