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What are the 3 Major areas of Accounting?
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3 Major areas of Accounting Financial Accounting: Financial Accounting is the process of recording, summarising, analyzing, and providing financial information to users. This involves the preparation of trading account, profit & loss account, and balance sheet. Cost Accounting: Cost accountingRead more
What are the Limitations of Management Accounting?
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Limitations of Management Accounting Lack of Specific Procedure Costly Dependency Personal Bias Uncertain Provides Only Data Management Accounting is only a Tool Lack of objectivity
Define Management Accounting. What are its Objectives?
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Management Accounting is the process of analysis, interpretation, and presentation of accounting information to the users that collected with the help of financial accounting and cost accounting. This helps management in decision making. Objectives of Management Accounting Better Decision Making AssRead more
What are the Characteristic, Features of Cost Accounting?
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Characteristic or Features of Cost Accounting Ascertainment of cost Cost Control Aid to management Determine selling prices Inventory control Measurement of efficiency Budgeting Minimum Wastages
Explain Cost Accounting. What Are The Objectives of Doing It?
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Cost accounting recording of all the costs incurred in the business. Cost including Fixed cost and variable costs. It Provides data to Internal users for decisions making to reduce the cost by cost control. Objectives of Cost Accounting Process Of Accounting For Cost Records Income And Expenditure PRead more
Explain Financial Accounting. What Are Its Characteristic Features?
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Meaning of Financial Accounting Financial Accounting is the process of recording, summarising, analyzing, and providing financial information to users. This involves the preparation of trading account, profit & loss account, and balance sheet. Characteristic, Features of Financial Accounting ReRead more
What are the Various Streams of Accounting?
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Various Streams Of Accounting Financial Accounting: Financial Accounting is the process of recording, summarising, analyzing, and providing financial information to users. In financial accounting, we prepare a trading account, profit & loss account, and balance sheet. Cost Accounting: Cost accoRead more
What is Marketing Management Orientation?
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Marketing Management Orientation is the technique of marketing used in the different time periods. Study way of Marketing in chronological order from the oldest concept to the Newer concept is Called Marketing Management Orientation. It has 5 phases: Production Concept: This is the Oldest marketingRead more
Explain Nature and Scope of Financial Management.
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Nature of Financial Management Decides capital structure: Financial Management Decides the capital structure of the firm/ company Selects the Investment pattern: allocate the funds among the different profitable investment avenues. Raises Shareholder's value: Financial management aims to raises theRead more
What are Advantages and Disadvantages of Human Relations Theory?
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Advantages Of Human Relations Theory Improves the productivity of employees Removes grievance among the employees Improves Employee Retention Hiring and Training the workforce Creates good human relationships Improve the goodwill of the company. Disadvantages Of Human Relations Theory it does not inRead more