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What are Characteristics of Accounting?
Mike Johnson
Comparability: Accounting provides information that can be compared with other firms. Reliability: Accounting information is reliable as it only considers only financial transactions. Relevance: It is very relevant to the user, internal users use this for managing the organization whereas external uRead more
- Comparability: Accounting provides information that can be compared with other firms.
- Reliability: Accounting information is reliable as it only considers only financial transactions.
- Relevance: It is very relevant to the user, internal users use this for managing the organization whereas external users use this for their decision making.
- Understandability: To understand the accounting person need to have some knowledge of accountancy.
See lessExplain management is science or art.
Mike Johnson
Management is both art and science Art is managing things with there experiencing it change when manager change. whereas the science which as applicable to the whole universe and remains same. 1. Management is an art as the manager needs to use their experience to get work done. 2. Management is alsRead more
Management is both art and science
Art is managing things with there experiencing it change when manager change. whereas the science which as applicable to the whole universe and remains same.
1. Management is an art as the manager needs to use their experience to get work done.
2. Management is also science as data of a particular thing remain the same at all and can be used in managing things.
so Management is both art and science.
See lesswhat are the five elements in the management process?
Mike Johnson
Five Elements in the Management Process Planning: Setting up plans in advance, what to do? who will do? How are they going to complete the task? Organizing: In organizing, we provide it with those assets that will use in the production or running the organization example: raw material, machines, caRead more
Five Elements in the Management Process
read the full article Elements of management Process
See lessWhat is function of management?
Mike Johnson
Planning: First we plan, What is to be done? Who is going to do it? How are they going to complete the task? Organizing: To organize a business is to provide it with everything useful or its functioning example: raw material, machines, capital, and staff. Staffing: Hiring the employee providing themRead more
- Planning: First we plan, What is to be done? Who is going to do it? How are they going to complete the task?
- Organizing: To organize a business is to provide it with everything useful or its functioning example: raw material, machines, capital, and staff.
- Staffing: Hiring the employee providing them training, giving them works role.
- Directing: leadership, communication, motivation, and supervision
- Controlling: Measuring actual performance with the pre-determined standard and finding out the deviations.
See lessExplain the Qualitative Characteristics of Accounting Information.
Mike Johnson
These are Qualitative Characteristics of Accounting Information Relevance: Information should be available on time and improve decision making. Reliability: Information should be free from error and biasedness. Comparability: Information should be enough so we can compare it with the other Firm. ConRead more
These are Qualitative Characteristics of Accounting Information
- Relevance: Information should be available on time and improve decision making.
- Reliability: Information should be free from error and biasedness.
- Comparability: Information should be enough so we can compare it with the other Firm.
- Consistency: Information is consistently presented from time to time.
See lessWhat are the three major functions of a distribution channel?
Mike Johnson
Three major functions of a distribution channel Storing and Distributing Products- Contacting Customers- Marketing of Products-
Three major functions of a distribution channel
- Storing and Distributing Products-
- Contacting Customers-
- Marketing of Products-
See lesswhy are Banks Important to the Economy
Mike Johnson
Importance of bank Provide Finance of Firm to run there business smoothly. Encourages Saving habits of the citizen. Helps in export and import business in exchange in currency. Transfer Savings into Investment Bring Economic Stability Read the full artice
Importance of bank
Read the full artice
See lesswhat are the 3 depreciation methods?
Mike Johnson
3 methods of depreciation Straight-line Depreciation Method: In this method, the fixed amount is considered as the depreciation on fixed assets. Units of production depreciation method: In this method, the production is considered when the production is low at that time depreciation is low when prodRead more
3 methods of depreciation
- Straight-line Depreciation Method: In this method, the fixed amount is considered as the depreciation on fixed assets.
- Units of production depreciation method: In this method, the production is considered when the production is low at that time depreciation is low when production is high then depreciation will be high.
- Written Down Value Method(WDV): In this method, fix percentage calculates on the opening value of the fixed and considered as the depreciation.
See lessWhat is the Most Common Method of Depreciation?
Mike Johnson
There are two common methods of Depreciation. Straight-line Depreciation Method: Under this method, the fixed amount is considered as the depreciation on fixed assets. Written Down Value Method(WDV): Under this method, fix percentage calculates on the opening value of the fixed and considered as theRead more
There are two common methods of Depreciation.
- Straight-line Depreciation Method: Under this method, the fixed amount is considered as the depreciation on fixed assets.
- Written Down Value Method(WDV): Under this method, fix percentage calculates on the opening value of the fixed and considered as the depreciation.
See lesswhat is the main Objective of Service Management?
Mike Johnson
Main Objective of Service Management Proper Utilization of Funds: The main objective of service management is to proper utilization of funds. By making proper decisions Better Decision Making: Service management helps in decision making by providing the managerial function from planning to controlliRead more
Main Objective of Service Management
- Proper Utilization of Funds: The main objective of service management is to proper utilization of funds. By making proper decisions
- Better Decision Making: Service management helps in decision making by providing the managerial function from planning to controlling.
- Motivates Employees: It keeps a full check on employees’ activities and measures their effectiveness from time to time. If employees are doing good so they will get incentives and promotions.
- Increase in Profit: Service Management has to ensure that the organization makes a profit by reducing the worthless expensive.
- Goodwill: Good service form a business will lead to an increase in goodwill of the business
- Growth of Business: If the business is doing service management right, then the business will grow.
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