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an increase or decrease on a company's fixed costs is however not only dependent on the relevant period but also on the relevant production range. The total fixed costs will remain constant if the relevant production range can be handled by the same number of production units, producing fewer steps. If a certain step ( certain cost level) encompasses the entire relevant range of activity, the costs are entirely fixed.
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Why Accounting is a means to an end and not an end in itself?
I think the accounting statement indicates that accounting is merely a tool, or a means, for measuring and determining the state of a business. Accounting is not an end in and of itself. Accounting doesn't define a business' purpose or goal. It's strategy and financing of a business plan that is actually the main purpose.
Define concept of materiality in accounting?
Any omission, misstatement or non disclosure of information that can adversely affect users decision or discharge management from its accountability.
Hou would you define term breadth of literature?
Breadth of literature means a wide range of literature.
Define and example of time period principle?
It is an accounting principle that assumes that all organizations can divide activities into time periods. An example of that is producing a quarterly financial statement.
Define Master Files in computersied accounting?
master file definition hi ka zawng nasa ve tawh khawp mai..mahse ka la hmu lom a..prema
What is relevant rang of activity level in an organization in accounting?
The relevant range of activity level in accounting refers to the range of operations over which a company's cost behavior patterns remain consistent. It helps in making accurate cost predictions and budgeting decisions based on historical data. Understanding the relevant range is crucial for management to optimize resources effectively.
What is relevant rang?
Relevant range is an accounting term that pertains to the minimum and maximum value. It sets the cost boundary in a certain activity level.
The term relevant range as used in cost accounting means the range over which?
Tut Tut Peter Clarke wudnt be happy??
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting?
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting
Is depreciation a relevant cost?
Relevant to what? Depreciation is an accounting contrivance to diminish taxable income.
Relevant range of activity?
The relevant range of activity refers to a the current level of production. If production drops or increases, then the relevant range will change.
Enumerate various sub - fields of accounting?
enumerate and define the fields of accounting and the sub category
Accounting information is considered to be relevant when it?
predictive and feedback and timing
In order to be relevant accounting information must be?
Timely and accurate.
What is company code in SAP?
Company code is an Legal Entity Description: The company code is the central organizational unit of external accounting within the SAP System. You must define at least one company code before implementing the Financial Accounting component. The business transactions relevant for Financial Accounting are entered, saved, and evaluated at company code level.
In management accounting what are relevant costs?
Relevant cost is that cost which will be affected due to the decision company going to make.
How does accounting provide relevant data to the internal users?
Accounting is ingrained in our society and it is vital to our economic system do you agree Explain?
