What is the importance of Responsibility Accounting?

Q: How can an accounting information system provide management with information for better…

A: Accounting Information System: Accountants, consultants, business analysts, managers, chief…

Q: What is the relationship between the value chain and management accounting?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: what accounting method will be used to evaluate each of the responsibility centers?

A: Responsibility accounting: Responsibility accounting refers to the various tool used by managerial…

Q: what is the basic accounting model?

A: Accounting Model is the collection of principles, rules and guidelines that form framework for…

Q: How should managers estimate and interpretcost information?

A: Cost: It refers to the economic value incurred by a company to produce a product or deliver a…

Q: Explain the relationship between the Cost Management System and the Financial Accounting System

A: Point of Differences Financial Accounting System Cost Management System Meaning…

Q: How does management accounting fit into an organization's organizational structure?

A: This question explains about the management accounting fit into an organization's organizational…

Q: Can responsibility be delegated? Explain?

A: No,authority can be delegated but responsibility is absolute and cannot be delegated.

Q: What are the outputs of the accounting cycle, why are they important and how are they interrelated?

A: Outputs of the accounting cycle-First of all, we need to understand what is an accounting cycle.  An…

Q: quality of accounting standards?

A: Accounting standards determine thee accounting information must have relevance, must be reliable and…

Q: What is management accounting?

A: Financial accounting: Financial accounting is different from managerial accounting. Financial…

Q: What is the value of customer relations and customer service?

A: Customer relations is the relationship with customer and the focus of which is to build customer…

Q: What are the three steps in designing accounting-based performance measures?

A: Accounting based performance measures: Accounting based performance measures can be defined as…

Q: hat are the relationship between framing effect and mental accounting?

A: Mental Accounting: Mental accounting refers to the various values an individual places on the same…

Q: What is a responsibility center?

A: Responsibility center: Responsibility centers are the segment of an organization which is authorized…

Q: Explain whether the cost of accounting systems primarily support internal or external reporting

A: Cost Accounting System: Cost accounting system can be defined as a framework designed by the…

Q: What is meant by the control function of management accounting?

A: Management accounting: It can be defined as the process of preparing reports related to the…

Q: What is the significance of managerial economics in Accountancy?

A: Accountancy is related to summarizing, recording, classifying, analysing and bookkeeping the…

Q: How an accounting information system can improve the efficiency and effectiveness of the supply…

A: solution:- Introduction:- An information system play vital role in every organization. It is the…

Q: Explain how to get positive behavioral effects from a responsibility-accounting system.

A:

Q: What is the key feature of activity-based responsibility accounting? Briefly explain.

A:

Q: Explain how the choice of the type of responsibility center (cost, revenue, profit, or investment)…

A:

Q: accounting definition?

A: Accounting means a process of recording , classifying , summarizing , interpreting and communication…

Q: What is ethical accounting

A: Ethics: At its most basic level, ethics is a set of moral rules that guide behavior. They have an…

Q: What is management’s primary objective?

A: The primary objective of the management is Shareholders wealth maximization which is a long-term…

Q: What is the similarities and defference between cost accontant, management accountant and fanincial…

A: Cost accountant deals with ascertainment, allocation, recording and analysis of accounting data. It…

Q: What is the most fundamental accounting model?

A: Solution:- Introduction:- Accounting model play vital role in accounting. Accounting model gives…

Q: What is the benefit of a single set of high-quality accounting standards?

A: Definition: Accounting standards: The set of guidelines to follow for the preparation of the…

Q: How much is the total accountability?

A: Financial accountability means that the performance of a certain function shall be borne by a person…

Q: What is Accounting

A: The accounting is main part or language of the business which helps to maintain the all the…

Q: Accountancy concepts should be explained.

A: Accounting fundamentals: Accounting principles refer to the conventions or standards that must be…

Q: What is the primary purpose of managerial accounting?

A: It is a branch of accounting that gives aid to management, as it provides relevant information that…

Q: Who are the focused users/stakeholders of financial accounting and cost accounting?

A: Financial and Cost accounting are the major accounting area in an organization. It will helpful to…

Q: Responsibility Accounting Essay

A: The word "responsibility accounting" refers to an accounting system that gathers, summarizes, and…

Q: What is the desired benefit from revising an accounting standard?

A: Financial Accounting Standards Board:   It is commonly known as FASB. It is a private, non-profit…

Q: What is a managerial accounting

A: Managerial accounting is like a tool to help management in effective planning and control over the…

Q: What is the purpose of a responsibility accounting system?

A: Responsibility accounting system: the responsibility accounting system is an internal system that…

Q: What is management's responsibility with respect to the financial statements?

A: Financial Statements: A financial statement is a complete record of the financial transactions that…

Q: How are the value chain and management accounting related?

A: Because you asked many questions, we will resolve the first one for you. Please mention the question…

Q: Describe a strategic-based responsibility accounting system. How does it differ fromactivity-based…

A: Responsibility accounting is a means of evaluating the performance of various divisions within an…

Q: what is creative accounting ?

A: Creative Accounting: It refers to those accounting practices which try to present company's…

Q: What is the difference between accounting and auditing?

A:

Q: what are some general management accounting issues?

A: Accounting is the language of business. It the art of recording the business transactions and…