Managment Accounting
Management Accounting is defined as the measuring, analyzing the business transactions for organizations goal. Management accounting helps the manager to take decision within the organization. Management accounting is the combination of both financial and non-financial decisions making information’s to managers.
Financial Leverage Definition: Acquiring assets with funds that have been obtained from creditors or from preferred stockholders at a fixed rate of return. Recommended Books ! Or Download E accounting book in MS-word format for just 20 $ - Click here to Download
Financial Accounting Definition: Financial accounting is the phase of accounting concerned with providing information to stockholders, creditors, and others outside the organization. Relevant Terms: Cost Accounting Managerial/Management Accounting
Code of Conduct for Management Accountants: Learning objectives of this article: What are the standards of ethical conduct for practitioners of management accounting and financial management Practitioners of management accounting and financial management have an obligation to the public, their profession, the organization they
First in First Out-FIFO Method Definition: A method that operates under the assumption that the materials which are received first are issued first and, therefore, the flow of cost should be in the same order. Issues are priced at the same basis until the
Feedback Definition: Accounting and other reports that help managers monitor performance and focus on problems and/or opportunities that might otherwise go unnoticed.
External Failure Cost Definition: Costs that are incurred when a product or service that is defective is delivered to a customer.
External Environment Definition: Outside institutions or forces that potentially affect an organization’s performance.
Equivalent Units of Production Definition: The product of the number of partially completed units and their percentage of completion with respect to a particular cost. Equivalent units are the number of complete whole units one could obtain from the materials and effort contained in
Environmental Uncertainty Definition: The degree of change and degree of complexity in an organization’s environment.
Environmental Complexity Definition: The number of components in an organization’s environment and the extent of the organization’s knowledge about those components.
Entrepreneurship Definition: The process whereby an individual or group of individuals uses organized efforts to pursue opportunities to create value and grow by fulfilling wants and needs through innovation and uniqueness, no matter what resources the entrepreneur currently has.
Engineering Approach Definition: A detailed analysis of cost behavior based on an industrial engineer’s evaluation of the inputs that are required to carry out a particular activity and of the prices of those inputs.
Ending Finished Goods Inventory Budget Definition: A budget showing the dollar amount of cost expected to appear on the balance sheet for unsold units at the end of a period. Read full article about ending finished goods inventory budget.