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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.
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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?
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Relevant range of activity?
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predictive and feedback and timing
In order to be relevant accounting information must be?
Timely and accurate.
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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?
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Managerial accounting mostly concerns the use of accounting information to business managers so they can make better informed financial decisions about the company. This is relevant to all accounting majors and their future careers, because even if they do not intend to enter a management position, they need to know how to relay this information to various management positions.
