‘Course outtine ow to access the prt? ances ea Asmara Wook 10 Download Videos ‘ext Warcorote ‘About the Course Ask 20. Assignment 1 ‘The de date forsubmiting thi asgnment hs posse Due on 2019-08-14, 23:59 IST, ‘As per ourrecores you have not submatoa ths essgnment +) Management Accounting a a branch of sosounting helps in management decision making: ‘Wit the Belp of information generated ons ov ‘With the belp of information generated with he help of Financial Accounting and Cost Accounting ‘No accountng infomation [With the Belp of information abou other firms inthe industry ‘Aesop Anewors Thth he help of tnformation generate withthe help of Financial Accounting amd Cost Accounting 2) Management Accounting a a branch of accounting came into being: Ate the great recession of 1930s ‘Aner intensifying the business competion during and ater 1950s [Afe the Finanial Accounting filed to answer the business challenges [Ae the Cost Accounting filed to answer the business challenges ‘Accents Anewes: ‘Mer sensing the business competition during and aftr 1950 8) Asa third branch of accounting after Financial Accounting & Cost Accounting, Management Aecouninggencats is own ‘quantitative information that helps businesses in relevant decisionmaking: Tre False May be Can't say te, anomeric. Accented Aree: Fake 49 Information generated by Management Accounting i lgey used for: Titeral decision making by the business fins Providing extemal stakeholders to know about the performance of business Providing to both intemal and external stakcholders, Providing tothe Govt. Authorities te, sneer inincoe Accents Aree: ‘tena denon making by the business frms ©) GAAP isusedto generate the rlevat information under Manageiet Accounting True False May be can tsay t,t anor isincore. Accepts Aree: Foalee 16) The major contents of Management Accounting ar: Full ost socouning, diteretalascounting & responsibiliy accounting Full cost seouming & differential accounting Full cost scounting, differential ascoumting & financial acenunting Financial accounting & cost accounting on reer cat, Accept newer: Foleo accounting, differential accounting & responsibil accounting 2 ‘The major basis of decision making under cost accounting are: Cost and bene Cost and price (Cost and profits (Cost nd loss yo anova comet ‘conte Arewors Costand bones 1 Any concep is adopted for decision making under Management Accounting when: Cox is more tha the benefits ‘Benet ae mare than th cost ‘When benefits and cost are equal ‘There isn relationship between benefits & cost ne newer incomet. ‘copie Arewors ‘Bonefis are mre than the cost 8) When the cost of adopting any concept is more than its benefits, businesses are expe to: Adopt ihe concep: Seek the alternatives Tnmprove the concept Forget the eoncepe ‘copie Arewors ‘Sokohe alternatives 1) The concept of decision making rigorously used under menggement account may be defined as: 113s the purposeful choice fom among asc of alicmative courses of action designed to ahicve some objective. tis the purposeful decision from among a set of elterative courses of plans designed to achieve some objective. It's the random choice amongst the given allematives to achieve the trpet teat be defined in any possible and objective manner ‘Aesop Anewor isthe purposeful choice from among ase of alternative courses of action designed fo ‘achiove some abjectve +) Budgets use as too of planning in business organisation may be define as: ‘Avbudgt is quantatve expression ofa plan of action and is an sid to coordinating and implementing the pln ‘Budgets are the hie devices for compeling and disciplining management planing. ‘Budgets are never vse for any planning process Bath ab ‘Acenteg Ares: Bonakb 12) The chief relationship betwsen planning and controling is Any business act begin with planning and ends with controling ‘Any business at begins wit controling and ends with planing Planning & controling have no relationship Planning exists without comroling oe anaweris inate Seon Aecentes Aree: “Any Dain act begins with planning and end with eontroling 1 point + pom pom pom pom 10m 1 point 1 point 1 point