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MANAGEMENT ACCOUNTING PROCESS The management accounting process begins with identification, measurement and accumulation of relevant data from financial and cost accounting records, and also from other external sources. The data is then regrouped, classified and analysed. The interpretations are made and information is communicated to internal and external users of such information for making decisions….
FUNCTIONS OF MANAGEMENT ACCOUNTING Management accounting is a part of accounting. It has developed out of the need for making more and more use of accounting for taking managerial decisions. Management accounting is assigned the functions of classifying presenting and interpreting data in such a way that it helps management in controlling and running the…
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EMERGENCE OF MANAGEMENT ACCOUNTING – HISTORICAL PERSPECTIVE Management Accounting is comprised of two words ‘Management” and “Accounting. It is the study of managerial aspect of accounting. The emphasis of management accounting is to redesign accounting in such a way that it is helpful to the management in formation of policy, control of execution and appreciation…
Definition of Management Accounting by Different Authors ACCORDING TO THE ANGLO-AMERICAN COUNCIL ON PRODUCTIVITY “Management Accounting is the presentation of accounting information in such ways as to assist management in the creation of policy and the day-to-day operation of an undertaking.” Management accounting deals with the presentation of information so that it is helpful to…
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QUESTION: What do you mean by auditing? Discuss Objectives of Auditing. AUDITING: Auditing refers to the verification of financial records by an authority known as an auditor. The word ‘audit’ is derived from the Latin word ‘audire’ which means to hear. It is the examination of accounts to ascertain whether the balance sheet and profit…
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CONSUMER MOTIVATION AND SATISFACTION RELATIONSHIP Consumer motivation and satisfaction are fundamental concepts that play a pivotal role in understanding consumer behavior and the dynamics of their purchasing decisions. Motivation drives individuals to take action, seeking products or services that fulfill their specific needs and desires. On the other hand, consumer satisfaction reflects the extent to…
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ELEMENTS OF MOTIVATION IN CONSUMER BEHAVIOUR Motivation is reflection of a person’s desire to fulfill certain needs. It is the driving force within individuals which impels them to action and that force is known as “motive”. Motive may be viewed as “inner force and state of mind” which directs the human activities. Needs are the…
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MOTIVATION IN CONSUMER BEHAVIOR Motivation is reflection of a person’s desire to fulfill certain needs. It is the driving force within individuals which impels them to action and that force is known as “motive”. Motive may be viewed as “inner force and state of mind” which directs the human activities. Needs are the basis of…
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RELUCTANCE TO USE SCIENTIFIC APPROACH IN STUDYING CONSUMER BEHAVIOR While the scientific approach is widely recognized as an effective method for studying consumer behavior, marketing managers and other executives may sometimes exhibit reluctance to fully embrace this approach. Several reasons can contribute to their hesitation: Time and resource constraints Time and resource constraints are a…
INTUITION AND SCIENTIFIC METHODS OF DECISION MAKING INTUITION METHODS OF DECISION MAKING Intuition, often referred to as intuitive decision-making, is a form of decision-making that relies on immediate insights, gut feelings, or unconscious knowledge rather than a deliberate, analytical process. While it may seem less structured compared to the scientific approach, intuition can be a…
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