Define management by exception.

Q: Explain consistency concept.

A: Consistency: Consistency principle emphasizes that companies should adhere to same accounting…

Q: Define value of operations, Vop

A: Definition: The Present Value of all future free cash flows which are discounted at the Weighted…

Q: Define control decisions.

A: Managerial accounting: Managerial accounting is a system, or a process of collecting and organizing,…

Q: Define Account class exercise

A: Account class is the term used in the accounting software where there is need to classify customer…

Q: Explain how an IT environment affects the segregation of functions.

A: Segregation of Duties (SoD) is a set of controls and policies intended to ensure accuracy and keep…

Q: Define Consistency.

A: Consistency is fundamental assumption of accounting. Consistency refers to once a company adopts…

Q: What is meant by the phrase management by exception?

A:

Q: Distinguish between narrow and wide span of control. Give an example of tasks appropriate to each…

A: Definition: Space of control: The number of subordinates directly answerable to the employee can…

Q: What is a user view?

A: Database Management:  Database management refers to management of databases held within an…

Q: Explain internal control. Suggest suitable system of internal control of CSD.

A: Internal control is the procedure, rules used by business in order to ensure the solidarity of the…

Q: Define statement of operations.

A: Financial statements of an organization includes income statement, balance sheet and cash flow…

Q: Define the term internal users.

A: Internal users are people within a business organization who use financial information. Examples of…

Q: Differentiate the following terms - External and internal information

A: Internal data is information generated from within the business, covering areas such as operations,…

Q: Define clientele effect

A: Clientele effect It clarifies the development in the stock cost of a firm as indicated by its…

Q: Define Reconciliation method

A: Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from…

Q: Define agency problems,

A: Agency problems occur when the managers use the firm's resources to invest in projects that may not…

Q: Define Recognition.

A:

Q: Describe the term CVP analysis.

A: Cost-Volume-Profit Analysis (CVP Analysis): CVP Analysis is a tool of cost accounting that…

Q: Define Contingencies.

A: Uncertain events refer to uncertainty regarding the occurrence of an event or the data values…

Q: Distinguish between AIS and MIS.

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: What is management by exception?

A: Management by Exception: Management by exception is one of the management styles where the…

Q: Define agent

A: Introduction: An agent is a party that has oral or written authority to perform for another…

Q: Managemer be obiect

A: True

Q: Explain discretionary access privileges.

A: In discretionary access privilege, the proprietor of the item indicates which subjects can get to…

Q: What is meant by the term management by exception?

A: Business Management:   Business management refers to the skills associated with running a company…

Q: Explain prudence concept with example.

A: Prudence principle- According to this concept, businesses should instantly recognize all future…

Q: What is an object, and what are its characteristics in the object-oriented approach? Give two…

A:

Q: Define the term external users.

A: An external user is a person outside of an organization who does not directly run its operations and…

Q: Describe EOQ decision model.

A: Economic order quantity (EOOJ: Economic order quantity is ideal order quantity that the company…

Q: what is Reference control ?

A: I assumed as a question, as what is meant by the reference  to cost control?

Q: Differentiate management control from joint control.

A: Control refers to the authority to make important decisions and rule other important activities of…

Q: Distinguish planning decisions from control decisions?

A: Decision Making: Management of the business has to make good decisions for the growth and success of…

Q: Explain how a Requirements Breakdown Structure (RBS) is typically constructed. What information does…

A: Necessities are conditions or assignments that should be tended to and finished to be acknowledged…

Q: Define Allocation method.

A: Allocation method: The allocation method is referred to as the method in which the allocation base…

Q: Describe internal event with example.

A: Definition:   Accounting event: An accounting event is a transaction that is recorded in the books…

Q: What is task-data dependency?

A: The lack of ability of a user to get additional data when their requirements fluctuate is known as…

Q: Differentiate AIS from MIS

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: Define call provision

A: The bonds refer to the debt securities that allow the issuer to raise capital from external sources,…

Q: Distinguish between object classes and instances.

A: Definition: Object: An object is the name of any item that represents two characteristics that are…

Q: Define Direct method

A: The Direct Method is Described Below -

Q: Define cardinality.

A: Cardinality: Cardinality refers to number of possible links of one table with another table.…

Q: Define controller

A: The controller generally reports to the chief financial officer of the company. In small companies,…

Q: Define Transaction exposure

A: Transaction exposure is the sensitivity of realized domestic currency values of the firm's…

Q: What information is required in a proxy statement?

A: A proxy statement is a document containing the information the Securities and Exchange Commission…