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The difference is as follows: Management Accounting is primarily concerned with the collection, analysis and utilisation of internal data for the purposes of managerial decision making. These decisions ar...

In the reducing balance depreciation you have to deduct a same percentage from the carrying amount (historical cost of the asset - accumulated depreciation) of the asset each year. For example, cost of ma...

Accounting is based on the double entry principle. This principle states that for every credit entry there must be a corresponding debit entry. This means that everything must balance out.Think of an acco...

Revenue expenditure is monies spent on the day-to-day running of a business whereas capital expenditure is monies spent on the purchase of or addition to a non-current asset. The cost of revenue expenditu...

Assets = Capital + Liabilities Capital = Assests - Liabilities Liabilities = Capital - Assets