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What differentiates management accounting from financial accounting?

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 are c...
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Answered by Samuel W. • Accounting tutor
2078 Views

how to calculate reducing balance depreciation, provide an example.

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 machi...
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Answered by Bushra B. • Accounting tutor
3324 Views

What is Accounting Based on?

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 account...
BK
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What is the difference between capital expenditure and revenue expenditure?

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 expenditure ...
CW
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List three ways in which the accounting equation can be written.

Assets = Capital + Liabilities Capital = Assests - Liabilities Liabilities = Capital - Assets
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Answered by Raya R. • Accounting tutor
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