Summaries the main activities of management accountants.
Answer to relevant QuestionsExplain how the role of management accounting has changed over the last 100 years. For each of the following transactions, identify whether there is an increase or decrease in profit, cash flow, assets or liabilities: A company pays its insurance policy for the calendar year of £78,000 on 1st January. On 31st March, what is the impact on the Income Statement, Balance Sheet and Cash Flow? Calculate the days’ sales outstanding, stock turn, days’ stock held and days’ purchases outstanding. Calculate: • The total job cost and the cost per table • The cost of sales • The value of inventory • The gross profit for the tables that were sold
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