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Disciplines Involved in Management Accounting The indicate subject of and Accounting involves multiple sub-categories that are a just to be studied in detail before taking up any topic related to assignment. Is regarded as a practice which helps in feeding information in the financial information system which is prepared to deliver information as required by the company management. Also, it is defined as a set of ways and techniques which are targeted aimed at offering the managers to improve efficiency to take crucial decisions and to imply effective control on the overall corporate resources. In order to accounting, it is important to clearly explain the inter-woven topics along with defining with concepts and approach that can be applied in practical applications. Some of the core study areas related to Management Accounting are listed below: • Cost Volume Profit – It is an important rule which holds the crux in the cost accounting. It needs to be studied to understand the model that is beneficial for taking short-term purpose decisions.
• Generally Accepted Accounting Principles (GAAP) – This is concerned with standard framework of guidelines that are implemented in varied situations also known as Accounting Standards. It involves norms, standards, and the rules that are to be adhered by the accountant. • Margin of Safety – It is termed as the margin that is set between actual cost of a stock and its set market price. • Contribution Margin Method – It is also known as the pricing strategy that helps in maximizing the profit that is attained from an item or a given service. • Cost Drivers – This topic involves study of factor which results in change in the price of any listed activity.
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