• The installation of management accounting system requires heavy costs on account of an elaborate organization and numerous rules and regulations.
• Management accounting is only a tool for accounting but cannot take full responsibility for the management of an organization
• The conclusions draw by the management accountant are not executed automatically. The management accountant has to convince people at all levels.
• Management accounting derives its information from financial accounting, cost accounting and other records therefore their limitations are also the limitations of management accounting.
• Management accounting has a very wide scope incorporating many disciplines. It considers both monetary as well as non-monetary factors. This all brings inexactness and subjectivity in the conclusions obtained through it.
skilled writter answered the question on April 24, 2018 at 18:43
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Date posted:
April 24, 2018
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April 14, 2018
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(a) Define the term recurring audit (b) State the circumstance under which the auditor may send a new engagement letter to the existing ...
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April 14, 2018
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March 30, 2018
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March 28, 2018
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John Mutiso bought shares of Sh.2 million six months ago in Kenya Company Limited which has since gone into liquidation. He intends to sue...
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Required:
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Date posted:
March 28, 2018
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Date posted:
March 23, 2018
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Date posted:
March 22, 2018
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(Solved)
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Date posted:
March 22, 2018
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(Solved)
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Date posted:
March 22, 2018
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Date posted:
March 22, 2018
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(Solved)
What are the similarities between internal and external audits?
Date posted:
March 22, 2018
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Date posted:
March 22, 2018
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(Solved)
Discuss the 4 main methods of determining depreciation.
Date posted:
March 22, 2018
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(Solved)
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Date posted:
March 21, 2018
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Answers (1)
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“Action must be specifically taken to prevent the occurrence of frauds involving the assets of the company”, Finance Director of Food All Limited addressing accounting...
(Solved)
“Action must be specifically taken to prevent the occurrence of frauds involving the assets of the company”, Finance Director of Food All Limited addressing accounting staff of the company. Of particular interest to the directors are:
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Required:
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Date posted:
March 16, 2018
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Answers (1)
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The Companies Act (Cap.486) sets out the duties of the auditors for a company in respect of his report and other matters.
Required:
a. State four situations under...
(Solved)
The Companies Act (Cap.486) sets out the duties of the auditors for a company in respect of his report and other matters.
Required:
a. State four situations under which the Act requires auditors to qualify their report.
b. State two circumstances in which the auditors may qualify their report owing to inherent uncertainty.
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Date posted:
March 16, 2018
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Answers (1)
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The principle objective of the verification of liabilities, commitments and contingencies is to form an opinion as to their completeness, existence, valuation and presentation in...
(Solved)
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Required:
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Date posted:
March 16, 2018
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Answers (1)