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Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented.
A primary task of management accounting in supply chains is performance measurement. The key elements of strategic goals include the measurement of resources, output and flexibility. [9] Efficient resource management is critical to profitability; without an acceptable output, customers will turn to other supply chains.
Management accounting principles (MAP) were developed to serve the core needs of internal management to improve decision support objectives, internal business processes, resource application, customer value, and capacity utilization needed to achieve corporate goals in an optimal manner.
Alternatives to traditional cost accounting have been proposed by various management theorists. These include: Throughput accounting, under the Theory of Constraints, under which only totally variable costs are included in cost of goods sold and inventory is treated as investment.
Gross sales are the sum of all sales during a time period. Net sales are gross sales minus sales returns, sales allowances, and sales discounts. Gross sales do not normally appear on an income statement. The sales figures reported on an income statement are net sales. [4] sales returns are refunds to customers for returned merchandise / credit ...
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. [1] Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees. [2] "
Examples of common financial accounts are sales, accounts [1] receivable, mortgages, loans, PP&E, common stock, sales, services, wages and payroll. A chart of accounts provides a listing of all financial accounts used by particular business, organization, or government agency.
An account manager (AM) is a person who works for a company and is responsible for the management of sales and relationships with particular customers.An account manager maintains the company's existing relationships with a client or group of clients, so that they will continue using the company for business.