what is the relationships between statistics and accounting
What is the Important of statistics to Accounting?
relation between accounting and statistics is:it helps in the rational [true} decision making. statistics is concerned with typical value, behaviour or trend over a period of time of series of observations. statistics are useful in developing accounting data and their interpretation
statistics and accounting both are very similar to each other regarding their uses, because both are tools of decision making. To take decision regarding average, standard and marginal you have to take help from statistics even if you are accountant.
Statistics is needed for accounting if you become an auditor. As an auditor you need to essentially test a company's financial records and, since it's impractical to go through absolutely everything, you need to pick a sample size that will give you a result at a certain confidence level.
scope of accounting with answer some points?
scope and lim;tation of statics
what is the relationships between statistics and accounting
difine the nature and scope of management accounting?
Statistics play a very vital role in accounting. They help in the interpretation of data which is crucial for making proper accounting decisions.
What is the Important of statistics to Accounting?
relation between accounting and statistics is:it helps in the rational [true} decision making. statistics is concerned with typical value, behaviour or trend over a period of time of series of observations. statistics are useful in developing accounting data and their interpretation
Statistics are used in accounting to track expenses and assets. It is also used in bookkeeping and preparing income taxes.
scope of accounting?
What is management accounting ?Explain the nature and scope of management accounting management accounting is a part of accounting which is used for decision making lik in the organisation these decision makers prepare cash flow statement wich helps in forcasting the future profit of the organisation
The scope of managerial accounting focuses on the financial aspects of the organization. This will include proper record keeping, balancing records and so much more.
Statistics is analyzing numbers. Businesses use statistics so that they can determine the best way to approach various aspects of business.