In addition he estimates that fixed costs will be 60,000 for the year. In a large institution the roles of the financial accountant and the management accountant may be quite different. List four roles specific to the management accountant and four roles specific to the financial accountant. A provision, either specific or general made to cover the possibility that certain debtors may not pay. It is an application of the prudence concept.
Current liabilities Gives some indication of a business ability to repay creditors.