TAKEAWAYS IMPORTANT

 Internally, management uses cost accounting to make fully

informed business decisions.
 Cost accounting, unlike financial accounting, which gives
information to external financial statement consumers, is not
bound by set standards and can be flexible to match management's
needs.
 Cost accounting takes into account all production-related input
costs, both variable and fixed.
 Standard costing, activity-based costing, lean accounting, and

m
er as
marginal costing are all examples of cost accounting.

co
eH w
o.
rs e
ou urc
o
aC s
vi y re
ed d
ar stu
is
Th
sh

This study source was downloaded by 100000816758676 from CourseHero.com on 10-06-2021 05:54:15 GMT -05:00

https://www.coursehero.com/file/107147587/TAKEAWAYS-IMPORTANTdocx/
Powered by TCPDF (www.tcpdf.org)