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What types of cost information are reported to support managerial purposes and decisions? Describe 2 major categories of purposes that are supported by cost information.
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Costs are assigned to cost objects following generally accepted accounting principles (GAAP) so that general purpose financial statements can be prepared for external reporting. Many other types of cost information are developed to support internal decisions.
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Jun 14, 2019 · types of cost information need to be reported to support different managerial purposes and decisions. In a paper of 2–3 pages, discuss the following:•What types of cost information are reported to support managerial purposes and decisions?•Describe 2 major categories of purposes that are supported by cost information.•Describe how cost information …
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Apr 26, 2012 · What types of cost information are reported to support managerial purposes and decisions? Describe 2 major categories of purposes that are supported by cost information. Describe how cost information supports both of these categories. What is a cost object and how is it used by the management accountant? Explain how to arrive at the …5/5(5.5K)
https://yourbusiness.azcentral.com/importance-costing-managerial-decision-making-17281.html
Apr 13, 2018 · For example, variable costing systems seek to stabilize net income with regard to changes in production levels, so they do not assign all manufacturing costs to products. This method of costing may be useful for internal decision making, but would not be appropriate for external reporting.
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•What types of cost information are reported to support managerial purposes and decisions? •Describe 2 major. categories of purposes that are supported by cost information. •Describe how cost information supports both of these categories. •What is a cost object and how is it used by the management accountant?
https://quizlet.com/179845759/chapter-1-cost-accounting-ch1-flash-cards/
Start studying Chapter 1, Cost Accounting Ch.1. Learn vocabulary, terms, and more with flashcards, games, and other study tools. ... providing information that is intended primarily for use by internal management in decision making required to run the business. ... A cost concept used for the external reporting purpose of accounting may not be ...
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View Homework Help - d3.docx from BUSINESS P 1301 at Navarro College. Heather Hilliard Discussion 3 3/6/2018 What types of cost information are reported to support managerial purposes …
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Recording research costs as an expense for financial reporting purposes (as required by U.S. GAAP) but capitalizing and expensing them over a longer period for management performance evaluation purposes. a. cost-benefit approach b. behavioral and technical considerations c. different costs for different purposes;
https://www.researchgate.net/publication/227487376_The_importance_of_the_cost_information_in_making_decisions
The cost information system plays an important role in every organization within the decision-making process. An important task of management is …
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