(Management Accounting Techniques, 1994, page 2). Direct labour costs are established by measuring the time taken for a job to be completed. In the past direct labour costs have been restricted to wage-earning factory workers, but in recent years, with the development of systems for costing services (service costing), the costs of some salaried staff might also be treated as a direct labour costs...
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This depends on what are been costed. Indirect costs are those that cannot be identified with, or traced to the end product and include the following: scrap material (indirect material): the salaries of factory supervisors (indirect labour): rent, rate and depreciation (indirect expenses). Indirect costs are often called overheads...
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What is Management Accounting? One more difference is that financial accounting has a less flexible time span on their reports and management accounting has total flexibility on theirs...	1 / 272
Cost accounting On the other hand, cost accounting is limited predominantly to use within the company to aid management in the process of making choices that will benefit the stockholders by maximizing company profits that translate into maximizing stockholder wealth...	1 / 160
The Differences Between Financial Accounting And Management Accounting They also use non-financial information about the company, such as customer satisfaction levels and competitor data. Internal users focus on detailed information that reveals the performance of particular subunits of the company, such as divisions or departments...	1 / 259
Teacher Managerial accounting is concerned with providing information to managers—that is, to those who are inside an organization and who direct and control its operations...	1 / 265