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Essay

Management Accounting - Cost Classification

Essay specific features

 

Issue:

Business

 

Written by:

Audrey C

 

Date added:

May 3, 2014

 

Level:

University

 

Grade:

B

 

No of pages / words:

9 / 2247

 

Was viewed:

3802 times

 

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Essay content:

It is based within the organisation and is solely for the use of the managers to conduct their business dealings. The process of management accounting is proactive meaning the company is looking ahead, not backwards. Financial accounting on the other hand is externally based and is primarily concerned with the preparation of financial statements for organisations' stakeholders...
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Stakeholders would include shareholders and competitors. Unlike management accounting it has to comply with various financial legislations and standards. Financial accounting concerns using data from previous years which also means that the information which is used is generally out of date. 2. HOW ARE ALL THE COSTS CLASSIFIED? To classify costs would require a number of key terms to be defined; all of which should be understood fully in the concept of management accounting...
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