Web Chapter 18 - Managerial Accounting Concepts and...

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Managerial Accounting  Managerial Accounting  Concepts and Principles Concepts and Principles Chapter 18 Chapter 18
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Financial Accounting Managerial Accounting 1. Users and Investors, creditors and Managers, employees and decision makers other external users other internal users 2. Purpose of Making investment, credit Planning and information and other decisions control decisions 3. Flexibility Structured and often Relatively flexible of practice controlled by GAAP (no GAAP) 4. Timeliness of Often available only Available quickly without information after audit is complete need to wait for audit 5. Time dimension Historical information Many projections with some predictions and estimates 6. Focus of Emphasis on Projects, processes and information whole organization segments of an organization 7. Nature of Monetary Monetary and information information nonmonetary information Nature of Accounting Nature of Accounting
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Classification of Costs Classification of Costs By Behavior
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