Chapter 1 - Cost Accounting Foundations and Evolutions...

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Chapter 1 Introduction to Cost Accounting Cost Accounting Foundations and Evolutions Kinney, Prather, Raiborn
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Learning Objectives (1 of 2) Describe the relationships among financial, management, and cost accounting Identify two common organizational strategies Describe the value chain and the major value chain functions
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Learning Objectives (2 of 2) Explain why accountants must understand the organization’s structure in order to perform effectively Identify the sources of ethical standards for cost accountants
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Two Types of Accounting Financial Meet external information needs Comply with GAAP Management Meet internal information needs Does not have to comply with GAAP
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Accounting Differences Financial External focus Whole organization Historical Quantitative Monetary Verifiable GAAP Formal recordkeeping
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Accounting Differences Financial External focus Whole organization Historical Quantitative Monetary
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This note was uploaded on 03/23/2010 for the course ACC_ 03 taught by Professor Zeegal during the Fall '10 term at Missouri State University-Springfield.

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Chapter 1 - Cost Accounting Foundations and Evolutions...

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