This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: i. Accurate 1. Not precision ii. Timely 1. Available when needed iii. Useful 1. Only what is needed c. Cost object i. Anything for which you want cost info 1. Activity, department, customers, products d. Direct v indirect costs i. Direct 1. Easily observed ii. Indirect 1. Not easily observed, often shared with other cost objects III. Product Costs v Period Costs (organizing cost info by function) a. Function i. What the cost is for b. Product costs are inventoriable i. Recorded as inventory until the product is sold...
View Full Document
This note was uploaded on 04/18/2011 for the course BUS 203 taught by Professor Keenan during the Winter '09 term at Indiana.
- Winter '09