reading, solution

reading, solution - David Franz, 2012 Chapter 1 - The...

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Chapter 1 - The Manager and Management Accounting I. Cost accounting A. Cost accounting measures, analyzes, and reports financial and nonfinancial information relating to the costs of acquiring or using resources in an organization. Cost accounting is part management accounting and part financial accounting. B. Financial Accounting and Management Accounting differ in their a)time-orientation and b) target users. C. Financial accounting has one group that pays the costs and a second group that receives the benefits. FASB exists to resolve the disagreements between these two groups. D. Management accounting has one group that pays the costs and also receives the benefits so there is no equivalent to the FASB in management accounting. See Exhibit 1-1, p. 4. E. Cost management describes the approaches and activities of managers to use resources to increase value to customers and to achieve organizational goals. II.
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This note was uploaded on 09/29/2011 for the course ACCT 305 taught by Professor Franz during the Spring '07 term at S.F. State.

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reading, solution - David Franz, 2012 Chapter 1 - The...

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