Cost Accounting Lecture 1

May 29th, 2015
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Murray State University
Course: general
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Measuring and reporting financial and other information relating to the organization’s acquisition or consumption of resources. It provides information for both managing and financial accounting.

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Cost AccountingLecture 1There are many definition of Cost Accounting. Two of which areMeasuring and reporting financial and other information relating to the organizations acquisition or consumption of resources. It provides information for both managing and financial accounting.The process of accounting for cost. It is the mechanism by which the cost of products or services are ascertained and controlled.Difference between Management Accounting and Financial AccountingFINANCIAL ACCOUNTINGMANAGERIAL ACCOUNTINGPrimary Users of ReportsExternal users, who are stockholders,

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