COST ACCOUNTING MCQ HOMEWORK - Essay Paper Answers.
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Cost; The cost principle is the idea that a business should only record its assets, liabilities, and equity investments at their original purchase costs. However, this principle is becoming less valid due to the fact that a number of accounting standards are adjusting assets and liabilities to their fair market values. Economic Entity; The economic entity principle is the concept that the.
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Managerial and Cost Accounting 9 Introduction to Managerial Accounting Introduction to Managerial Accounting Part 1 Your goals for this managerial accounting introduction chapter are to learn about: x The distinguishing characteristics of managerial accounting. x The role of managerial accounting in support of planning, directing, and controlling.
Unit - 1: Introduction to Cost Accounting Structure of Unit: 1.0 Objectives 1.1 Introduction 1.2 Branches of Accounting 1.3 Emergence of Cost Accounting 1.4 Nature 1.5 Advantages 1.6 Importance 1.7 Installation of Cost Accounting System 1.8 Essential of a Good Cost Accounting System 1.9 Methods 1.10 Techniques 1.11 Cost Accounting vs. Financial Accounting 1.12 Limitations of Cost Accounting 1.