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Standard Costing And Variance Analysis
STANDARD COSTING AND VARIANCE ANALYSIS Standard costing and Variance Analysis Budgetary control is concerned with comparison of estimated and actual results of a department, company or country. Standard costing is concerned with comparison of estimated and actual results of manufacturing a product or providing a service. Budgetary control is concerned with the organization as a whole while standard costing is concerned with one unit of production or service.
- Class notes
- • 19 pages •
STANDARD COSTING AND VARIANCE ANALYSIS Standard costing and Variance Analysis Budgetary control is concerned with comparison of estimated and actual results of a department, company or country. Standard costing is concerned with comparison of estimated and actual results of manufacturing a product or providing a service. Budgetary control is concerned with the organization as a whole while standard costing is concerned with one unit of production or service.
Management Accounting
RESPONSIBILITY ACCOUNTING Characteristics of Responsibility Accounting Definition. An accounting system that collects, summarizes, and reports accounting data relating to the responsibilities of individual managers. An accounting system which tracks and reports, costs, expenses, revenues, and operational statistics by area of responsibility or organizations.
- Summary
- • 12 pages •
RESPONSIBILITY ACCOUNTING Characteristics of Responsibility Accounting Definition. An accounting system that collects, summarizes, and reports accounting data relating to the responsibilities of individual managers. An accounting system which tracks and reports, costs, expenses, revenues, and operational statistics by area of responsibility or organizations.