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Financial
Information
Accounting
Systems
Introduction
to Cost Accounting
Cost
definition
Use of Costs
Classification
of Costs
Inventory
Valuation
Costs Behavior
Cost Accounting
Systems
Standard Costs
and Variances
Cost-Volume-Profit
Analysis
Break-Even
Point
Target
Profit
Budgeting
Master
Budget
Activity
Based Costing (ABC)
Transfer
Prices
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DEFINITION:
It is the set of data which is
used to determine the heritage or the outcome of the operation of any
business.
.
CLIENTS
(USERS) OF THE FINANCIAL INFORMATION AND THEIR NEEDS
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CLIENT (USER)
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NEEDS
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QUALITY CRITERIA
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IRS
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Having a base to raise money for the upkeep of public
expenditure. Check whether the amounts received are correct.
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IRS procedures and norms |
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Administrator
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- Define alternatives
- Planning
- Costing
- Controlling
- Evaluate
- Etc. |
The information must be tailored to match the needs. |
Shareholders and other funding sources
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- Evaluate the administration quality
- Payment capacity
- Profitability
- Potential to generate cash
- Etc. |
GAAP
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