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Guiding Managerial Choices Through Cost Accounting Principles
December 15, 2023
What are the principles of cost accounting that guide managerial decisions?
Cost accounting principles like causality, cost behavior analysis, and relevance guide managerial decisions. Causality ensures costs are tied to activities or products, while understanding cost behavior over various activities aids in decision-making. Additionally, relevance focuses on using only pertinent information for decisions, ensuring accuracy and effectiveness.
Tags : Cost Accounting , Managerial Decisions , PrinciplesAccounting Standards for Noncurrent Assets
December 17, 2023
What are the accounting principles governing noncurrent assets?
Noncurrent assets are governed by accounting principles such as historical cost, matching principle, and the principle of conservatism. These principles guide the initial recognition, subsequent measurement, depreciation, impairment assessment, and disclosure of noncurrent assets in financial statements.
Tags : Noncurrent Assets , Accounting Standards , Principles