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What difference between cost and costing?
difference between cost and costing
Distinguish between costing and cost accounting?
Cost accounting is the process of using alternative courses after collecting, analyzing, and summarizing data. Costing is what the price of something will be.
What is the difference between cost and managerial accounting?
The key difference between managerial and financial accounting is that managerial accounting information is aimed at helping managers within the organization make decisions. In contrast, financial accounting is aimed at providing information to parties outside the organization. Improvement: Cost account is a major area of managerial accounting. Cost is also a internal Issue.
What is the difference between Actual costing and normal costing?
actual costing uses actual indirect-cost rates normal costing uses budgeted indirect-cost rates
What is difference between Direct Cost and Direct Costing?
Direct cost is cost of product while direct costing is the process which study or accounts the direct cost allocation to products.
What is the difference between over costing under costing?
Over costing means charging more costs to items than it's actual cost while under costing means charging less cost then actual costs.
What does the process of job costing mean in terms of business?
Job costing or as some may know it, Job order costing is fundamental to managerial accounting. It differs from Process costing in that flow of cost is tracked by job but not a process. The main difference is that Job costing is in the nature of jobs/work and process costing in a process.
Difference between direct cost and direct costing?
Direct cost is that cost which is directly identifiable with production volume while direct costing is the method or process through which direct cost is allocated to production.
What are the difference between cost accounting and financial accounting?
Prime role of cost accounting is to calculate the cost per unit of product produce while financial accounting deals with financial reporting of company's performance.
Activity-based costing is a means of more accurately accounting for direct labor cost?
False. Activity-based costing is used to allocate indirect cost into direct costs.Regardng direct cost, traditional costing is as appropriate as activity-based costing.
Difference between marginal cost accounting statements and absorption cost accounting statement?
marginal costing considers only direct) materials,labour,expenses and variable factory overheads excluding fixed factory overheads but absorption considers (direct) materials ,labour,expenses,variable and fixed factory overheads.
What is difference between management account and cost account?
Management accounting is use for internal accounting purpose of business management while cost accounting is use to find out the per unit cost of production.
