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Tradeoffs in assessing and utilizing cost accounting system

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What are the relative tradeoffs in assessing and utilizing cost accounting systems?

Why do these approaches to cost accounting differ among nations or do they?

How should companies approach the challenge of developing meaningful systems which are universally accepted?

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Your tutorial is 317 words and explains the typical reasons management systems differ and why they don't need to be made uniform.

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What are the relative tradeoffs in assessing and utilizing cost accounting systems?

Usually the decision about which cost system to use (job costing or process costing, traditional or activity-based costing, absorption or variable, standard costing or actual costing, flexible budgeting or static budgeting, decentralized performance monitoring or centralized performance monitoring, lean systems or formal traditional reports and so forth) are based on several things-the type of product, the perceived cost/benefit of the choices and management's culture.

If the product is customized or varied, job costing is usually ...

Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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