In management accounting, an emphasis and focus must be __________?
Correct answer: A. future oriented
- A. future oriented
- B. past oriented
- C. communication oriented
- D. bank oriented
Explanation
Management accounting is future-oriented because managers use forecasts, budgets, and relevant cost information to plan and make decisions. Financial accounting is more strongly concerned with reporting past transactions.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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