Cost Accounting vs. Financial Accounting . Financial and cost accounting systems have different target audiences. Financial accounting is prepared for the company's shareholders, lenders, and ...

Cost accounting can also help a company streamline its production process to reduce costs and return a greater profit on individual product sales. Advertisement Article continues below this ad ...

Compared to standard cost accounting, ABC dives deeper into the cost of manufacturing a product or providing a service. It can help explain which activities increase production costs. Marginal ...

Cost Accounting. Cost accounting is a business tool used by management to evaluate production costs, prepare budgets, and take appropriate cost control measures to improve the company's profit ...

Managerial accounting dissects costs, analyzes production efficiency, forecasts outcomes of potential decisions, and tracks performance against goals, all to address specific management questions ...

Direct labor rates are the labor costs directly resulting in the production of a product or delivery of a service. These costs include wages, payroll taxes, insurance, retirement matches, and ...