Full Costing and Variable Costing

Full Costing and Variable Costing Essay example
Masters
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Finance & Accounting
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Full Costing and Variable Costing Customer name Course Instructor Date Contents Full Costing and Variable Costing 1 Customer name 1 Course 1 Instructor 1 Date 1 Contents 2 Executive Summary 3 Main Findings 4 Direct Costs 5 Indirect Costs 6 Full Costing 6 Variable Costing 7 Summary of Full Costing and Variable Costing Components 8 Making a choice between the two 9 Conclusion and Recommendations 10 References 12 Accounting for Management, 2011…

Introduction

Cost Accounting: A 12 Managerial Emphasis. 12th ed. Prentice Hall. 12 Elliott Taylor, 2011. Full-Costing Income Statement vs. Variable-Costing Income Statement. [online] Available at < http://smallbusiness.chron.com/fullcosting-income-statement-vs-variablecosting-income-statement-20350.html > [Accessed 25 December 2011] 13 Jae Shim, Joe Seigel, 2011. Schaum's Outline of Managerial Accounting. 2nd ed. McGraw-Hill. 13 John Simms, 2008. The Variable Costing Income Statement for External Reporting. VDM Verlag. 13 Noah P. Barsky, Anthony H. Catanach, 2004. Management Accounting: A Business Planning Approach. South-Western College Pub. 14 Steven M. Bragg, 2011. Cost Accounting Fundamentals: Essential Concepts and Examples. 2nd ed. Accounting Tools. 14 Executive Summary Full Costing and Variable Costing are two common approaches to cost keeping employed at the management accounting level in various firms across the globe. Both approaches have their pros and cons and making a choice between the two is solely dependent upon the practices of the firm, its approach to create shareholder value and the mindset of its employees. In terms of the treatment of different types of cost, there is only one difference between the two approaches under consideration. ...
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