unit9 Archives - Essay Prowess
August 14, 2020

Regent College Unit 9 Management Accounting: Costing and Budgeting

Unit 9 Management Accounting: Costing and Budgeting Sample Report Part A Task LO 1.1 Cost classification         Budgeting and Costing are inseparable aspects of management accounting. This is brought by the function each plays where us budgeting is a plan in quantitative terms or units to be achieved within the specified period costs are the actual units making up a budget. Cost is the economic sacrifice made to achieve and organisation goal. For products cost entails the monetary measurement of materials, labour and overhead expense applied to produce it while for a service is the monetary sacrifice incurred to provide it. […]