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Cost Accounting - Coggle Diagram
Cost Accounting
Cost
Opportunity Cost
Expired cost
Cost objects
Activity
Accuracy
Traceability
Direct costs
Indirect costs
Methods of tracing
Direct tracing
Drivers
Allocation
Output
Tangible products
Services
Intangibility
Perishability
Inseparability
Heterogeneity
Product Cost
Production costs
Direct materials
Direct labor
Overhead
Nonproduction costs
Prime and conversion costs
Prime cost
Conversion cost
Selling and administrative costs
Noninventoriable costs
Marketing costs
Administrative costs
External Financial Statements
Income Statement (Manufacturing Firm)
Absorption costing income
Cost of goods sold
Cost of goods manufactured
Work in Process
Income Statement: Service Organization
Management Accounting Systems
Functional-based
Unit-based drivers
Allocation intensive
Narrow and rigid product costing
Managing costs
Sparse activity infomation
Maximization of individual unit performance
Use of financial measures
Activity-based
Unit-based and non-unit baseddrivers
Tracing intensive
Broad ad flexible product costing
Managing activities
Detailed activity infomation
Systemwide performance maximization
Use of financial and non-financial measures