ch 10 accounting
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7 Terms
financial accounting
external, highly aggregated, regulated, financial information, historically based, reporting periodically
managerial accounting
internal, disaggregated, unregulated, financial and nonfinancial information, oriented to present and future, continuous reporting
manufacturing big 3
direct materials, direct labor, manufacturing overhead
product costs
direct materials, direct manufacturing, and manufacturing overhead, (traced directly back to product in some way)
period cost
all selling and administrative costs
5 ethical practices
competence, confidentiality, integrity, credibility, resolution of ethical conflict
COGS
COGS= cost of goods available for sale (minus) ending finished goods
Note 
Flashcards (46)