Cost Management: A Strategic Emphasis 5th Edition by David Stout, Edward Blocher, Gary Cokins

Exercise 20

Cost management information should be timely and accurate. Which of these attributes is most important? Why?

Step 1 of 5

Basically, there are two types of accounting that is coat and financial. Both have different significance in the field of accounting. But out of which cost accounting plays an important role in the pricing of the product, and helpful in various planning and strategies for the decision making process. Accurate and timely report set the way for the firm and this could help in various way to the organization regarding decision of cost of product, pricing decision, inventory decision, and balance sheet impact and so on.