02 Cost Accumulation Flashcards
1
Q
How to classify costs?
A
2
Q
What is the time horizon of cost measures?
A
3
Q
What are the potential costs and benefits of converging financial and managerial accounting?
A
4
Q
How does the sum-of-years-digits depreciation method work?
A
(Remaining useful life) / (Sum of remaining useful life of each year)
5
Q
How does the declining balance depreciation method work?
A
6
Q
How does periodic Lifo work?
A
- Sum up all sales/uses of the period
- Go from most recent purchase backwards until demand is fulfilled
7
Q
How does permanent Lifo work?
A
8
Q
How does periodic weighted average work?
A
9
Q
How does the permanent weighted average work?
A
