Product Costing – Methods

One of the primary areas of management accounting is computing the cost of products manufactured / services provided. The following are two broad methods used for product cost computation: a) Job Costing b) Process Costing Job costing is used in industries which make products for customer specific orders. Each job is separate and independent with […]

Decision Making

Decision making is a key function of managers which involves choosing between alternatives. There are various types of decisions faced by managers. Below are a few examples a) Make or buy a product b) Accept or reject an order c) Shutdown or continue operations of a plant d) Introduce a new product or not   […]