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FCMA Most Repeated Question (ICMAP) Part no. 2 6 дней назад


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FCMA Most Repeated Question (ICMAP) Part no. 2

Cost accounting is a managerial accounting method focused on capturing, analyzing, and managing the costs associated with a company's operations. It categorizes costs into fixed, variable, and semi-variable types, allowing for detailed cost behavior analysis and effective budgeting. Key practices include cost allocation to determine the true cost of products, standard costing to set and compare expected costs, and variance analysis to identify discrepancies between budgeted and actual costs. By employing job order or process costing methods, organizations can gain insights into production efficiency and profitability, ultimately aiding in informed decision-making and strategic planning. #CostAccounting #AccountingMCQs #FinanceQuestions #ManagementAccounting #CostControl #mcqsofaccounting

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