Differences of absorption and variable costing

Assignment Help C/C++ Programming

Reference no: EM13940018

Question 1

(a) Explain the differences of absorption and variable costing
(b) Discuss the advantages and disadvantages of absorption and marginal costing and what factors organisations are required to consider when using each of these methods
(c) Evaluate how organisations could use the above discussed methods within their operations and how they could impact on their business

Question 2
Accurately define and explain the relevance of each of the following concepts. Illustrate your answer with relevant examples of their use.
(a) Consistency concept
(b) Going Concern concept
(c) Prudence cost concept
(d) Accruals and prepayments

Reference no: EM13940018

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