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Identify the different types of business firms

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Problem 1: Identify the different types of business firms and other organizations that use cost management information and explain how the information is used.

Problem 2: The owner of a small software company felt his accounting system was useless. He stated, "accounting systems only generate historical costs. Historical costs are useless in my business because everything changes so rapidly."

a. Are historical costs useless in rapidly changing environments? Explain.

b. Should accounting systems be limited to historical costs? Explain.

Problem 3: How do management accountants support strategic decisions?

Problem 4: Define strategic cost management.

Reference no: EM132793297

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