STANDARD COST ACCOUNTING AND DEVIATION ANALYSIS

Abstract

In accordance with international standards, it is customary to distinguish between financial and managerial accounting. Financial accounting covers information that is used mainly by third-party organizations and individuals (shareholders, banks, tax authorities, etc.), and is also used for internal management. Management accounting covers all types of accounting information necessary for management within a given enterprise (firm). Its most important function is to substantiate the management decision-making process. Management accounting information can be presented both in monetary and physical terms, approximate and approximate estimates are acceptable in it, in particular when developing plans for the future. Detailed, detailed reports in management accounting can be compiled monthly, and for certain types of activities, responsibility centers - weekly, daily, and in some cases - immediately.