Management Accounting (users)

Taxation (users)

What are the 4 branches of accounting?

What are the 3 cost management techniques?

Financial Accounting (time focus)

Financial Accounting (users)

It talks about the quality of the peoduct/services. It is a continual process of detecting and reducing errors.

Auditing (time focus)

It is a japanese business philosophy which means continuous improvement. It is concerns with the processes that continuously improve operations and involve all employees.

It remains constant regardless of activity

Taxation (time focus)

Auditing (product)

2 Classification of cost as to nature.

2 classfication of cost as to behavior

Taxation (basis)

Auditing (users)

Management accounting (position)

Financial Accounting (product)

Financial Accounting (basis)

Management Accounting (time focus)

Financial accounting (position)

Auditing (position)

Taxation (position)

It varies directly proportional

Inventory system which aligns raw materials order for suppliers directly with production schedules.

Inventoriable/ capitalizable (Includes Direct material, Direct labor and factory overhead)

Taxation (product)

Management Accounting (basis)

It means reducing the cost while improving financial position of business

Cost related to support production (Includes selling and administrative expenses)

Management Accounting (product)