Define accounting

What is the difference between Financial accounting and management accounting?

Define characteristics of management accounting

Define characteristics of financial accounting

What is management accounting useful for?

4 phases in developing Management Accounting

Which costs are NOT relevant for FUTURE decision making? (Irrelevant costs)

Which costs must be taken into account for future decision making (Relevant costs)

Define committed costs

What are 2 conditions for Relevant Costing?

Define a Past/Historic/Sunk cost

Define an outlay cost