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standard costing

lgarsidelgarside Well-KnownRegistered Posts: 122
Hi is anyone able to help me with costing. Do companies use standard costing, marginal costing, absorption costing and ABC costing interchangeably, do companies choose to use one method over another or are they used for different functions?

Thanks for your help

Comments

  • SandyHoodSandyHood Font Of All Knowledge Registered, Moderator Posts: 2,034
    is anyone able to help me with costing?

    do companies choose to use one method over another or are they used for different functions?
    1. standard costing
    2. marginal costing,
    3. absorption costing
    4. and ABC costing
    ,
    1. absorption costing is used for financial reporting
    2. marginal costing is used for decision making
    3. standard costing is used for control
    4. ABC costing is an alternative approach to absorption costing
    Sandy
    [email protected]
    www.sandyhood.com
  • lgarsidelgarside Well-Known Registered Posts: 122
    costing

    Thanks Sandy, so I guess within batch, process, job and service costing all of these are used to obtain different financial figures.
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