Reconciliation Statements

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:08AM in AAT student discussion
Does anyone know of reasons why you should compare the standard costs with actual costs by using the reconciliation statements, do to with variances.<BR><BR>Please help<BR><BR>Sheri

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Reconciliation Statements

    RECONCILIATION STATEMENT itâ??s important that we show how variances account for all cost differences between the standard cost of the production and the actual cost, we must compare like and like and use the data for standard cost of actual production to compare with actual cost. <BR><BR>hope this helps
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Reconciliation Statements

    Thank you. That makes sense.

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