Cost and management accounting

Cost accounting

Speaking part 2: long turn

Read Professional English in Use – Finance Unit 17, “Cost accounting” before giving a one-minute talk on the following topics:-

Cost accounting 1

  • the purpose of cost accounting
  • direct and indirect costs
  • fixed and variable costs

Cost accounting 2

  • the principle of ‘absorption costing’
  • the principle of ‘activity-based costing’
  • how companies allocate charges to departments that do not generate profit

Cost accounting 3

  • the reasons for ‘breakeven analysis’
  • the ‘breakeven point’
  • other factors in pricing decisions

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