1) Explain this statement: 'Managerial accounting and financial accounting work is interrelated and teh accountants must work together closely" relates to accounting concepts.

2) Describe three cost measurement methods that can be used to compute the unit cost of a product or service?

1) Describe the accounting concepts that focus on determining the amount of cost, when costs should be recorded, and to what costs should be compared?

2) Why does the concept of matching underlie the cost flows in a job order costing system?

1) Why does the concept of cost management underlie the five steps in preparing a process cost report?

2) Why does process costing in the management process reinforce the concepts of cost recognition and cost measurement to produce business results?

1) Discuss how differentiating between activities that add value and those that do not add value enhance the relevance and reliability of manager information?

2) Why do the concepts of relevance and reliability underlie the five steps in implementing activity-based costing (ABC)?