What are the differences between variable and absorption costing Why is variable costing not allowed for GAAP reporting Which method is more useful for internal decision making Why As a manager, which would you prefer Why ...

Variable costing considers only the variable cost and do not take in ...

What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP

Question:

What are the differences between variable and absorption costing? Why is variable costing not allowed for reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why
GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...