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Define accounting
What is the difference between Financial accounting and management accounting?
Define characteristics of management accounting
Define characteristics of financial accounting
What is management accounting useful for?
4 phases in developing Management Accounting
Which costs are NOT relevant for FUTURE decision making? (Irrelevant costs)
Which costs must be taken into account for future decision making (Relevant costs)
Define committed costs
What are 2 conditions for Relevant Costing?
Define a Past/Historic/Sunk cost
Define an outlay cost
