June 2011
Intermediate to advanced
150 pages
4h 22m
English
Content preview from Managerial EconomicsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Economic Versus Accounting Measures of Cost and Profit
The discipline of accounting provides guidelines for the measurement of revenue, cost, and profit. Having analyses based on generally accepted principles is important for making exchanges in our economy. For example, corporations must produce financial statements to help investors and creditors assess the health of the corporation. Individuals and businesses must produce tax returns to determine a fair measurement of income for taxation purposes.
Costs as measured according to accounting principles are not necessarily the relevant measurements for decisions related to operating or acquiring a business. For example, accounting standards dictate that businesses depreciate long-lived assets, ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.