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The Profitable Supply Chain: A Practitioner's Guide by Ramnath Ganesan

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APPENDIX A

Managerial Cost Accounting

Supply chain analysis requires the use of cost concepts for calculating metrics and making decisions. Managerial accounting is the process of identifying and interpreting cost information for the pursuit of an organization’s goals. The difference between managerial and financial accounting is that the former is aimed at helping managers in the organization make decisions, while the latter is aimed at providing information to parties outside the organization. As a result, there is more latitude in the principles and methods used in managerial accounting.

Accounting recognizes expenses as product costs or period costs. A product cost (also referred to inventoriable cost) is an expense assigned to goods that ...

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