UOP ACC 349 Week 1 DQ

Week 1 DQ Question #1 What are the differences between a direct cost and an indirect cost? Which is the more difficult cost to track? Why? How do indirect costs affect the cost of a product? Should indirect costs be included in product cost? Why or why not? Question #2 What are the differences between job-cost and process-cost systems? When would it be appropriate to use each type of system? How does each system affect the cost of a product? Question #3 What are some of the key differences between financial and managerial accounting? How do these differences impact the type of information that must be gathered and reported? What are the different types of decisions that users of financial accounting information must make? What are the different types of decisions that users of managerial accounting information must make?