Answer these questions:

Chapter 16

1) Describe the accounting concepts that focus on determining the amount of cost, when costs should be recorded, and to what costs should be compared?

2) Why does the concept of matching underlie the cost flows in a job order costing system?

Chapter 17

1) Why does the concept of cost management underlie the five steps in preparing a process cost report?

2) Why does process costing in the management process reinforce the concepts of cost recognition and cost measurement to produce business results?

Chapter 18

1) Discuss how differentiating between activities that add value and those that do not add value enhance the relevance and reliability of manager information?

2) Why do the concepts of relevance and reliability underlie the five steps in implementing activity-based costing (ABC)?