Hey there hope all is well however i need some help inAccounting --- need a 3-5 page essay on this topic APA format

Whats the Cost?

Nearly 70 years ago, eminent economist J. Maurice Clarke stated that accountants use different costs because of their differing objectives. The business world has certainly become a lot more complicated since Professor Clarkes insightful comment. Management accountants today are expected to be a lot more conversant and knowledgeable about business operations. They are expected to add value to their company by their ability to bring the right information to bear on a decision. To do that, management accountants must be able to identify, analyse, and help solve problems. They have to operationalise Professor Clarkes statement

Required

1. What are the different uses for accounting information? That is, for what purposes or functions is cost information used? Try to identify as many uses as you can and then try to group similar or related uses under some common heading, for example, external reporting.

2. Define each of the following cost or revenue concepts and give examples of decisions or situations where the concept would be used:

• • • Sunk cost
    • Avoidable cost.
    • Opportunity cost.
    • Joint cost.
    • Contribution margin per unit of constrained resource.