I am going to discuss the difference between managerial accounting and cutting cost. I will also provide some of where lean production came from and how it started
Andrea Blake
IP 2
September 3, 2012
American Intercontinental University
Cutting Cost
Abstract
In this paper I am going to discuss the difference between managerial accounting and cutting cost. I will also provide some of where lean production came from and how it started or originated from. I am going to also briefly touch on how Dr. White can prepare to cut budgets as well as the company and the other employees that surround her.
Cutting cost
The difference between cost accounting and managerial accounting is that when talking about cost accounting it is mainly used within the company to manage the companies’ costs or even drop costs. Cost accounting is used internally and is primarily an internal mechanism, it is not tied with managerial accounting standards such as GAAP, and the steps to try and figure out where reductions in budgets and costs will be realistic.