See Also: ProForma Financial Statements Cost Center Weighted Average Cost of Capital (WACC) Percent of Sales Method Standard Costing System Comparison Analysis Budgeting vs Forecasting Forecasting in Accounting Forecasting in accounting refers to the process of using current and historic cost data to predict future costs. Forecasting is important for planning purposes – it is necessary to
See Also: Accrual Based Accounting The Future of the Accounting Workforce Absorption vs Variable Costing Implementing Activity Based Costing Process Costing Management Accounting Cost Accounting Definition The common cost accounting definition is accounting which seeks to create then compare a budget to the actual cost of doing business. In cost accounting, budgeting aids in decision making
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