There may be differences between accounting in different countries because of importance of factors such as history or technology.

Strategic management accounting is concerned principally with short-term operational decisions.

Break-even point is variable costs divided by contribution per unit.

When recovering costs for pricing we use total absorption costing. However, for stock valuation we use absorption costing or marginal costing.

Strategic choice may involve exploiting inherent strengths such as the business's products or customer base and/or external diversification through acquisition, merger or collaboration.

When using traditional total absorption costing it is important to identify activity cost drivers.

The accounting rate of return is the only investment appraisal technique that focuses on profits not cash flows.

A cost is an actual past expenditure.