Definition Of Management Accounting

In the 1880s, manufacturing companies in the United States began to concentrate in the development of large-capacity production technology. Managers and engineers at metal company has developed a procedure to calculate the relevant product cost so-called scientific management.

Money

Money in traditional economics is defined as any medium of exchange that can be accepted. Medium of exchange that can be any object that can be accepted by everyone in the community in the process of exchange of goods and services.