Benefits of Cost Accounting

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  1. How are salaries and contracts for professional services handled in Encumbrance Accounting systems? Why would understanding this concept be beneficial to the school principal?
  2. What are the benefits of Cost Accounting? How would you attribute the costs of a Guidance Counselor to the various programs within the school center?
  3. Explain the difference between the different types of Audits. What type of Audit would be completed to monitor the following:
  • Internal accounts
  • FTE funds
  • Federal funds (i.e. IDEA grants)