To be successful, all organizations need to thoroughly understand their costs. New technologies, such as phone apps, are changing the way consumers shop and purchase goods and services.

Discuss the different types of costs at your current or a previous employer.
Explain how costs might differ for managerial and financial accounting.
Discuss the importance of understanding the types of costs that one is responsible for.
Discuss the understanding of financial versus managerial accounting relative to your peers’ responses.