Accounting information provides detail information of revenue earned and expenditure incurred in an accounting period. Income is the result of difference between revenue and cost. Absorption costing and variable costing are not the systems of costing like process, operating, batch or job costing. Rather they are the tools or techniques of product costing. 

The basic underlying difference between absorption and variable costing is perceived by most accounting professionals to be a single issue: the decision as to which production costs should be treated as assets ( product costs) and which should be treated as expenses ( period costs). 


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