Cost Accounting

Cost and Expenses The terms ‘cost’ and ‘expense’ are commonly used words in the fields of business, economics, and accounting. Most often these terms can…

Both cost accounting and financial accounting are the parts of accounting. Both provide useful information to the businessman for decision making. Both can be used…

Characteristics of Ideal Cost Accounting System Cost accounting is the process of collecting information about the costs incurred by a company’s activities, assigning selected costs…

Cost accounting is the process of collecting information about the costs incurred by a company’s activities, assigning selected costs to products and services and other…

Methods and Techniques of Cost Accounting Cost accounting is the process of collecting information about the costs incurred by a company’s activities, assigning selected costs…

Historical cost is the original cost of an asset, as recorded in an entity’s accounting records. It is the preferred method of valuing assets because…

Standard costing is a system under which the cost of a product is determined in advance on certain pre-determined standards. With reference to the example…

Control of Cost The control of cost or cost control is the practice of managing and/or reducing business expenses. Cost controls start by the businesses…

Cost accounting is the process of collecting information about the costs incurred by a company’s activities, assigning selected costs to products and services and other…

Cost Accounting Cycle Cost accounting is the process of collecting information about the costs incurred by a company’s activities, assigning selected costs to products and…