____ covers topics such as cost concepts, method of estimating costs etc
Answers
Answer :
Cost accounting covers topics such as cost concepts, method of estimating costs etc.
Explanation :
Cost accounting is a branch of accounting that deals with the process of identifying, measuring, analyzing, interpreting, and communicating cost information used for the purpose of planning, controlling, and decision-making. It covers a wide range of topics such as cost concepts, method of estimating costs, cost-volume-profit analysis, budgeting, standard costing, variance analysis, activity-based costing, and management control systems. Cost accounting helps organizations to understand the cost of producing a product or service and make informed decisions about pricing, production, and other business strategies. It is a critical function for businesses, as it enables them to keep track of their expenses, identify areas for cost savings, and ensure they are operating as efficiently as possible. Overall, cost accounting is a fundamental tool that helps organizations to make sound business decisions by providing accurate and relevant cost information.
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