Question

What do you mean by cost accounting objectives and advantages

Answer 1

It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity.

These financial statements are basically of two types: First is Profitability Statement or Profit and Loss Account and second is Balance Sheet. Following are the characteristics features of Financial Accounting: 1) Monetary Transactions: In financial accounting only transactions in monetary terms are considered.

pliz mark me as brainliest

Answer 2

Recording of all the coasts incurred in business in a way that can be used to improve its management.