Question

what is cost accounting

Answer 1

Cost accounting is an accounting method that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs, such as depreciation of capital equipment. Cost accounting will first measure and record these costs individually, then compare input results to output or actual results to aid company management in measuring financial performance.

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Answer 2

ANSWER

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Cost Accounting :- Cost accounting is the process of accounting for cost from the point at which expenditure is incurred or commited to the establishment of it's ultimate relationship with

cost centres and cost units.

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• It embraces the preparation of statistical data the ride out or planned.

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• The application of cost control methods and the ascertainment of the profitability of the activities carried out or planned.

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• The main objective of cost accounting is to ascertain the cost of incurred for carrying out business activities.

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• It enables the management to exercise control over different types of cost.

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