Question

what is cost accounting and characteristics ?

Answer 1

Answer:

Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing the variable costs of each step of production as well as fixed costs, such as a lease expense.

Characteristics

1.Correctness

2.Ease

3.Elasticity

4.Cost-effectiveness

5.Comparability

6.Promptness

7.Periodical preparation of accounts

8.Reconcililation with financial accounts

9.Uniformity