Question

what is cost accounting

only for high standards

don't spam

Answer 1

Answer:

Cost accounting is defined as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, classifying, allocating, aggregating and reporting such costs and comparing them with standard costs."

HOPE THE ANSWER HELPS YOU

MARK ME AS THE BRAINKIEST

Answer 2

Cost accounting

• Cost accounting is defined as a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate .

• Cost accounting is a business practice in which we record examine summarise and study the companies Court spent on any process service product or anything else in the organisation such financial statements and ledgers give the management visibility on their cost information .

Types of cost accounting

• Fixed cost
• Variable cost
• Semi variable cost
• Total cost

---------------------------------------------

• Activity based costing
• Lean accounting
• Standard cost accounting
• Marginal costing.

The main purpose of cost accounting is to determine the manufacturing cost of each product of the company the cost of the product is then used in determination of optimum selling prices .

Example: Include rent , depreciation , interest on loans and lease expenses.