Question

What is meaning of cost accounting?

Answer 1

cost accounting is the process of recording, classifying, analyzing, summarizing and allocating costs associated with a process.

Answer 2

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ᴄᴏsᴛ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ɪs ᴀ ғᴏʀᴍ ᴏғ ᴍᴀɴᴀɢᴇʀɪᴀʟ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ᴛʜᴀᴛ ᴀɪᴍs ᴛᴏ ᴄᴀᴘᴛᴜʀᴇ ᴀ ᴄᴏᴍᴘᴀɴʏ's ᴛᴏᴛᴀʟ ᴄᴏsᴛ ᴏғ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ʙʏ ᴀssᴇssɪɴɢ ᴛʜᴇ ᴠᴀʀɪᴀʙʟᴇᴄᴏsᴛs ᴏғ ᴇᴀᴄʜ sᴛᴇᴘ ᴏғ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴀs ᴡᴇʟʟ ᴀs ғɪxᴇᴅ ᴄᴏsᴛs, sᴜᴄʜ ᴀs ᴀ ʟᴇᴀsᴇ ᴇxᴘᴇɴsᴇ.