Question

What is the main scope of cost and management accoounting?

Answer 1

$\huge\mathfrak\red{ANSWER }$

Cost system: Systems and procedures are devised for proper accounting for costs. Cost ascertainment:Ascertaining cost of products, processes, jobs, services, etc., is the important function of cost accounting. Cost ascertainment becomes the basis of managerial decision making such as pricing, planning and control.