Explain the scope of cost accounting, Managerial Accounting

Assignment Help:

Explain the Scope of cost accounting

Scope of cost accounting: the scope of cost accounting is very wide and includes the following:

1 cost ascertainment: it deals with the collection and examines of the expenses the measurement of production of the dissimilar production at the different parts of manufacture and the linking up of production with the expenses.

2. Cost accounting: it is the process of accounting for cost which starts with recording or expenditure and ends with the preparation of statistical data. It is formal mechanism by means of which costs of products or service are ascertained and controlled

3. Cost control: cost control is the guidance and regulation by executive action of the costs of operating and undertaking.

 


Related Discussions:- Explain the scope of cost accounting

International transfer pricing, International Transfer pricing Internat...

International Transfer pricing International transfer pricing refers to the determination of prices to be charged between related persons and in particular within a multination

Accounting concepts, implications of applying accounting concepts wrongly

implications of applying accounting concepts wrongly

Show the pricing during market growth, Q. Show the Pricing during market gr...

Q. Show the Pricing during market growth? Pricing during market growth: in the growth stage there is steep rise in the turnover of the company. As prices of new competitors

Predetermined Overhead Rate, Logan Products computes its predetermined over...

Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year, it estimated that 39,000 direct labor-hours would

Example of credit period, M/s ABC has an existing sales of Rs.50 lakhs and ...

M/s ABC has an existing sales of Rs.50 lakhs and permits a credit period of 30 days to its customers.  The firm cost of capital is 10% and the ratio of variable cost to sales is 85

Saddle point, Saddle Point The saddle point in a payoff matrix is one w...

Saddle Point The saddle point in a payoff matrix is one which is the smallest value in its row and the largest value in its column. It is also termed as equilibrium point in th

Strategic plan, How to write introduction on strategy plan

How to write introduction on strategy plan

What are the resons to use variance analysis, What are the Resons to use Va...

What are the Resons to use Variance analysis Variance analysis should be a continuous process for following reasons: 1) Labor rates, salary levels etc, changes due to union

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd