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

The break even point in dollorsales for rice company, the break even point ...

the break even point in dollorsales for rice company is48,000 and the company's contribution margin ratio is 40 percent. If Rice Company desires a profit of $84,000, how much wou

Product mix decision when capacity constraints exist, a certain company mak...

a certain company makes 3 products A,B and C and they use the same raw material zhong.details about each product is as follows.production units are 10 000 for A,8 000 for B,12 000

Motives for conducting cash balances, In this section we have discussed the...

In this section we have discussed the motives for conducting cash balances. In addition, we have discussed cash deficit or surplus situation and how it can be contained by the use

FIFO, I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO

I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO

Service time-probability distribution curve, Service time-probability distr...

Service time-probability distribution curve A common example is that service times follow an exponential probability distribution i.e. y=e -x Service channels - t

Break event, The Braggs & Struttin'' Company manufactures an engine for car...

The Braggs & Struttin'' Company manufactures an engine for carpet cleaners called the "Snooper." Budgeted cost and revenue data for the "Snooper" are given below, based on sales of

Orders per year , Lila Battle has determined that the annual demand for num...

Lila Battle has determined that the annual demand for number 6 screws is 100,000 screws. Lila, who works in her brother's hardware shop, is in charge of purchasing. She estimates t

Concentration banking, When the customers of the company are spread over br...

When the customers of the company are spread over broad geographical areas then in place of a particular collection centre the company opens collection centres at the regional stag

C-v-p analysis – multiple products, C-V-P ANALYSIS – MULTIPLE PRODUCTS ...

C-V-P ANALYSIS – MULTIPLE PRODUCTS The simple product CVP analysis can be extended to handle the more realistic situations where the firm produces more than one product. The o

Managerial accounting, Gafat Engineering Ethio plc manufactures two types o...

Gafat Engineering Ethio plc manufactures two types of TV sets LCD and CRT both having only one model. The LCD and CRT television sets sell for $9000 and $5000, respectively. the co

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