Objectives of cost accounting, Cost Accounting


1)To help in the development of long range plans by provided that cost data that acts as a origin for projecting data for planning.

2)To make sure well-organized cost control by communicating necessary data costs at regular intervals and thus minimize the cost of manufacturing.

3)Find out cost of activities or products, which is   helpful in   the purpose of quotation or selling price.

4)To recognize profitability of each process, department ,product, etc, of the business.

5)To offer management   with information in association with a variety of operational troubles by comparing the definite cost with standard cost, which discloses the variances or discrepancies.

Posted Date: 10/15/2012 6:43:58 AM | Location : United States

Related Discussions:- Objectives of cost accounting, Assignment Help, Ask Question on Objectives of cost accounting, Get Answer, Expert's Help, Objectives of cost accounting Discussions

Write discussion on Objectives of cost accounting
Your posts are moderated
Related Questions
This is the income received but not earned throughout the accounting period. Conversely, this is the income for those services are to be rendered in future. Such income is deducted

Cost sheet is a declaration of cost for a product for given period of time.

Dixon Corporation was established on January 1, Year 1.  The firm has 2 divisions, Division A and Division B.  Division A manufactures standard carpets, and Division B manufactures

Blue sky Company's 12-31-13 balance sheet reports assets of $5,000,000 and liabilities of $2,000,000. All of the book value's are the same as the market values except for land, wh

COST CONCEPTS / CLASSIFICATION OF COSTS 1. According to functions Administration cost / office cost Selling cost Production cost / factory cost / manufacturing c

Imperial Sandwich Plc is to be established shortly. The founders are considering their options with regard to capital structure. A total of £5 m will be required to establish the b

The following details are available from a company:                                                  2003                 2004                                      2003

Analysis of stockholders equity: Star Corporation issued both common and preferred stock during 19X6. The stockholders' equity sections of the company's balance sheets at the

Assume B, G and T are in real terms (and in billions of dollars). B t-1  = 1000      G t = 220           T t = 200            i t   = .15     π t   = . 10 a) Calculate th

In a given period production and cost data were as follows:     Total Costs   Materials   Rs. 5,115                      Labour          3,952                     Overheads