What is cost accounting, Cost Accounting

Assignment Help:

This can be explained as the process of accumulating, calculating, analyzing, interpreting and reporting cost information that is both helpful and relevant to the internal and external stakeholders of a business entity. External stakeholders are those who have a vested financial interest in a business or organization. For example banks (loans), financial houses (mortgages), investors (investments), etc. Internal stakeholders are the business or organization directors, managers, division heads, etc.


One of the many advantages of cost accounting is that it turns data into information, knowledge and wisdom about a business entity's operations that is useful for:

? measuring performance
? Decreasing or managing costs
? determining the fees or prices for goods and services
? deciding to authorize, alter or discontinue a program or activity

 


Related Discussions:- What is cost accounting

Conceptual Frame work, What are the dependent and independent variables in ...

What are the dependent and independent variables in Cost Accounting??

Find the total amount of product costs, for financial accounting purposes, ...

for financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units?

Purchase procedure, what is the procedure of purchase of materials in large...

what is the procedure of purchase of materials in large organisation?

Classification of labour costs, Classification of Labour Costs This ca...

Classification of Labour Costs This can be classified into like: a) Indirect or Direct cost b) Variable or Fixed cost c) Non controllable and controllable cost a)

Generally accepted accounting principles, Generally Accepted Accounting Pri...

Generally Accepted Accounting Principles (GAAP) -Rules, conventions and procedures essential to define accepted accounting practice at a specific time. The highest level of such pr

Literature review - effectiveness auditing, EFFECTIVENESS AUDITING is one t...

EFFECTIVENESS AUDITING is one type of internal audit. Describe and evaluate this type of internal audit. What types of organisation would it be most useful for? Required: 1)

CORPORATE ACCOUNTING, I WENT TO MAKE ONE ASSIGNMENT CAN YOU GIVE ME QUOTE O...

I WENT TO MAKE ONE ASSIGNMENT CAN YOU GIVE ME QUOTE OR LINK TO SHARE ASSIGNMENT DETAIL

What are the variable expenses per unit, Superior Door Company sells pre-hu...

Superior Door Company sells pre-hung doors to home builders. The doors are sold for $60 each. Variable costs are $42 per door and fixed costs total $450,000 per year. The company i

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