MEANING:
Cost Accounting is specialised branch of general accounting in which detailed and systematic information related to cost of goods or services are maintained in such a way as to obtain detailed information about total and per unit cost and guidance for the analysis and control of cost.
''Cost Accounting is the technique and process of ascertainment of cost''.
Cost:
''Cost is a measurement in monetary terms of the amount of resources used for the purpose of production of goods or rendering services".
Costing:
The techniques and process of ascertaining costs is known as Costing.
Cost Accounting:
It is the process of accounting for cost from the point at which expenditure is incurred or committed to the establishment of its ultimate relationship with cost centre and cost units.
Cost Accountancy:
Cost Accountancy includes
following are:
Cost Accounting is specialised branch of general accounting in which detailed and systematic information related to cost of goods or services are maintained in such a way as to obtain detailed information about total and per unit cost and guidance for the analysis and control of cost.
''Cost Accounting is the technique and process of ascertainment of cost''.
Cost:
''Cost is a measurement in monetary terms of the amount of resources used for the purpose of production of goods or rendering services".
Costing:
The techniques and process of ascertaining costs is known as Costing.
Cost Accounting:
It is the process of accounting for cost from the point at which expenditure is incurred or committed to the establishment of its ultimate relationship with cost centre and cost units.
Cost Accountancy:
Cost Accountancy includes
- Costing
- Cost Accounting
following are:
- Speacialised branch of accounting.
- It is both art and science.
- It is a specialised branch of knowledge.
- It ascertains cost of product and services through the process of accumulation, classification, analysis and recording.
- Helpful to Management.
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