Cost Accounting DefinitionLike you, we want to help learners succeed. Everything we do enables learners to achieve more. From online teaching and learning tools to personalised learning, and from online and blended course design to trusted and engaging content, we help you help your students be the best they can possibly be. We work with educators and institutions to support learner needs and deliver measurable results, enabling students everywhere to fulfil their potential. Watch the video to find out more.
All Cost Accounting
Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing the variable costs of each step of production as well as fixed costs, such as a lease expense. Cost accounting is used by a company's internal management team to identify all variable and fixed costs associated with the production process. It will first measure and record these costs individually, then compare input costs to output results to aid in measuring financial performance and making future business decisions. There are many types of costs involved in cost accounting, which are defined below. While cost accounting is often used by management within a company to aid in decision making, financial accounting is what outside investors or creditors typically see. Financial accounting presents a company's financial position and performance to external sources through financial statements , which include information about its revenues , expenses , assets , and liabilities.
By Dheeraj Vaidya Leave a Comment. Accounting Tutorials. Top Best Management Accounting Books — Being a manager means you need to possess more knowledge that others specifically your subordinates. Accounting know-how is equally important for managers and hence for people there without an accounting background we have some great books to help you with the subject. This management accounting book has been introduced by the author to make sure that he addresses the varying scope of the subject along with pioneering the changed curriculum. The content has been presented in a logical and structured manner by the author to make sure that students make the most out of the difficult concepts and techniques of management accountancy.