2 Answers - Sort by: Date | Rating
It is to determine the actual cost of production of a product or service as opposed to the overall operations of the entity. This would relate to both direct and indirect costs as every product has cost that to manufacture are needed specifically and then ancillary costs that are required for production but not a direct component or ingredient of the specific product.
0
0
The purpose of cost accounting is some different with managerial accounting .
It tracks cost associated with a product and also ancillary cost specifically.
Cost accounting sets out cost in fixed and variable which helps in decision making process for the managers.
It also tracks cost by nature i,e direct cost or indirect cost which really give widespread decision
to take correctly.
It tracks cost associated with a product and also ancillary cost specifically.
Cost accounting sets out cost in fixed and variable which helps in decision making process for the managers.
It also tracks cost by nature i,e direct cost or indirect cost which really give widespread decision
to take correctly.
0
0
Guest
answered 7 months ago
- Auditing Starts Where Accounting Ends.explain?
- What Is The Entry Passed For Sales Return(Sales Is On Basis)?
- What Is The Current Issue In Preparing Balance Sheet?
- What Is The Usefulness Of Income Statement?
- What Are The Advantages In Taking An Accelerated Pharm.D. Program?
- Allowance Of Doubtful Accounts Is Debited Under The Direct Write-off Method When An Account Is Determined To Be Uncollectible. Is This True Or False?
- How Would You Verify Cash At Bank?
- When Consignee Sales Goods In Excess. Which Entry Will You Make?
- What Is The Balance Sheet Treatment Of A Car Purchased With Cash And A Car Purchased On Credit?
- What Is Stop Payment In Accounts Payable?
- How Would You Audit The Accounts Of The Following? A) Solar Trader
- What Is Purchase Order In Accounts Payable?
- What Is Purchase Order In Accounts Payable?
- What Is Invoice In Accounts Payable?
- What Are The Social And Legal Responsibilities Of Auditors?
- What Are The Normal Constraints Pun On E-cash?
- From The Following Annual Statement Of Pioneer Ltd Calculate The Following Ratio: A.gross Profit Ratio B.current Ratio C.liquid Ratio D.debt Equity Ratio E.return On Capital Employed Ratio?
- What Are The Roles Of Professional Bodies In The Regulation Of Auditors?
- Who Is In Charge Of A Petty Cash Receipt?
- What Is Balance Of My Account My A/c No. Is63047278703?
- Explain Why It Might Be Easier For A Business To Reduce Capital Expenditure Rather Than Revenue Expenditure?
- Is Building Meterials Is Ravenue Or Capital Expenditure?
- Can Anyone Help Me By Giving Me A List Of Cost Accounting Definitions?
- Where To Find Market Value Per Share At Balance Sheet Date?
- Did You Have Any Difficulties In Carrying Out Your Work And If So What Steps Could Be Taken To Overcome Them?(what Is The Best Way To Answer If I Don't Have Any Difficulties To This Question)
Featured Question
- Business & Finance
- Business
- Accountancy
- Accountancy Software
- Advertising & Marketing
- Business Banking
- Business Loans
- Business Mortgage
- Buy A Business
- Direct Mail
- Directors
- Exhibitions
- Factoring
- Franchising
- Grants And Free Help
- Interviewing
- Investments
- Leasing
- Organization
- Organizational Charts
- Pension Schemes
- Phone Numbers
- Premises
- Public Relations
- Public Sector
- Redundancy
- Regulations
- Sell A Business
- Service Sector
- Staff
- Starting A Business
- Strategy
- Taxes
- Training & Leave
- Venture Capital
- Virtual Offices
Alternative Questions
Contributors have said that this question
has the same meaning as:
- What Is The Purpose Of Accounting?
- What Is The Purpose Oc Cost Accounting?
New Comment - Comments are editable for 5 min.