Define Cost Accounting

Give a brief introduction of the term ‘Cost Accounting’. And also write down the objectives?

E

Expert

Verified

Cost Accounting is the procedure of recording and classifying of expenses incurred throughout the operations of the organization in an orderly way, in order to determine the cost of a cost center with the intention to control the cost.

The essential three objectives of Cost Accounting are illustrated below:

i) Ascertainment of Profitability and Cost
ii) Cost Control
iii) Presentation of information for managerial decision making.

   Related Questions in Cost Accounting

2015 ©TutorsGlobe All rights reserved. TutorsGlobe Rated 4.8/5 based on 34139 reviews.