Introduction of the term Cost Accounting
Provide a brief introduction of the term Cost Accounting?
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Cost Accounting : is the procedure of recording and classifying of expenditure sustained throughout the operations of the organization in a methodical way, in order to determine the cost of a cost center with the objective to control the cost.
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he following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost
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