1. #1
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    What is the meaning of cost accounting?

    What is the meaning of cost accounting?
    thank you





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  3. #2
    chi12
    Join Date
    Sep 2012
    Posts
    17

    Re: What is the meaning of cost accounting?

    dear friend its a part of accountancy . i can give you a idea of that knowledge actually it is a type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment. Cost accounting will first measure and record these costs individually, then compare input results to output or actual results to aid company management in measuring financial performance.

    after graduation so many student interested to study about that course. regards .




  4. #3
    jericho
    Join Date
    Apr 2012
    Location
    Bikaner, Rajasthan
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    1,246

    Re: What is the meaning of cost accounting?

    Friend,

    Cost Accounting is Wide Part of Accountancy. Many Jobs Available for Cost Accounting Field.

    Definition :-

    A method of accounting in which all costs incurred in carrying out an activity or accomplishing a purpose are collected, classified, and recorded.
    "Cost accounting is an expanded phase of the general or financial accounting of a business concern which provides management promptly with the cost of producing or selling each article or of rendering a particular service".


    I attach pdf file for full details of Cost Accounting.
    Attached Files

  5. #4
    ravikannth2027
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    Jan 2012
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    hyderabad
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    Re: What is the meaning of cost accounting?

    Cost Accounting :

    A method of accounting in which all costs incurred in carrying out an activity or accomplishing a purpose are collected , classified & recorded
    This date is then summarized & analyzed to arrive at a selling proce or to determine where savings are possible




  6. #5
    pabolu manikanta
    Join Date
    Sep 2011
    Posts
    2,326

    Re: What is the meaning of cost accounting?

    Hello Friend.......

    Cost Accounting:
    Cost Accounting is the one of the information which is being used by the managers of the firm,and the firm may be anything which is of the small and also the large firms and the firms may be the schools, hospital,banks,government agency,etc.........
    This cost accountancy is used by the managers to take the decisions on the financial management of the particular firm managers as they need the financial crisis of their own company they need to develop the company by improving the financial crisis,and this Cost accountancy is used to take the decisions up on the financial strategies.......



    The accountants who handle the cost accountancy information will provide the good information for the managers of the firm to take decisions according to that.Among the better decisions the best decision will make the company growths in a well framed way.........
    Cost accounting is mainly deals with the collecting, analyzing, summarizing and evaluating the various alternative courses involving the costs.
    The organisation and the managers of the organisation will be worrying about the costs and how to improve the cost working and if the costs reduce then the profits of the firm will also be increasing if the costs reduce...........

    The cost accounting is very much important to the managers of the firm to make decisions about the weakness and the forces of the cost accounting information. and participate in the evolution of the cost accounting...........
    There are different approaches which are made in the cost accounting and some of them are......
    *Standardized or the Standard cost accounting
    *Lean Accounting
    *Activity Based costing
    *Throughput accounting
    *Marginal costing
    These are the different approaches which are made for the cost accounting and some of the costs are
    >>Raw materials
    >>Labour
    >>Indirect expenses
    These are the different costs which must be maintained and calculated.......
    REGARDS:

  7. #6
    Rahul k
    Join Date
    May 2011
    Location
    Uttranchal,Rishikesh
    Posts
    1,943

    Re: What is the meaning of cost accounting?

    Cost Accounting:

    There are many definitions for cost accounting, but what the cost accounting is, i am telling you, cost accounting is the recording of all the costs incurred in a business in a way that can be used to improve its management. It is simply the process of accounting for cost.

    It is concerned with recording, classifying and summarizing costs for determination of costs of products or services, planning, controlling and reducing such costs and furnishing of information to management for decision making.

    Cost accounting is the process of preparing special accounts of manufacturing and sales costs.

    It is a branch of accounting that observes and calculates the actual costs of a company's operations.

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