The main benefit of cost accounting is that it can be used to alert management on how to be more cost effective. It also helps companies plan for the future.
Management accounting includes both financial and cost accounting, tax planning and tax accounting. Cost accounting, on the other hand, does not include financial accounting, tax planning and tax accounting.
Cost accounting is a subset of management accounting, although the two are used interchangeably.
compare and contrast cost accounting and financial accounting
Advantage of computerised accounting system?
The cost of wages paid to workers during an accounting period on daily, weekly, monthly, or jobs basis,plus payroll and related taxes and benefits.
The benefit of cost accounting is that you do not need to calculate the change in the costs when the price of your supplies increase. Your profits are simply your sales minus the cost of your inventory and minus the cost of your purchases. Cost accounting is ideal for a small operation.
cost accounting is used instead of financial accounting because cost accounting is used to determine the cost of the good produced
Management accounting includes both financial and cost accounting, tax planning and tax accounting. Cost accounting, on the other hand, does not include financial accounting, tax planning and tax accounting.
answer
Cost accounting is a subset of management accounting, although the two are used interchangeably.
compare and contrast cost accounting and financial accounting
what are the various classification of cost accounting?
Nicholas Dopuch has written: 'Solutions manual for Cost accounting' -- subject(s): Cost accounting 'Cost accounting' -- subject(s): Cost accounting
Advantage of computerised accounting system?
The cost of wages paid to workers during an accounting period on daily, weekly, monthly, or jobs basis,plus payroll and related taxes and benefits.
The cost of wages paid to workers during an accounting period on daily, weekly, monthly, or jobs basis,plus payroll and related taxes and benefits.
What are the function and responsiblity of Cost Accounting