answersLogoWhite

0

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.

User Avatar

Wiki User

11y ago

What else can I help you with?

Related Questions

What are benefits of cost accounting?

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.


Why cost accounting is used instead of financial accounting?

cost accounting is used instead of financial accounting because cost accounting is used to determine the cost of the good produced


How does management accounting differ from cost accounting?

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.


What is the Cost and cost accounting also give out objectives of cost accounting?

answer


Cost accounting and management accounting?

Cost accounting is a subset of management accounting, although the two are used interchangeably.


Compare and contrast between cost accounting and financial accounting?

compare and contrast cost accounting and financial accounting


What are the Classifications of cost accounting?

what are the various classification of cost accounting?


What has the author Nicholas Dopuch written?

Nicholas Dopuch has written: 'Solutions manual for Cost accounting' -- subject(s): Cost accounting 'Cost accounting' -- subject(s): Cost accounting


Benefits of computerised accounting?

Advantage of computerised accounting system?


What is cost labor?

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 is the labor cost?

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 responsibilty of Cost Accounting?

What are the function and responsiblity of Cost Accounting