what are the various classification of cost accounting?
what are the various classification of cost accounting?
Financial accounting refers to accounting refers to accounting for revenues, expenses, assets, and liabilities. It involves the basic accounting processes of recording, classifying, and summarizing transactions. - Cost accounting is the branch of accounting dealing with the recording, classification, allocation, and reporting of current and prospective costs. - Managerial accounting is the branch of accounting designed to provide information to various management levels in the hospitality operation for the purpose of enhancing controls.
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.
Manage appropriations and implement funds control.
answer
Cost accounting is a subset of management accounting, although the two are used interchangeably.
compare and contrast cost accounting and financial accounting
Nicholas Dopuch has written: 'Solutions manual for Cost accounting' -- subject(s): Cost accounting 'Cost accounting' -- subject(s): Cost accounting
What are the function and responsiblity of Cost Accounting
cost accounting advantage & disadvantage
strength of historical cost accounting