Cost accounting is not a new concept. It’s been around for ages. It is the perfect way for all businesses and organization to keep track of their activities and costs. It is a very advantageous companion to traditional financial accounting. Let us learn a bit more about cost accounting.
- Origin and Evolution of Cost Accounting
- Meaning of Cost, costing and cost accounting
- Importance of Cost Accounting
- Financial Account vs Cost Account
- Meaning of Management Accounting
- Scope and Functions of Cost Accounting
- Objectives of Cost Accounting
- Advantages of Cost Accounting
- Costing – an aid to management
- Characteristics of an Ideal Costing System
- Classification of Cost
- Methods of Costing
- Techniques of Costing
- Cost Unit and Cost Centre
- Cost Control and Cost Reduction
- Elements of Cost
- The format of the Cost Sheet