Cost Accounting – An introduction

Cost Accounting It provides information for both management accounting and financial accounting. It measures and reports from financial and non financial data.

  • Cost accounting measures and reports information relating to the cost of acquiring and utilizing resources
  • Cost accounting provides information for management and financial accounting
  • Cost management describes the approaches and activities of managers in short-run and long-run planning and control decisions
  • These decisions increase value of customers and lower costs of products and services
  • Cost management is an integral part of a company’s strategy

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