Explain the scope of cost accounting, Managerial Accounting

Assignment Help:

Explain the Scope of cost accounting

Scope of cost accounting: the scope of cost accounting is very wide and includes the following:

1 cost ascertainment: it deals with the collection and examines of the expenses the measurement of production of the dissimilar production at the different parts of manufacture and the linking up of production with the expenses.

2. Cost accounting: it is the process of accounting for cost which starts with recording or expenditure and ends with the preparation of statistical data. It is formal mechanism by means of which costs of products or service are ascertained and controlled

3. Cost control: cost control is the guidance and regulation by executive action of the costs of operating and undertaking.

 


Related Discussions:- Explain the scope of cost accounting

#titlCase Study - Labor standards, Case Study Labor standards Geeta & Comp...

Case Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The company is conside

Cash to debt service ratio, Cash to debt service ratio  Cash to debt s...

Cash to debt service ratio  Cash to debt service ratio also known as debt cash flow coverage ratio is an improvement over the interest coverage ratio and is calculated. The

Explain the characteristics of cost reduction, Characteristics of cost redu...

Characteristics of cost reduction 1) Cost reduction must be real : said through increase in productivity change in product design improvement in technology etc. 2) Cost r

Methods of cash flow budgeting, Cash budget is a detailed budget of income ...

Cash budget is a detailed budget of income and cash expenditure including both capital and revenue items. For control reasons the year's budget is usually phased in smaller periods

What is behind the wave of mergers in the banking industry, What is behind ...

What is behind the wave of mergers in the banking industry? A: Several economic factors have caused banking institutions to merge over the past several years. These factors inc

Case study, yolande tzar came to norethen ireland

yolande tzar came to norethen ireland

Decision - making, Decision Making Some managers appear to have an...

Decision Making Some managers appear to have an intuitive sense of good decision making. The reality is that good decision making is hardly ever done by intuition. Consist

Two-person-zero-sum games, Two-person, zero-sum games Two players X & Y...

Two-person, zero-sum games Two players X & Y have two alternatives. They show their choices by pressing two types of buttons in front of them but they cannot see the opponents

Process Inventory, Hoe to find the cost of goods transferred under weighted...

Hoe to find the cost of goods transferred under weighted average method

Negotiated prices-transfer pricing methods, Negotiated prices Where mar...

Negotiated prices Where market based prices are not applicable, it has been argued that allowing managers to bargain with each other in order to establish transfer prices devel

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd