It is not easy to define or explain the term cost leaving no doubt concerning its meaning. The committee on cost concept and standards of…

The collection of presentation and analysis of cost data should serve the following essential or user aims: 1. Planning profit by means of budgets Controlling…

Cost classification are needed for the development of the cost data that are useful to management with regard to the five purposes or aims described…

Different types of cost involves varying kinds of consideration in managerial analysis for decision making. For example, deferential and out of pocket cost are types…

Budget. In many companies predetermination or estimating factory overhead constitutes the initial step toward the budget program. When all phases of a business sales engineering…

A successful system is tailored to give the blend of sophistication and simplicity that is most efficient and economical for a specific organization. In recognition…

The cost accounting system with its operating accounts must corresponds to the organizational division of authority so that the individual manger can be held accountable…

Accounting may be defined as the science as well as the art of recording financial transactions under appropriate accounts. The American Institute of Certified Public…

Any business needs computation of profit and loss. The process of computing business computing business profit and loss is known as Accounting. Every business and…

There are basically two systems of accounting: Cash System of Accounting: It is a system in which accounting entries are made only when cash is…