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There is a relationship among information needs of management, cost accounting objectives, and techniques and tools used for analysis in cost accounting Cost accounting has the following main objectives to serve: 1 Determining selling price 2 Controlling cost 3 Providing information for decision-making 4 Ascertaining costing profit 5
tions in use or in cost; - to adopt appropriate strategies for cost reduction, and to avoid inefficient approaches to the problem of excess costs 3 Use The course as described in this manual can be used for a special-ised course on cost accounting The complete programme, or indi-vidual sessions or parts of sessions, can also be incorporated in
CMA assists in planning, monitor-ing and controlling the cost and price of a product or a service Nowadays with multi-product ventures taking place, it has become important to know and understand the exact cost of production every of product and A Cost Accountantcarries out costing and pricing of goods and services as well as carries out
The cost accounting is very closely-related to financial accounting Few authorities of accounting consider cost accounting to be the branch of financial accounting But it may be said that cost accounting is complementary to financial accounting Financial accounting and cost accounting are both similar in various ways The main relationship
Managerial accounting, like financial accounting, provides infor-mation to help users make better decisions However, manage-rial accounting and financial accounting differ in important ways, which this chapter explains This chapter also compares the ac-counting and reporting practices used by manufacturing and mer-chandising companies
be compared to the sales price in order to determine the efficiency of the developed activity, and on the other hand, the cost prediction in order to determine discrepancies from the actual costs (C?lin et al , 2008: 10-11) The normative regulations in our country integrate the management accounting objectives as follows (OMFP nr 1826/2003):