Cost accounting would best be characterized as

  • How do you describe cost in accounting?

    Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing the variable costs of each step of production as well as fixed costs, such as a lease expense.
    Cost accounting is not GAAP-compliant, and can only be used for internal purposes.Mar 9, 2023.

  • What are the characteristics of cost accounting?

    Characteristic Features of Cost Accounting
    It is the sub-field for accounting where the process for accounting of costs is studied.
    The costing data that are recorded in this helps the management in developing the budget.
    It is also used in future planning and decision making processes by the organisation..

  • What is cost accounting also known as?

    Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing the variable costs of each step of production as well as fixed costs, such as a lease expense.Mar 9, 2023.

Cost accounting would best be characterized as: serving the needs of both financial and managerial accounting. Which of the following items would NOT be reported on the Statement of Cost of Goods Manufactured?

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