Cost accounting baf

  • What is cost accounting in business finance?

    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..

Cost Accounting is the system of accounting which is concerned with determination of costs of doing something which can be manufacturing or rendering service 
Therefore, Cost Accounting is the application of costing principles, methods and techniques in the ascertainment of costs and analysis of savings or / and 
Whelden defines Cost Accounting as, “Classifying, recording and appropriate allocation of expenditure for determination of costs of products or services and 

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