Cost accounting vedantu

  • How cost accounting is?

    The four types of cost accounting are standard costing, lean costing, marginal costing and activity-based costing (ABC).
    Why is cost accounting used?.

  • Direct/Traceable costs and Indirect/Untraceable costs.
    Incremental costs and Sunk costs.
    Private costs and social costs.
    Fixed costs and Variable costs.
Cost accounting is done mainly to keep the data and design a business structure that can run on a specific cost. The business entities tend to follow this specific cost when implementing on production. This is known as the Ascertainment of cost. Much of the process is done depending on the analysis.
What is Cost Accounting? Cost accounting is a method of recording, concisely constructing, analyzing, and understanding a company's expenses due to some investment, capital requirements, process, etc.

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