Cost Accounting -Types

partnersal 9.0 antwost Types of Accounting :- ( Branches of Accouning) to 222,019 is e I Financial Accounting closs I I Managment Accounting abooe to Cost Accounting 20bivag what ic Cost Accounting & 7 daise 7 It is the process of Asscertainment of cost of production IT A lottred Cost of P rodu ction = Material cast + labor + other expenses + overhead tool 1. cost : Value of asset 2. Costing i The technique of calculating cost 3. Costing Accounting : It is the process of classifying, recording, allocating T reporting the castof expenditure for dele mining products or services

objectives of cost accounting: = 1. To ascertain cost 2. To control cost 3. TO determine 8 selling price 4. TO measure efficency 5 TO control and reduce wastages Functions of Cost Accounting :- 1. Helping the prize fixation 2. Protecting the in terest of investors 3. Serving as a tool For planning & budgeting Advantages ofcost accounting 1. Decission making 2. cost control pricing decissi ios 3. 4. foman e evaluation Peter 5. Budg eting T Fore casting 6. Inventory valuation 7. cost allocation 8. Identifying profitable

Feactres of cast Accounting :- englis 1. It is a process of Accounting for cast 2. It records all expenditure relating to product of goods & services transportally A 3. It provides statistical data on the basis of which future estimates are prepared and quotations are submitted. 4. It is concerned with cost assertainment cost control To 120 Scope + of Cost Accounting:- 9 1. recording 2. Cost allocation 3. cost ascertainmest 4. cost analy sis 6. cost comparisons 6. cost control 7. cost audit 8. Cost reporting