Cost Accounting

Cost accounting is the process of tracking cost of products and services produce by the company. Cost accounting calculate the cost of labor,material and factory overhead to determine the cost of goods and services. Manger use cost accounting to support decision making to reduce a company’s cost and improve its profitability. Cost account don’t need to follow the standards such as GAAP etc.Financial accounting information is communicated internally and externally but cost accounting information are primarily for the use of internal managers.

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