Cost Accounting
- Saturday, January 3, 2009, 4:27
- Finance
- 1,817 views
- Add a comment
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.
(No Ratings Yet)
Loading ...About the Author
Adam has written 372 stories on this site.
Related Tutorials & Articles
Financial Accounting
Financial accounting is the field related with the accountancy. It is just like a process of converting financial data into financial information. It deals with recording, summarizing and presenting the financial data of the organizations in such way that it could provide information about the position of the entity business to the stakeholders which includes...Read more
Financial accounting is the field related with the accountancy. It is just like a process of converting financial data into financial information. It deals with recording, summarizing and presenting the financial data of the organizations in such way that it could provide information about the position of the entity business to the stakeholders which includes...Read more
Financial Ratio Analysis and Formulas
Financial ratio analysis is the calculation and comparison of ratios which are derived from the information in a company’s financial statements. The level and historical trends of these ratios can be used to make inferences about a company’s financial condition, its operations and attractiveness as an investment. Financial ratios are calculated from one or more pieces...Read more
Financial ratio analysis is the calculation and comparison of ratios which are derived from the information in a company’s financial statements. The level and historical trends of these ratios can be used to make inferences about a company’s financial condition, its operations and attractiveness as an investment. Financial ratios are calculated from one or more pieces...Read more
Accounting Cycle
Accounting cycle is a sequence of accounting procedures which are used to record, classify and summarize accounting information. The accounting cycle begins with the initial recording of business transactions and concludes with the preparation of formal financial statements summarizing the effect of these transactions upon the assets, liabilities and owner’s equity of the business. The term “cycle”...Read more
Accounting cycle is a sequence of accounting procedures which are used to record, classify and summarize accounting information. The accounting cycle begins with the initial recording of business transactions and concludes with the preparation of formal financial statements summarizing the effect of these transactions upon the assets, liabilities and owner’s equity of the business. The term “cycle”...Read more
Downsizing
Reducing the size of the organization or reducing number of employees in the organization is called downsizing. Downsizing is a critical decision take by organization and human resource management have important role to play in this context. This pattern seems to represent a “churning” of employees. Organizations were laying off employees with outdated skills or cutting...Read more
Reducing the size of the organization or reducing number of employees in the organization is called downsizing. Downsizing is a critical decision take by organization and human resource management have important role to play in this context. This pattern seems to represent a “churning” of employees. Organizations were laying off employees with outdated skills or cutting...Read more
The Strategic Planning Process
Strategic planning is the process of formulating, implementing and evaluating strategies to support the cross functional decision of the company. In today’s world, everything is changing with unexpected speed. Competition,Innovation,polices,environment,technology and human resource are some major concerns of the company. Companies following the traditional ad-hoc,forecasting methods to compete in the market will not work for long...Read more
Strategic planning is the process of formulating, implementing and evaluating strategies to support the cross functional decision of the company. In today’s world, everything is changing with unexpected speed. Competition,Innovation,polices,environment,technology and human resource are some major concerns of the company. Companies following the traditional ad-hoc,forecasting methods to compete in the market will not work for long...Read more
Write a Comment
Gravatars are small images that can show your personality. You can get your gravatar for free today!
