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Academic BookSave 20%

Cost And Management Accounting - II For B.com, By Dr. B.K. Mehta

by Dr. B.K. Mehta

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About

Cost accounting is used internally by management in order to make fully informed business decisions. Unlike financial accounting, which provides information to external financial statement users, cost accounting is not required to adhere to set standards and can be flexible to meet the particular needs of management. As such, cost accounting cannot be used on official financial statements and is not GAAP-compliant. Cost accounting considers all input costs associated with production, including both variable and fixed costs. Types of cost accounting include standard costing, activity-based costing, lean accounting, and marginal costing.

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Product Overview

Cost accounting is used internally by management in order to make fully informed business decisions. Unlike financial accounting, which provides information to external financial statement users, cost accounting is not required to adhere to set standards and can be flexible to meet the particular needs of management. As such, cost accounting cannot be used on official financial statements and is not GAAP-compliant. Cost accounting considers all input costs associated with production, including both variable and fixed costs. Types of cost accounting include standard costing, activity-based costing, lean accounting, and marginal costing.

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₹340

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