What is Cost Accounting Its nature and objectives
The financial amount that is expand to produce any product or service in the market this financial amount is known as cost. In other words we can say that the expenditure that is done for producing any product or service this expenditure is know as cost The process in which transaction or expenditure is identify record classify,analyse,summarised according to pre-defined terms-conditions ,rules and regulation this process is known as cost accounting. In other words we can say that cost accounting is the process that is use to know total expenditure per unit expenditure of any produc and service Nature of cost accounting. 1-It is a macro part of accounting 2-it is an internal part of accounting 3-it belongs to production and concern activity of production. 4-it is a seperate activity of organisation. 5-it is new branch of accounting Objectives of cost accounting. 1.To find out total expenditure of organisation. 2.To find out pet unit cost of product an...