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What is Cost Accounting: Definition and Scope about?

Cost accounting has evolved over centuries to meet the needs of industry. It grew out of financial accounting and became more important with industrialization and world wars. Cost accounting aims to determine the precise costs of products and services through classification and analysis of expenditures. This allows management to control costs, set prices, and make decisions. The objectives and scope of cost accounting now include cost ascertainment, control, reporting, auditing, and providing information to

Author

Sachin Sawhney

Language

EN