About this document
Cost Accounting Fundamentals and Applications by frankolett is a document available to read on EtoBox.
The document discusses key cost accounting concepts and classifications. It defines cost accounting as establishing budgets, standards, and analyzing actual and variances. Costs are classified by nature as direct materials, direct labor, direct expenses and indirect costs. Costs are also classified by function as fixed costs, which do not vary with activity levels, and variable costs, which do vary with production or sales levels. The objectives and benefits of cost accounting are also outlined.
- Author
- frankolett
- Language
- EN