Importance of Cost Accounting

Business Habit ⋅ @businesshabit ⋅ Oct 25, 2014

Now this present business situation across the world the importance of cost accounting is badly required. Economy and this modern social time each and every sector cost accounting is badly needed. The importance of cost accounting as follows:

* Determination of cost

* Comparative analysis of cost

* Determination of selling price

* Cost control

* Economy of cost

* Continuous discussion of cost

* Identification of profitable goods

* Determination the causes of cost variance

* Preparation of budget

* Justification of efficiency

* Determination of quoted price

* Control system of account

* Development of organizational structure

* Incentive wages

* Determination of maximum production level

* Prevention of falsification and frauds

* Advantage of creditors and investors

* Preparation of cost sheet

* Importance as a subject study

* Necessity in different fields

These are mostly thinkable advantages of cost accounting :)

Preveius Address: Importance of Cost Accounting

Category and Tags

More stories by Business Habit

Down: Facebook, Instagram, Messenger: Massive outage caused by meta platforms that abruptly stop functioning

It looks that parent company Meta is experiencing a significant outage that has affected Facebook, Instagram, and Messenger.Users discovered that they couldn't load the websites or apps normally. Affected users discovered that Instagram would not fun

Elon Musk lost the Richest person's crown! Who behind ?

World's Richest Man: For the first time since 2021, Amazon.com Inc. founder Bezos, 60, has topped Bloomberg's ranking of the richest people.Elon Musk is suddenly under pressure. For ...

Just when 5G network deployment is almost complete, telcos are already discussing "5.5G."

Spain's BARCELONA The deployment of 5G wireless mobile networks has not yet been completed by telecom providers. Nevertheless, leaders of significant carriers are already discussing the development of "5.5G," or "5G Advanced," technology.At the Mobil

Google Gemini's product lead withdraws from social media following an unsettling AI product launch that resulted in abuse

Important PointsJack Krawczyk, the Gemini Product Lead, has deleted content from his social media accounts in response to a recent wave of hostility.Elon Musk, the owner of social networking platform X, among other public figures and users have been

VR apps are tried in emergency evacuation drills at Japanese universities

In the Japanese prefecture of Fukushima in the northeast, a disaster evacuation drill utilizing an augmented reality app was conducted on Sunday. At an Iwaki City mall, about 110 locals and students gathered to test ...