Importance of Cost Accounting

                                                     

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 :)


Category and Tags
More stories by
Elon Musk suggests naming a city on Mars Terminus

Photo:BusinessHabitElon Musk, the owner of SpaceX, Tesla, and the small blog writing site X (formerly Twitter), wants to establish a human settlement on Mars in the next few years. H...

China is building supercomputers in space with AI satellites

China is building its first supercomputer network in space using AI-powered satellites. The country has already launched 12 AI-powered satellites to build a network of supercomputers in space. The supercomputers will be operated by the country's stat

Baidu is introducing new technology, AI will extract money from pet sounds

The beloved dog is suddenly barking. Many people try to understand why it is barking. However, the long-standing curiosity of understanding the mind of animals through sounds can now become a reality with the help of...

Do you know what percentage of Microsoft's code is written with AI?

A significant portion of Microsoft's code is now being written using artificial intelligence (AI), said Satya Nadella, the company's chief executive officer (CEO). At the recent 'LamaCon' AI developer conference held in Menlo Park, California, USA, S

Bangladesh's economy rises to the 2nd largest in South Asia and the 9th largest in Asia.

With a GDP of USD 450.05 billion in 2024, Bangladesh's economy has grown to become the second largest in South Asia and the ninth largest in Asia, according to the Asian Development Bank's Basic Statistics 2025 series. With statistics from 46 econom

Follow Business Habit on Facebook, Twitter