Cost accounting 2nd year
Understand the Problem
The user is mentioning "cost accounting 2nd year". It is ambiguous what they are asking. I will class this as a miscellaneous question.
Answer
Cost accounting determines unit costs, overhead, and profitability, aiding pricing and decision-making.
Cost accounting involves determining the cost per unit, overhead absorption, and division-wise profitability. It aids in setting prices, assessing product profitability, and provides data for management decisions.
Answer for screen readers
Cost accounting involves determining the cost per unit, overhead absorption, and division-wise profitability. It aids in setting prices, assessing product profitability, and provides data for management decisions.
More Information
Cost accounting is a tool used by businesses to understand the costs associated with producing goods or services. It is a subset of managerial accounting.
Tips
A common mistake is confusing cost accounting with financial accounting. Cost accounting is primarily for internal use by management, while financial accounting is for external reporting.
Sources
- SYLLABUS Class – B.Com II Year (All) Subject: Cost Accounting - rccmindore.com
- Bcom 2nd year cost accounting unit 1 - UNIT – I INTRODUCTION TO ... - studocu.com
- COST ACCOUNTING NOTES.docx - kimsbengaluru.edu.in
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