Cost accounting
Understand the Problem
The question refers to the topic of cost accounting, which encompasses the methodologies and practices used to track, record, and analyze costs associated with an organization's operations. The user may be seeking information or clarification related to this accounting field.
Answer
Cost accounting tracks and analyzes costs related to production and operations.
Cost accounting is a managerial accounting process focused on tracking, analyzing, and reporting both fixed and variable costs associated with a company's production and operations.
Answer for screen readers
Cost accounting is a managerial accounting process focused on tracking, analyzing, and reporting both fixed and variable costs associated with a company's production and operations.
More Information
Cost accounting helps businesses understand their cost structure, which can improve efficiency and profitability. It includes various types and methods for different costing scenarios.
Sources
- Cost Accounting: Definition and Types With Examples - Investopedia - investopedia.com
- Cost Accounting: Everything You Need to Know - Fyle - fylehq.com
