Financial and cost accounting books
HE educators | Pearson UKCost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing the variable costs of each step of production as well as fixed costs, such as a lease expense. Cost accounting is used by a company's internal management team to identify all variable and fixed costs associated with the production process. It will first measure and record these costs individually, then compare input costs to output results to aid in measuring financial performance and making future business decisions. There are many types of costs involved in cost accounting, which are defined below. While cost accounting is often used by management within a company to aid in decision making, financial accounting is what outside investors or creditors typically see. Financial accounting presents a company's financial position and performance to external sources through financial statements , which include information about its revenues , expenses , assets , and liabilities. Cost accounting can be most beneficial as a tool for management in budgeting and in setting up cost control programs, which can improve net margins for the company in the future.
Difference Between Cost Accounting And Financial Accounting
Top 10 Best Management Accounting Books
Skip to main content. Cost Accounting. Management and Cost Accounting 14 Dec More buying choices. Kindle Edition.