Tag Archives | Cost Accounting

Various Reports Provided by Cost Accounting Department to its executives

Following reports may be provided by a Cost Accounting Department for the use of its executives: Cost sheets setting out the total cost, analyzed into various elements, giving comparative figures for the previous period and for other plants under the same management.

Importance of cost accounting to business concerns

Management of business concerns expects from Cost Accounting a detailed cost information in respect of its operations to equip their executives with relevant information required for planning, scheduling, controlling and decision making.

Brief note on the evolution of Cost Accounting

Prior to the industrial revolution, businesses were small and characterized by simple market exchanges between individuals and organizations. In those times there was a need of accurate book keeping though not that much of cost accounting.

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