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Essay

The Meaning of Cost Accounting

Essay specific features

 

Issue:

Business

 

Written by:

Dixie T

 

Date added:

March 4, 2017

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1358

 

Was viewed:

2779 times

 

Rating of current essay:

 
Essay content:

Due to the technological developments in all fields, cost reduction has also come within the ambit of cost accounting. Cost accounting is, thus, concerned with recording, classifying and summarizing costs for determination of costs of products or services, planning, controlling and reducing such costs and furnishing of information to management for decision making...
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In general, cost means the amount of expenditure (actual or notional) incurred on, or attributable to a given thing. However, the term cost cannot be exactly defined. Its interpretation depends upon the following factors: • The nature of business or industry • The context in which it is used 1...
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