COST ACCOUNTING
INTRODUCTION TO COST ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It provides the detailed cost data that management needs to control current operations and plan for the future.
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Cost Accounting
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Management Accounting
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Financial Accounting
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Financial Analysis
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Explanation:
Detailed explanation-1: -Cost accounting aims to report, analyze, and lead to the improvement of internal cost controls and efficiency.
Detailed explanation-2: -Cost accounting is a type of cost managerial accounting that aims to capture a company’s whole cost of production by monitoring both variable and fixed costs, such as a lease payment.
Detailed explanation-3: -Cost control is the practice of identifying and reducing business expenses to increase profits, and it starts with the budgeting process. Cost control is an important factor in maintaining and growing profitability.
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