Fundamental objective of cost accounting

Описание: The fundamental objective of cost accounting is to provide detailed information about the costs associated with producing goods or services. Cost accounting is a crucial aspect of management accounting, as it enables organizations to make informed decisions about budgeting, cost reduction, and investment. In this video, we will explore the main function of costing, which is to ascertain the cost of goods or services, and how it contributes to cost control and decision-making. We will also discuss the importance of cost ascertainment, costing systems, and standard costing in achieving the objectives of cost accounting. By understanding the principles of cost accounting, individuals can gain valuable insights into financial accounting, managerial accounting, and personal finance, which can be applied in various contexts, including project management and investing. This video is designed to provide a comprehensive overview of cost accounting, making it an ideal resource for students, professionals, and anyone interested in accounting, including those preparing for CA inter or CA final exams.

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