COST ACCOUNTING
„The establishment of budgets, standard costs and actual costs of operations, activities or products; and
the analysis of variances, profitability, or the social use of funds’
The accounting system of any organization is the foundation of the internal financial information
system. Management needs a variety of information to plan, to control and to make decisions.
Information regarding the financial aspects of performance is provided by the costing system.
„The establishment of budgets, standard costs and actual costs of operations, activities or products; and
the analysis of variances, profitability, or the social use of funds’
The accounting system of any organization is the foundation of the internal financial information
system. Management needs a variety of information to plan, to control and to make decisions.
Information regarding the financial aspects of performance is provided by the costing system.
