Cost Accounting Principles and Practice

by Dr. Sunitha Prabhuram
₹ 300
ISBN Number : 978 - 1- 73039 - 220 - 7

Dr. Sunitha Prabhuram


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Book Overview

Learning Objectives Å To be able to grasp the meaning of cost Å To be able to differentiate between costing, cost accounting and cost accountancy Å To understand the objectives of cost accounting Å To differentiate between financial accounting and cost accounting Å To deeply understand the elements of cost accounting Å To understand the costing systems Å To understand the purpose of inventory systems ACCOUNTING Accounting refers to the chronological recording of transactions. These records are maintained to minimise fraud cases. Besides, it shows the financial position of the company, whether it′s gaining profit or suffering loss. Å It′s the language of business. Å It′s not an end, but a means to end. ACCOUNTING AND ACCOUNTANCY Accountancy is a broad concept consisting of various branches for instance taxation, auditing, accounting, etc. while accounting is just a sub–branch of accountancy