Cost accounting is a type of managerial accounting that focuses on the cost structure of a business. It assigns costs to products, services, processes, projects and related activities.

The Advantages Product Costing Offers in Financial Accounting. Product costing is the process of assigning costs to inventory and production based on the expenses that go into producing or buying ...

The costs in cost accounting are any expenses the company incurs running its business. That includes rent, utility bills, wages, raw materials, supplies, equipment, maintenance, outsourced ...

Cost accounting is a specialized branch of managerial accounting that provides detailed information about each individual direct and indirect cost incurred on the production line in relation to ...

Product costing is a methodology associated with managerial accounting, i.e., accounting intended to serve management in an operational context rather than to measure corporate performance as such ...

There are two basic types of costs in cost accounting: fixed and variable. This information is then used by management to set product prices based on product costs, allowing them to find the best ...

Cost accounting considerations: Production-based enterprises need to develop specific cost accounting systems. The system should enable the enterprise to develop a cost and revenue analysis for each ...

The Financial Accounting Standards Board’s recently issued accounting standards update on how to account for the production costs of movies and television episodes provides more clarity on how to deal ...

Cost modeling focused on effective managerial decision support, such as Resource Consumption Accounting (RCA), improves the quality and availability of cost and resource capacity information for ...

Absorption costing is one of two accounting methods that companies must choose. Here is a look at how it works and compares with variable costing, the other option.

Absorption costing is an accounting method that captures all of the costs involved in manufacturing a product when valuing inventory.

You drop a product when it loses money. Simple. But, as with most “simple” things, it’s always a good idea to apply a little extra thought. Going back to your cost accounting course in college, you ...