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What's the main purpose of cost accounting?

Bring the product cost some profit and include all cost of investment.

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تم إضافة السؤال من قبل Dilliram Rajbhandari , Sales Manager , Prasanna Medical Hall
تاريخ النشر: 2014/08/27
Hujat Ullah Khan
من قبل Hujat Ullah Khan , Group Financial Controller , SAED Alraeda Group

The main purpose of cost accounting is the collection of all costs, summarizing and presenting in such a way that can give you the accurate picture of the organization whole cost structre. And then you will be able to give management the course of action through which you can get the maximum benifits at minimum cost, accurate materials, wip and product costing etc.  

مستخدم محذوف‎
من قبل مستخدم محذوف‎

The main purpose of cost accounting is to determine the manufacturing cost of each product of the company. The cost of the proudct is then used in determination of optimum selling prices. The cost accounting also helps to determine what the present cost is and what it should be in future in case of market driven prices. The cost accounting data is used by management to produce better quality products at minimum possible cost.

مستخدم محذوف‎
من قبل مستخدم محذوف‎

This task is the important task in any company.  It determines your success.

  • It controls the cost of material.

  • It controls the cost of manpower.

  • It controls the cash flow.

  • It controls the selling price.

  • It controls the bidding price (for contracting).

 

SAIF Rehman
من قبل SAIF Rehman , Accountant , Eco Smart Light Trading LLC

Cost Accounting main purpose is to determine the cost of every product and to optimize the selling price of the product or services. Also forecasting the future cost and sales revenues.

Khaled Abdelrehim ACCA DipIFR CMA
من قبل Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

agrees with the two answers

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