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What is the cost accounting system?

What is the cost accounting system?

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Question added by Mohammed El Tahir Mohammed Yousif , Finance Manager , Factory of Golden Block Company for Cement Products
Date Posted: 2018/04/07
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Mohammed El Tahir Mohammed Yousif
by Mohammed El Tahir Mohammed Yousif , Finance Manager , Factory of Golden Block Company for Cement Products

A cost accounting system (also called product costing system or costing system) is a framework used by firms to estimate the cost of their products for profitability analysis, inventory valuation and cost control. Estimating the accurate cost of products is critical for profitable operations.  

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