Cost Accounting

Assignment
On
Cost Accounting
Course No. MGT 405



Prepared by
Sujon Chandra Sarkar
Roll No. 251
Section- B
12th Batch

Department of Management Studies
University of Dhaka

Table of Contents:

Serial No. Contents Page No.

01.
Cost Accounting Meaning
03-04
Objectives
Scope

02. Cost Accounting versus Financial Accounting
05

03.
Advantages of Cost Accounting 06

04.
Limitations of Cost Accounting 06

05.
Characteristics of an ideal costing System 07

06.
Steps for installation of a Costing system 08

07.
Difficulties in installing a Costing system 09

08.
Methods of Costing 10-11

09.
Techniques of Costing 11

10.
Cost Object Meaning 12
Examples

11. Direct Cost versus Indirect Cost 12

12. Factors Effecting Classifications of Cost 13

13. Cost Behavior Meaning 13
Examples

14. Cost Driver Meaning 14
Examples

15.
Fixed Cost versus Variable Cost, Semi Variable Cost 14

16.
Relevant Range 15

17.
Cost Centre versus Profit Centre 15

19.
Bibliography 16

Cost Accounting:

Cost accounting, as a tool of management, provides management with detailed records of the cost relating tom products, operations of functions. Cost accounting refers to the process of determining and accumulating the cost of same particular product or activity. It also covers classification, analysis and interpretation of costs. The costs so determined and accumulated may be the estimated future costs for planning progress.

Cost accounting is a quantitive method that accumulates, classifies, summarizes and interprets information for these major purposes such as:

1. Product as service costing
2. Operation planning and control
3. Non machine decision

It now refers to the gathering and providing of information for decision needs for/ of all sets. That part of accounting system which measures cost for the purpose of management decision making and financial reporting is called cost... [continues]

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