Cost Accounting

Cost Accounting is the branch of accounting which is used to measure, record, allocate and summarise cost at various stages of production cycle whether it is fixed or variable cost. Cost Accounting is an invaluable tool for accountant in estimating the future cost and building various cost control techniques.

As this branch of accounting helps in identifying the cost of the product, it would be easier for the management to decide how much price to charge from the customer. Apart from this, the management can decide whether it has sufficient strength to give tough competition to the rivals over the base of cost differentiation. If the company cannot compete on the basis of lower cost, then it would have to go for differentiation strategy. This enables the company to charge higher prices because no other rival offers the same quality product.

Contents
Financial Ratios Accounting Cycle Accounting Principles Financial Accounting Basics Financial Statements Reporting Bad Debts Current Assets Long-term Assets Voucher System Partnership Depreciation Work Sheet Difference Between Reserve and Fund Accounting for Leases Capital reduction and reconstruction Absorption of Company Amalgamation Accounting for Installment Sales Basis of Recording Profit and Loss Branch Accounting Construction Contracts Revenue Recognition Accounting for Groups Financial Analysis Events After the Balance Sheet Date Deferred Tax Cost Accounting Difference Between Cost Accounting and Financial Accounting Objectives of Cost Accounting Scope of Cost Accounting Classification of Costs Methods of Costing Absorption Costing Pre-determined Overhead Rate Over/ Under Absorbed Overheads Marginal Costing Advantages, Benefits, Pros of Absorption Costing Disadvantages/ Drawbacks of Absorption Costing Advantages of Marginal Costing Disadvantages of Marginal Costing Joint Product Costing Process Costing Practical Difficulties in Installing a Cost Accounting System Elements of Cost Re-Ordering Level Economic Order Quantity EOQ Danger Level Minimum Level Stock Maximum Stock Level Bin Card Stores Ledger Uniform Costing Cost Ratios Activity Based Costing (ABC) Throughput Accounting Relevant Cost Break Even Analysis Standard Costing Inventory Management Payroll Accounting Royalty Accounting Statistics Master Budget Salary Income Microsoft Excel Tutorial Other Topics Share or Stock Valuation Model Financial Management Topics Kinds of Endorsement Letter of Credit, Kinds and Its Advantages/ Utilities Modern Functions of a Commercial Banks Difference Between Secured And Unsecured Loan