Question { State Bank Of India SBI, 8205 }

what is cost accounting ?

Answer

cost accounting is the implementation of accounting
tecniques, ideas and methods for the utilisation of capital
or fund in a efficient way while rendering any services or
production in the organisation. In brief cost accounting is
the utilisation of the firms capital in a efficient way so
that the expenses remains less than the revenue, which
ultimately leads the firm in net profit.
Its a tool which is used to control the cost of production
or anything related to money.