Assignment KI DUNIYA

Explains cost accounting? Discuss it scopes, advantages and limitations?  Introduction  of  cost accounting  :- Cost Accounting  is a business practice in which we record, examine, summarize, and study the company’s cost spent on any process, service, product or anything else in the organization. This helps the organization in cost controlling and making strategic planning and decision on improving cost efficiency. Such financial statements and ledgers give the management visibility on their cost information.  Management gets the idea where they have to control the cost and where they have to increase more, which helps in creating a vision and future plan. There are different types of cost accounting such as marginal costing, activity-based costing, standard cost accounting, lean accounting. In this article, we will discuss more objectives, advantages, costing and meaning of costs. Meaning of cost accounting :- It is a process via which we determine the costs of goods and s