Cost accounting

 Introduction of cost accounting

Meaning of cost

Anything which is spends on manufacturing or rendering service/proving service

Meaning of cost accounting

Cost accounting refere to recording of cost

 Classification of cost 

On the basis of behaviour

✓variable cost

✓semi variable cost

✓fixed cost 

 Period and product cost

On the basis of elements

✓material

     •direct material

     • indirect material

✓ Labour

     •direct labour

     • indirect labour

✓expense

     •direct expense

     •indirect expense

    

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Part 1 like it next introduction s in cost accounting