CA Inter Costing Full Course By CA Dani Khandelwal
CA Inter Costing
CA Inter Costing ‘Accounting is a business language,’ says the author. This language can be use to communicate financial transactions and their outcomes.
Cost accounting and management accounting are two key accounting words that are use to control and establish the policies of a company.
Both have different styles and are utilise for various purposes. Let’s have a look at the important keys.
Cost accounting deals with the calculation and pricing of costs and expenses to purchase or produce something.
It relates to calculation per unit cost using different costing techniques. Its primary purpose is to facilitate managers in decision making.
The following are the major functions of cost accounting:
Budgeting: Various budgets are generate in cost accounting to demonstrate cost, revenue, profit, production capacity and efficiency of equipment and machinery, as well as labour efficiency.
Because reports are not unnatural by the norms of generally accept Accounting Principles. The budget is design in a scientific and systematic manner that is typically unique to the organisation (GAAP).
For external reporting and internal profit measurement, classify and break down costs. Because expenses are determined at such a fine level, paying from unprofitable things is simple.
The provision of suitable information for decision-making, planning, cost control, and performance evaluation is the focus of management accounting.
Data concerning a company entity’s operations is transform into information, knowledge, and wisdom via management accounting. This goes a level beyond cost accounting.
Management accounting investigates the causes of profit or loss and the elements that influence efficiency in order to aid decision-making. As a result, cause and effect is a crucial aspect of managerial accounting.’
Faculty About (CA Inter Costing) By- Prof Dani Khandelwal
Prof Dani Khandelwal is a Chartered Accountant and he practices as a global value authority. A well known college among. He is a value line worker who conducts study on monetary management.
(Student says Dani Ki cost accounting just because his method of study is so simple ).