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What Do You Understand By Cost Accountancy? What Are The Objectives Of Cost Accountancy?

Answer»

Cost accountancy is the application of Costing and Cost ACCOUNTING principles, METHODS, and techniques to the science, art and practice of cost CONTROL and the ASCERTAINMENT of PROFITABILITY as well as the presentation of information for the purpose of managerial decision making. 

Following are the objective of cost accountancy:

  • Ascertainment of cost and profitability with the help of various principles, methods and techniques.
  • Cost control
  • Presentation of information to enable managerial decision making.

Cost accountancy is the application of Costing and Cost accounting principles, methods, and techniques to the science, art and practice of cost control and the ascertainment of profitability as well as the presentation of information for the purpose of managerial decision making. 

Following are the objective of cost accountancy:


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