CASE STUDY
List out the objectives of Cost Accounting.
1. Ascertainment of cost
2. Control of cost
3. Reduction in cost
4. Determination of selling price
5. Matching cost with revenue
6. Providing basis for operating policy
2. Control of cost
3. Reduction in cost
4. Determination of selling price
5. Matching cost with revenue
6. Providing basis for operating policy
What is control of cost?
This the second objective of cost accounting is to control the cost so that the maximum and better production at minimum cost may be made possible. The achieve this objective, the techniques of budgetary control and standard costing are adopted.