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Cost Accounting Assignment #1

This document outlines the topics to be covered in a cost accounting assignment, including fundamentals of cost accounting such as the relationship between cost accounting and other fields of study. It also covers cost terms, concepts and classifications, explaining how costs can be classified by nature, timing, financial statements, behavior, inventory types, traceability, managerial influence, and time period.

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Chen Hao
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71 views1 page

Cost Accounting Assignment #1

This document outlines the topics to be covered in a cost accounting assignment, including fundamentals of cost accounting such as the relationship between cost accounting and other fields of study. It also covers cost terms, concepts and classifications, explaining how costs can be classified by nature, timing, financial statements, behavior, inventory types, traceability, managerial influence, and time period.

Uploaded by

Chen Hao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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COST ACCOUNTING ASSIGNMENT # 1

FUNDAMENTALS OF COST ACCOUNTING

1. Cost Accounting: Information for Decision Making


2. Accounting and the Value Chain
3. Accounting Systems
4. Comparison of Financial Acctg. And Management Accounting
5. Relationship of Cost Acctg. To other fields of study
6. Scope of Modern Cost Acctg.
7. Cost Management Framework
8. Organizational Environment
9. Ethical Issues and Guidelines.

COST TERMS, CONCEPTS AND CLASSIFICATIONS

1. Nature of Cost, Cost Pools, Cost Objects, and Cost Drivers


2. Classification of costs
a. by nature of management function
b. According to the timing recognition as expense
c. cost classification on financial statements
d. for predicting cost behavior
e. classification by types of inventory
f. according to traceability to cost objective
g. according to Managerial Influence
h. cost terminologies used for planning and control
i. according to time frame perspective
j. Time period for which the cost is incurred
k. classification for Decision making other analytical purposes

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