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Cost Accounting
book

Cost Accounting

by K. Alex
February 2012
Intermediate to advanced content levelIntermediate to advanced
756 pages
17h 6m
English
Pearson India
Content preview from Cost Accounting

2

Basic Concepts of Cost

CHAPTER OUTLINE
LEARNING OBJECTIVES

After reading this chapter, you will be able to understand:

  • Cost concepts

  • Classification of costs

  • Types of costing

  • Methods of costing

  • Elements of cost

2.1 INTRODUCTION

Cost accounting is concerned with cost and is therefore necessary to understand the meaning of the term ‘cost’ in a proper perspective. In general, cost means the amount of expenditure (actual or notional) incurred on, or attributable to, a given thing or activity. However, the term cost cannot be defined ...

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Publisher Resources

ISBN: 9789332515642