MBA Finance Question:
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Explain Cost Accounting. What are the objectives of doing it?

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Answer #1
Cost Accounting is the process of classifying and recording of expenditure incurred during the operations of the organization in a systematic way, in order to ascertain the cost of a cost center with the intention to control the cost.

Following are the basic three objectives of Cost Accounting:

1) Ascertainment of Cost and Profitability
2) Cost Control
3) Presentation of information for managerial decision making.

Answer #2
4

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