Cost accounting is a branch of accounting that focuses on recording, analysing, and reporting costs associated with producing goods or services. The primary objective of cost accounting is to provide accurate and relevant information to help managers make better decisions related to cost management, pricing, budgeting, and performance evaluation.
Cost Card
A cost card is a document that provides detailed information about the costs of producing a particular product or providing a service. It is used in cost accounting to track the costs associated with the production of a specific item, such as a manufactured product or a service.