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Full Description
This book introduces, explains and demystifies essential ideas of cost accounting to those who do not have any financial background or training. Lucid and comprehensive, it delineates the cost application of business organizations and corporates and offers an overview of cost control and management in the global context.
The volume:
Discusses fundamental concepts and the application of cost accounting and control;
Contains effective tools for cost ascertainment, analysis, control, monitoring, and resource allocation;
Surveys global corporate practices and recent trends in the domain of cost management and decision-making.
A guide to building cost proficiency and acumen, this book will be a useful resource for business managers and management students, as well as those who deal with cost or financial matters in their daily lives. It will be indispensable for executive and management development programmes (EDPs & MDPs). It is thoroughly updated to reflect the current global trends and real-world cases in the domain of costing, supplemented with a range of learning aids, including figures, tables, and illustrations.
Contents
PART I: COST ALLOCATION; 1. Cost concepts and classification; 2. Activity-Based Costing; 3. Job Costing; 4. Process Costing; PART II: COST CONTROL; 5. Budgetary control; 6. Standard Costing; 7. Responsibility Accounting; PART III: COST DECISION-MAKING; 8. Marginal costing and managerial decision-making; 9. Target Costing
