Implication of Cost Accounting in a Firm

Running head: COST ACCOUNTING
Cost Accounting
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1COST ACCOUNTING
Executive Summary
The main focus of this conducted assignment is regarding the implication of cost accounting
in a firm. The objectives of cost accounting with the evaluation and the measurement of the
various cost has been ascertained in this assignment. The assignment also deals with the key
factors which are the calculations for helping the managers of the company in making some
of the vital decisions.

2COST ACCOUNTING
Table of Contents
Introduction:...............................................................................................................................3
Discussion:.................................................................................................................................4
Answer to Question 1.............................................................................................................4
Answer to Question 2.............................................................................................................7
Answer to Question 3.............................................................................................................8
Answer to Question 4...........................................................................................................10
Answer to Question 5...........................................................................................................11
Answer to Question 6...........................................................................................................13
Conclusion................................................................................................................................16

3COST ACCOUNTING
Introduction:
The aim of the assignment deals with the cost accounting where the detailed
definition of cost has been depicted in the conducted study. Effective allocation of the
overheads in the cost management plays significant role in determination of the overall cost
incurred by the firm. In this case study the details regarding the cost driver and the
implication of it in the overhead system has been disclosed accordingly in this study.
The details regarding the main objectives of cost accounting and the implication of it
in the management system of the company has been disclosed in the process. The difference
between the financial accounting and the cost accounting have been depicted and further
significance cost accounting at the time of preparation of the financial report has been
disclosed accordingly in this requirement.
In this assignment the main focus is regarding the preparation of the cost sheet of the
firm along with the evaluation of the variance with breakeven point both in terms of the units
as well as in value. Further in-depth interpretation of the conducted analysis regarding such
evaluation from the provided facts and figures have been recognized and presented
accordingly in this conducted study.