INTERVIEW QUESTIONS ACCOUNTS COST ACCOUNTING DETAILS

Question: "cost accounting has become an essential tool of management "- What is your opinion

Answer: "Cost Accounting" in simple meaning costing of the product for the market. But in modern market (which is full of big competitors) launching any new product in the market have to take necessary and minded steps which gives spread in the whole market and ofcourse also in the consumers eyes.

"Cost Accounting" in simple meaning costing of the product for the market. But in modern market (which is full of big competitors) launching any new product in the market have to take necessary and minded steps which gives spread in the whole market and ofcourse also in the consumers eyes. Source: CoolInterview.com

Earlier cost accounting's meaning was just determining the cost of a particular product and classification of the same as per it's nature or behavior. But in the modern context cost accounting means not mere determining the cost of the product but also includes project costing, budgeting, decision making, project financing . all these are very important aspects from the company's management point of view. As cost accounting facilitates all these things cost accounting today is becoming an essential tool of management Source: CoolInterview.com

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