Meaning of Cost Accounting Previously, cost accounting was merely considered to be a technique for the ascertainment of costs of products or services on the basis of historical data. In course of time, due to competitive nature of the market, it was realized that ascertaining of cost is not so important as controlling costs. Hence, cost ...
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Managerial Accounting: A Vital Role for the Financial Success of a Company The main objective of any company is to earn a profit now and in the future. Profits are earned when payment for goods or services provided exceed the costs incurred by the company. These profits can greatly be enhanced by important decisions made by managers.
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