THE IMPORTANCE OF COST ACCOUNTING SYSTEM IN MANUFACTURING INDUSTRIES

INTRODUCTION

Cost accounting is considered as the managerial planning and control activities furnishing management with the necessary accounting tools to plan, control and evaluate operation. The term cost accounting as however published by the institute of cost and management accountant is define as “the application of costing and cost accounting principles, methods and techniques to the science art and practice of cost control and the ascertainment of profit”. It includes the presentation of information derived for the purpose of management decision making.

The basic difference between a merchandized business and a manufacture is that merchant purchases merchandise in a ready – to sell condition whereas the manufacturer produce the good it sells. In a merchandising business the cost of goods available for sale is based upon the cost of purchase in a manufacturing business on the other hand the cost of manufacturing the finished goods, as a result of this, there is the needs for every manufacturing business to be cost conscious in the course of manufacturing goods.

TABLE OF CONTENT

Title page

Declaration

Approval page

Acknowledgement

Abstract.

Chapter one

Introduction

1.1Statement of general problem

1.2Objective of the study

1.3Statement of Hypothesis

1.4Significance of the study

1.5Limitation of the study

1.6An overview of the organization

Chapter two

Literature review

2.1Definition of cost accounting

2.2Standard cost introduction

2.3Variance analysis and classification

2.4Budget and budgetary control

2.5Marginal cost

2.6Break even point analysis

Chapter three

Research methodology

3.1Interview

3.2Population and sample size

3.3Sampling technique

3.4Personal observation

3.5Justification of choice

Chapter four

Data analysis and presentation

4.1Cost accounting department

4.2Financial department

4.3Production department

4.4Output come of hypothesis

Chapter five

Summary, findings, conclusion and recommendation

5.1Summary

5.2Findings

5.3Conclusion

5.4Recommendation

5.5Appendix

5.6Bibliography

5.7Reference

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APA

Kings, S. (2018). THE IMPORTANCE OF COST ACCOUNTING SYSTEM IN MANUFACTURING INDUSTRIES. Afribary. Retrieved from https://afribary.com/works/the-importance-of-cost-accounting-system-in-manufacturing-industries-4392

MLA 8th

Kings, Solomon "THE IMPORTANCE OF COST ACCOUNTING SYSTEM IN MANUFACTURING INDUSTRIES" Afribary. Afribary, 29 Jan. 2018, https://afribary.com/works/the-importance-of-cost-accounting-system-in-manufacturing-industries-4392. Accessed 21 Mar. 2023.

MLA7

Kings, Solomon . "THE IMPORTANCE OF COST ACCOUNTING SYSTEM IN MANUFACTURING INDUSTRIES". Afribary, Afribary, 29 Jan. 2018. Web. 21 Mar. 2023. < https://afribary.com/works/the-importance-of-cost-accounting-system-in-manufacturing-industries-4392 >.

Chicago

Kings, Solomon . "THE IMPORTANCE OF COST ACCOUNTING SYSTEM IN MANUFACTURING INDUSTRIES" Afribary (2018). Accessed March 21, 2023. https://afribary.com/works/the-importance-of-cost-accounting-system-in-manufacturing-industries-4392

THE IMPORTANCE OF COST ACCOUNTING SYSTEM IN MANUFACTURING INDUSTRIES

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