Cost Accounting Has The Following Features:
- Cost accounting is the process of accounting for cost.
- It records income and expenditure relating to the production of goods or services rendered.
- It provides suitable data for future estimation.
- It is concerned with cost ascertainment and cost control.
- It establishes standards so that actual cost can be compared with the standards to find out variances.
- It involves preparation and presentation of periodical cost statement for managerial decision making.
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