Cost and Managerial Accounting by Guru Pdf
Download Cost and Managerial Accounting by Guru Pdf book free online – from Cost and Managerial Accounting by Guru Pdf book; This note explains the following topics: Cost Accounting : Nature and Scope, Cost Concepts and Classifications, Materials : Purchase, Storage, Pricing and Control, Labour Cost, Overheads : Classification, Allocation and Absorption, Single Costing, Job, Batch and Contract Costing, Process Costing, Operation and Operating Costing, Reconciliation of Cost and Financial
Cost accounting provides detailed cost information to various levels of management for efficient performance of their functions. The information supplied by cost accounting acts as a tool of management for making optimum use of scarce
resources and ultimately add to the profitability of business.
“Management accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and in the dayto-day operations of an undertaking”.
It is basically concerned with presentation of accounting information in a manner which can assist the management in the
creation of policy and in the day-to-day operations of an undertaking. Its aim primarily is to assist the management in performing its functions effectively.
Cost accountancy is a wide term. It means and includes the principles, conventions, techniques and systems which are employed in a business to plan and control the utilisation of its resources. It is defined 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 profitability.