Industrial Cost Accounting
11/27/2021 · Tuğran Külahoğlu
Tuğran KÜLAHOĞLU /
MMO Bursa Branch, 11 May 2010
In its broadest sense, the concept of cost encompasses all the sacrifices made in order to achieve a goal and/or to acquire an object. (www.kpss.6te.net)
In order to calculate cost, these sacrifices must be measurable in monetary terms.
Determining and monitoring the composition of costs arising in relation to the goods and services produced by a business is only possible through the existence of an effective cost accounting system.
In cost accounting, various techniques and methods may be applied in accordance with certain principles to determine costs. By using a cost accounting system suited to its own structure, a business can determine the costs of the goods and services it produces;
Calculate unit costs,
Control expenditure,
Draw up plans for the future,
Make swift decisions in the business’s best interests,
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