Takshila Learning - Online Tutorials

What is Cost and Management Accounting Video Lectures - CMA Foundation INTRODUCTION TO COST AND MANAGEMENT ACCOUNTING Cost and management accounting  is a type of accounting that aims to maximize profit by managing revenues and expenses and providing data and reports that managers can use to inform their long-term profit and growth goals and objectives.   Meaning of Cost Cost is the monetary value of the utility that has yet to be obtained from the resources employed by the company to generate revenue. In plain terms, the cost is the benefit we expect to receive in the future from an asset or assets, whether we use them for business purposes or sell them in an arm's length transaction.   WHAT IS COST ACCOUNTING? Essentially, cost accounting  is the act of monetizing outflows of cash or losses of advantages in relation to a certain part of the business for which the user requires information that is primarily used in the decision-making process. It is a type of cost accounting that