Cost Accounting
Cost Accounting 
Business Solution
1. Vouching
2. Journal Entry
3. Bank Reconciliation
4. Party Reconciliation (Debtors & Creditors)
5. Sales, purchase, payment, receipt, debit note, credit note
6. Inventory
7. Costing
8. Cost centres (project wise)
9. Preparation and finalisation of P/L & B/s…etc various things
COST ACCOUNTING
A Costing, or cost accounting, is a method of determining a company’s production costs. This type of accounting looks at both variable and fixed costs incurred during the production process. Companies use cost information to make informed business decisions about whether each area of production is financially effective and efficient.
The internal management of an organization carries out costing activities, and, unlike other forms of accounting, is not observed by external customers. As a result, there are no set standards for cost accounting to meet, and it has more flexibility than other types of accounting.
Categories of business expenses
There are a few different categories of expenses that cost accounting looks at. These expenses include:
Variable Cost: This type of expense is that varies depending on the company’s needs and usage during the production process. For explanation, expenses incurred to produce more inventory to meet the demands of a busy season would be considered a variable cost.
Fixed Costs: Fixed costs are expenses that do not change regardless of the level of production. For explanation, the monthly payment for the lease of a manufacturing building is considered a fixed cost.
Direct Costs: These costs are directly related to the manufacturing of a product. For explanation, employee salaries for a company’s assembly line workers are a direct cost.
Operating Costs: This type of expense refers to the daily operation of a company. For explanation, the cost of equipment needed to make a product is an operating cost.