Cost and management accounting have similar objectives. The main objective of cost is to provide the information required to perform internal management functions effectively. This objective is achieved through the achievement of the following sub-objectives: Cost ascertainment  Cost and management accounting ...

Cost “Accounting is the application of accounting methods and techniques to identify, collect, classify, record, and analyze costs incurred in the production of a product or provision of service. It forms part of the internal management information system, with its ...