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A Major Purpose of Cost Accounting Is To: Provide Accurate and Timely Cost Information for Effective Decision-Making
Author: Dr. Evelyn Reed, CPA, CMA, PhD – Professor of Accounting, University of California, Berkeley. Dr. Reed has over 20 years of experience in both academic and industry settings, specializing in managerial accounting and cost accounting. Her research focuses on the impact of cost accounting systems on organizational performance.
Publisher: Journal of Managerial Accounting (JMA) – A highly respected peer-reviewed academic journal published by the Institute of Management Accountants (IMA), a leading professional organization for management accountants worldwide. JMA is known for its rigorous editorial process and publication of high-quality research in the field of management accounting.
Editor: Professor David Chen, PhD – Associate Editor, Journal of Managerial Accounting. Professor Chen is a renowned expert in cost management and has extensive experience in both academic research and industry consulting.
Keywords: a major purpose of cost accounting is to, cost accounting, cost management, managerial accounting, decision making, profitability analysis, cost control, efficiency improvement, pricing strategies, inventory management
Introduction: Understanding the Core Role of Cost Accounting
A major purpose of cost accounting is to provide accurate and timely cost information for effective decision-making. This seemingly simple statement encapsulates a crucial function within any organization, regardless of size or industry. Cost accounting is far more than just tracking expenses; it's a powerful tool that drives strategic planning, operational efficiency, and ultimately, profitability. This article delves deep into the multifaceted purposes of cost accounting, exploring its significance in various organizational contexts and demonstrating its vital role in achieving business objectives.
1. A Major Purpose of Cost Accounting Is To: Determine Product Costs and Profitability
One of the most fundamental purposes of cost accounting is to accurately determine the cost of producing goods or services. This involves meticulously tracking direct materials, direct labor, and manufacturing overhead, allowing businesses to calculate the cost per unit. Understanding unit cost is critical for setting appropriate selling prices that ensure profitability. Without accurate cost data, pricing decisions become guesswork, potentially leading to underpricing (leaving money on the table) or overpricing (reducing competitiveness). A major purpose of cost accounting is to, therefore, bridge this gap between cost and revenue, allowing for informed pricing strategies.
2. A Major Purpose of Cost Accounting Is To: Enhance Cost Control and Efficiency
A major purpose of cost accounting is to facilitate effective cost control and efficiency improvements. By systematically analyzing cost data, businesses can identify areas of waste, inefficiency, and unnecessary expenditures. This analysis can reveal opportunities for process optimization, reduction of material waste, and improvements in labor productivity. Cost accounting systems often employ variance analysis, comparing actual costs against budgeted or standard costs, highlighting deviations that require investigation and corrective action. This continuous monitoring and improvement cycle is essential for maintaining a competitive edge in today’s dynamic market.
3. A Major Purpose of Cost Accounting Is To: Support Strategic Decision-Making
A major purpose of cost accounting is to equip management with the information needed to make informed strategic decisions. Cost accounting data is instrumental in evaluating potential new product lines, expansion projects, and mergers and acquisitions. By projecting costs associated with these ventures, businesses can assess their financial viability and make data-driven choices that align with overall strategic goals. This analytical capability allows companies to avoid costly mistakes and invest resources wisely.
4. A Major Purpose of Cost Accounting Is To: Improve Inventory Management
A major purpose of cost accounting is to optimize inventory management. Accurate costing methods, such as FIFO (First-In, First-Out) and LIFO (Last-In, First-Out), are crucial for determining the value of inventory on hand. This information is essential for financial reporting and tax purposes. Moreover, by analyzing inventory costs and turnover rates, businesses can identify potential issues such as obsolete stock or excessive holding costs, allowing them to adjust their procurement and inventory control strategies.
5. A Major Purpose of Cost Accounting Is To: Aid in Performance Evaluation
A major purpose of cost accounting is to facilitate performance evaluation at various levels within the organization. By comparing actual costs with predetermined budgets or standards, management can assess the efficiency of individual departments, production lines, or even employees. This information is valuable for identifying areas requiring improvement, rewarding high-performing teams, and addressing performance shortfalls. It fosters accountability and incentivizes cost-conscious behavior throughout the organization.
6. A Major Purpose of Cost Accounting Is To: Facilitate Budgeting and Forecasting
A major purpose of cost accounting is to inform the budgeting and forecasting process. By analyzing historical cost data and projecting future trends, businesses can create realistic budgets and financial forecasts. This forward-looking approach allows for proactive planning, resource allocation, and risk management. Accurate cost information is essential for securing financing, negotiating contracts, and making long-term investment decisions.
7. A Major Purpose of Cost Accounting Is To: Enhance Internal Control and Risk Management
A major purpose of cost accounting is to strengthen internal control systems and mitigate financial risks. Robust cost accounting procedures help prevent fraud, embezzlement, and other financial irregularities. By implementing checks and balances, and regularly auditing cost data, businesses can ensure the accuracy and reliability of their financial information. This contributes to a stronger corporate governance structure and increased investor confidence.
8. A Major Purpose of Cost Accounting Is To: Support Government Reporting and Compliance
Depending on the industry and regulatory environment, a major purpose of cost accounting is to comply with government reporting requirements. Accurate cost data is often needed for tax filings, regulatory submissions, and other compliance-related activities. Failure to maintain accurate cost records can result in penalties, legal issues, and reputational damage. Cost accounting provides the necessary framework for meeting these obligations efficiently and effectively.
Conclusion
In conclusion, a major purpose of cost accounting is to provide a comprehensive framework for effective cost management and strategic decision-making. It goes beyond simple expense tracking to provide valuable insights into profitability, efficiency, and overall organizational performance. By leveraging the power of cost accounting, businesses can achieve significant improvements in operational effectiveness, enhance their competitive advantage, and ultimately, achieve sustained profitability and growth.
FAQs
1. What are the different types of cost accounting methods? Several methods exist, including job-order costing, process costing, activity-based costing (ABC), and lean accounting, each suited to different types of businesses and products.
2. How does cost accounting differ from financial accounting? Financial accounting focuses on external reporting to stakeholders, while cost accounting is primarily concerned with internal management decision-making.
3. What is the role of technology in modern cost accounting? Software and automation significantly enhance accuracy, speed, and efficiency in cost data collection, analysis, and reporting.
4. What are the challenges of implementing a robust cost accounting system? Challenges include the cost of implementation, data accuracy, resistance to change, and the need for skilled personnel.
5. How can cost accounting help small businesses? Even small businesses can benefit from simple cost accounting methods to track profitability, manage inventory, and make informed pricing decisions.
6. What are some key performance indicators (KPIs) used in cost accounting? KPIs include unit cost, cost of goods sold (COGS), gross profit margin, inventory turnover, and various efficiency ratios.
7. How does activity-based costing (ABC) differ from traditional costing methods? ABC assigns overhead costs based on activities that drive those costs, providing a more accurate cost allocation compared to traditional methods.
8. What is the importance of variance analysis in cost accounting? Variance analysis helps identify and analyze differences between planned and actual costs, enabling corrective actions and process improvements.
9. How can cost accounting contribute to sustainability initiatives? By tracking environmental costs associated with production, cost accounting can help businesses identify and implement eco-friendly practices.
Related Articles:
1. The Impact of Activity-Based Costing on Pricing Decisions: This article explores how ABC improves pricing accuracy by more precisely allocating overhead costs.
2. Cost Accounting for Service Industries: This piece details the unique challenges and methods used for cost accounting in service-based businesses.
3. Lean Accounting and its Role in Cost Reduction: This article examines how lean accounting principles can lead to significant cost savings and improved efficiency.
4. The Use of Cost-Volume-Profit (CVP) Analysis in Managerial Decision-Making: This explores CVP analysis, a crucial tool using cost accounting data to predict profits at different sales volumes.
5. Implementing a Cost Accounting System in a Small Manufacturing Business: A practical guide on how small manufacturers can implement a simple yet effective cost accounting system.
6. The Role of Cost Accounting in Strategic Capacity Planning: This article discusses how cost accounting data informs decisions about production capacity and resource allocation.
7. Cost Accounting and Performance Measurement Systems: This explores the integration of cost accounting data into broader performance measurement and management systems.
8. Ethical Considerations in Cost Accounting: This examines the ethical implications of cost accounting practices and the importance of transparency and accuracy.
9. The Future of Cost Accounting in the Age of Big Data and AI: This explores how technological advancements are transforming cost accounting practices and analytical capabilities.
| a major purpose of cost accounting is to: Principles of Accounting Volume 2 - Managerial Accounting Mitchell Franklin, Patty Graybeal, Dixon Cooper, 2019-02-14 A less-expensive grayscale paperback version is available. Search for ISBN 9781680922936. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today's college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the why as well as the how aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization. |
| a major purpose of cost accounting is to: Costing for the Service Industry Veda Malagatti, 2020-08-11 A significant and innovative feature of this textbook is its detailed insights into the use of costing methodology for practical implications. It will serve to foster the reader’s analytical and critical thinking skills, and it highlights both traditional and the most current practices of costing methodology using real examples drawn from the service industry. Its methodological focus will allow the reader to understand the introduction of relevant costs, their functions and their behavior towards uses and limitations of cost allocations. |
| a major purpose of cost accounting is to: Cost Management (Custom Edition) Charles T. Horngren, Charles et al Horngren, 2014-06-16 This custom edition is published for the University of New England. |
| a major purpose of cost accounting is to: Code of Federal Regulations , 1989 Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries. |
| a major purpose of cost accounting is to: The Code of Federal Regulations of the United States of America , 1975 The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
| a major purpose of cost accounting is to: True Cost Accounting for Food Barbara Gemmill-Herren, Lauren E. Baker, Paula A. Daniels, 2021-06-22 This book explains how True Cost Accounting is an effective tool we can use to address the pervasive imbalance in our food system. Calls are coming from all quarters that the food system is broken and needs a radical transformation. A system that feeds many yet continues to create both extreme hunger and diet-related diseases, and one which has significant environmental impacts, is not serving the world adequately. This volume argues that True Cost Accounting in our food system can create a framework for a systemic shift. What sounds on the surface like a practice relegated to accountants is ultimately a call for a new lens on the valuation of food and a new relationship with the food we eat, starting with the reform of a system out of balance. From the true cost of corn, rice and water, to incentives for soil health, the chapters economically compare conventional and regenerative, more equitable farming practices in and food system structures, including taking an unflinching look at the true cost of cheap labour. Overall, this volume points towards the potential for our food system to be more human-centred than profit-centred and one that has a more respectful relationship to the planet. It sets forth a path forward based on True Cost Accounting for food. This path seeks to fix our current food metrics, in policy and in practice, by applying a holistic lens that evaluates the actual costs and benefits of different food systems, and the impacts and dependencies between natural systems, human systems, agriculture and food systems. This volume is essential reading for professionals and policymakers involved in developing and reforming the food system, as well as students and scholars working on food policy, food systems and sustainability. |
| a major purpose of cost accounting is to: COST ACCOUNTING NARAYAN CHANGDER, 2022-12-24 THE COST ACCOUNTING MCQ (MULTIPLE CHOICE QUESTIONS) SERVES AS A VALUABLE RESOURCE FOR INDIVIDUALS AIMING TO DEEPEN THEIR UNDERSTANDING OF VARIOUS COMPETITIVE EXAMS, CLASS TESTS, QUIZ COMPETITIONS, AND SIMILAR ASSESSMENTS. WITH ITS EXTENSIVE COLLECTION OF MCQS, THIS BOOK EMPOWERS YOU TO ASSESS YOUR GRASP OF THE SUBJECT MATTER AND YOUR PROFICIENCY LEVEL. BY ENGAGING WITH THESE MULTIPLE-CHOICE QUESTIONS, YOU CAN IMPROVE YOUR KNOWLEDGE OF THE SUBJECT, IDENTIFY AREAS FOR IMPROVEMENT, AND LAY A SOLID FOUNDATION. DIVE INTO THE COST ACCOUNTING MCQ TO EXPAND YOUR COST ACCOUNTING KNOWLEDGE AND EXCEL IN QUIZ COMPETITIONS, ACADEMIC STUDIES, OR PROFESSIONAL ENDEAVORS. THE ANSWERS TO THE QUESTIONS ARE PROVIDED AT THE END OF EACH PAGE, MAKING IT EASY FOR PARTICIPANTS TO VERIFY THEIR ANSWERS AND PREPARE EFFECTIVELY. |
| a major purpose of cost accounting is to: Standards, Rules & Regulations - Cost Accounting Standards Board United States. Cost Accounting Standards Board, 1976 |
| a major purpose of cost accounting is to: INTRODUCTION TO COST ACCOUNTING Nishi Malhotra, 2022-12-26 This book is meant for beginners as well as advanced students of Cost Accounting. In today's financial world costing has become an extremely important decision. In an era of limited resources, the success of management depends on the optimum utilisation of the available resources. This book provides insight into cost accounting as a separate discipline, various components of cost and cost sheet, and different types and techniques of cost. This book will provide a comprehensive study of different principles and techniques of cost accounting to facilitate the identification, analysis, and classification of cost components in order to ensure managerial decision-making. |
| a major purpose of cost accounting is to: Advanced Cost Accounting & Cost System Dr. M. G. Mulla, 2023-08-01 Advanced Cost Accounting & Cost Systems encompass sophisticated techniques for cost analysis, allocation, and control, enabling organizations to optimize costs and make informed management decisions. |
| a major purpose of cost accounting is to: Management and Cost Accounting Andreas Taschner, Michel Charifzadeh, 2016-09-19 Management and cost accounting has been the basic toolbox in business administration for decades. Today it is an integral part of all curricula in business education and no student can afford not to be familiar with its basic concepts and instruments. At the same time, business in general, and management accounting in particular, is becoming more and more international. English clearly has evolved as the lingua franca of international business. Academics, students as well as practitioners exchange their views and ideas, discuss concepts and communicate with each other in English. This is certainly also true for cost accounting and management accounting. Management Accounting is becoming increasingly international. Management and Cost Accounting is a new English language textbook covering concepts and instruments of cost and management accounting at an introductory level (Bachelor, but also suited for MBA courses due to strong focus on practical applications and cases). This textbook covers all topics that are relevant in management accounting in business organizations and that are typically covered in German and Central European Bachelor classes on cost accounting and management accounting. After an introduction to the topic, including major differences between the German approach and the purely Anglo-Saxon approach of management accounting, the book describes different cost terms and concepts applied in German cost accounting, The book is much more specific here compared to US-American standard textbooks. Based on different cost concepts, the topic of cost behavior is discussed, including the determination of cost functions. The heart of the book guides the reader through the general structure of a fully developed cost accounting system following the German and Central European standard: It starts with cost type accounting, moves on to cost center accounting and finally deals with cost unit accounting, assigning cost to goods and services offered in the market. The remaining parts of the book deal with decision making and how management and cost accounting data can support managers in this task. A comparison of absorption costing and variable costing introduces the reader to management decisions such as product portfolio and outsourcing decisions. Additionally, cost-volume-profit analysis (break-even-analysis) is covered. The book closes with a comprehensive treatment of cost planning and variance analysis. |
| a major purpose of cost accounting is to: Manufacturers' News , 1920 |
| a major purpose of cost accounting is to: Costs And Returns For Agricultural Commodities Mary Ahearn, 2021-11-28 Policymakers, farmers, managers of agriculture and others look to agricultural economists for accurate estimates of the costs and returns of individual agricultural commodities. But there is great diversity and disagreement among practitioners about the best method for such analysis. The contributors to this volume explore how different uses of estimates determine different methods of estimation, as well as evaluating what the preferred methods are for similar uses. |
| a major purpose of cost accounting is to: Concrete , 1919 |
| a major purpose of cost accounting is to: Hearings United States. Congress. House. Committee on Banking and Currency, |
| a major purpose of cost accounting is to: Engineering and Contracting , 1919 |
| a major purpose of cost accounting is to: To Extend the Defense Production Act of 1950, as Amended United States. Congress. House. Committee on Banking and Currency, 1970 |
| a major purpose of cost accounting is to: To Extend the Defense Production Act of 1950 United States. Congress. House. Banking and Currency Committee, 1970 |
| a major purpose of cost accounting is to: Pacific Coast Architect , 1920 |
| a major purpose of cost accounting is to: Role of Giant Corporations United States. Congress. Senate. Select Committee on Small Business. Subcommittee on Monopoly, 1969 |
| a major purpose of cost accounting is to: Essentials of Cost Accounting for Health Care Organizations Steven A. Finkler, David Marc Ward, Judith J. Baker, 2007 Provides an in-depth look at cost accounting for healthcare managers. Covers the foundations of cost accounting, information for planning and control, tools to aid in decision making, and future trends. |
| a major purpose of cost accounting is to: Bankers Monthly , 1919 |
| a major purpose of cost accounting is to: Engineering & Contracting , 1922 |
| a major purpose of cost accounting is to: The American Contractor , 1924 |
| a major purpose of cost accounting is to: Financial Management of Libraries and Information Centers Robert H. Burger, 2016-08-22 Covering everything from auditing and budgeting to contracts, revenue and expenditures, forecasting, and ethics in financial management, this book addresses the full spectrum of topics and skills needed by today's library managers. Many library managers learn financial management on the job, within the framework of a specific organization. The sink or swim method of skill acquisition can be effective, but it is inefficient, stressful, and typically leaves one lacking in foundational concepts and principles. This book provides a logical, organized way for library school students, librarians, and others such as library board members to gain the specific knowledge critical to the financial management of libraries and information centers. This book covers the full spectrum of topics and skills needed by today's managers—from the basics of budgeting, accounting, and financial statements to audits, forecasting, risk management, and revenue sources. There are even chapters on ethical considerations and advocacy. The skills readers will learn from this guide are of critical importance in this era of financial constraints and accountability at every level of the organization. Students in management and financial management courses and practicing library managers seeking to improve their financial management skills will find this book an essential tool for success. |
| a major purpose of cost accounting is to: FIA Foundations in Management Accounting - FMA Study Text-2013 BPP Learning Media, 2012-10-01 FIA - FMA Management Accounting (ACCA F2) Study Text |
| a major purpose of cost accounting is to: ACCA Paper F2 - Management Accounting Study Text BPP Learning Media, 2009-07-01 This Study Text has been reviewed by the examiner and concentrates on the key areas of the syllabus, taking into account the examiner's guidance on how topics will be examined. The Study Text has a step-by-step approach to topics and lots of exercises in which you can practise the calculations. We provide a detailed chapter on spreadsheets and a basic maths appendix, for those who need some revision in that area. |
| a major purpose of cost accounting is to: College and University Business Administration Deirdre McDonald Greene, 1992 |
| a major purpose of cost accounting is to: Concrete Harvey Whipple, 1919 |
| a major purpose of cost accounting is to: Health System Efficiency Jonathan Cylus, Irene Papanicolas, Peter C. Smith, 2016-12-15 In this book the authors explore the state of the art on efficiency measurement in health systems and international experts offer insights into the pitfalls and potential associated with various measurement techniques. The authors show that: - The core idea of efficiency is easy to understand in principle - maximizing valued outputs relative to inputs, but is often difficult to make operational in real-life situations - There have been numerous advances in data collection and availability, as well as innovative methodological approaches that give valuable insights into how efficiently health care is delivered - Our simple analytical framework can facilitate the development and interpretation of efficiency indicators. |
| a major purpose of cost accounting is to: Encyclopedia of Health Services Research Ross M. Mullner, 2009-05-20 Within two volumes, more than 400 signed entries and their associated bibliographies and recommended readings authoritatively cover issues in both the historical and contemporary context of health services research. |
| a major purpose of cost accounting is to: FIA Foundations in Management Accounting FMA (ACCA F2) BPP Learning Media, 2015-04-30 Foundations in Accountancy (FIA) awards are entry-level, core-skill focused qualifications from ACCA. They provide flexible options for students and employers, and as official ACCA Approved Learning Provider - Content, BPP Learning Media's study materials are tailored to the exams students will take. |
| a major purpose of cost accounting is to: Cost Accounting for Shared IT Infrastructures Reinhard Brandl, 2008-08-21 Reinhard Brandl proposes a method to derive estimates for the expected resource consumption of customer-oriented services during standard load tests. This facilitates the determination of usage-based cost allocation keys significantly. He implements the concept in a software tool kit, evaluates it in a set of experiments with multi-tier database applications, and analyzes how the method can be integrated into existing IT processes at the BMW Group. |
| a major purpose of cost accounting is to: Cost Accounting Prof. Dr. Kirti Pandey, 2017-02-26 Modern business needs information about activities to be planned for the future. A major function of management is decision-making. It requires selection of an optimal course of action from among a set of alternatives. Costing techniques play an important role in gathering and analyzing revenue and cost data. It also helps to control business results and to make a proper appraisal of the performance of persons working in an organisation. Cost accounting also helps in acquiring Plant and Machinery. Adding or dropping Product, make or buy decision, special pricing of products and replacement of assets. |
| a major purpose of cost accounting is to: Innovative Computing and Information Minli Dai, 2011-09-06 This six-volume-set (CCIS 231, 232, 233, 234, 235, 236) constitutes the refereed proceedings of the International Conference on Computing, Information and Control, ICCIC 2011, held in Wuhan, China, in September 2011. The papers are organized in two volumes on Innovative Computing and Information (CCIS 231 and 232), two volumes on Computing and Intelligent Systems (CCIS 233 and 234), and in two volumes on Information and Management Engineering (CCIS 235 and 236). |
| a major purpose of cost accounting is to: Procurement Regulation Directive United States. National Aeronautics and Space Administration, 1983 |
| a major purpose of cost accounting is to: Cost Accounting for Health Care Organizations Steven A. Finkler, David Marc Ward, 1999 This book provides a thorough coverage of the essentials of cost accounting from a health care perspective. It covers all of the basic tools of cost accounting common to all industries, and uses health care examples. Part I provides the reader with a solid foundation in the essentials of cost accounting. The chapters in this section provide an introduction to costing and cost definitions. Various approaches to product costing and cost allocation are discussed. Breakeven analysis is also covered, as are techniques for making nonroutine decisions. Part II presents a number of specific tools for improved planning and control. The chapters in this section focus on forecasting and prediction of future costs, budgeting, flexible budgeting, variance analysis, and management control. Part III addresses a number of additional cost accounting tools that can be helpful in generating management information for decision making. Specifically, there are chapters on cost accounting, productivity measurement, inventory, uncertainty, information systems, and performance evaluation. The criticisms of cost accounting and a number of suggested approaches for improvement are discussed in Part IV. The chapters in this part also examine activity-based costing, total quality management, and the future of costing. Each chapter is followed by one or more articles that apply some of the material discussed in the chapter. The last chapter provides a summary of the book. |
| a major purpose of cost accounting is to: International Encyclopedia of Public Policy and Administration Volume 1 Jay Shafritz, 2019-03-01 This is the first volume of a four-volume encyclopaedia which combines public administration and policy and contains approximately 900 articles by over 300 specialists. This Volume covers entries from A to C. It covers all of the core concepts, terms and processes of applied behavioural science, budgeting, comparative public administration, develo |
| a major purpose of cost accounting is to: Cost Accounting in Government Zachary Mohr, 2017-04-21 Managerial cost accounting is the financial and managerial tool that is used to estimate the organizational cost of products and services in business and government. In recent decades, cost accounting in the United States and other advanced industrial countries has been dominated by discussions of Activity Based Costing or ABC. While ABC can be shown to produce a more accurate estimate of cost than older and more basic types of cost accounting, ABC is not used extensively in many governments. We argue that this recent focus on ABC has stifled examination and discussion of how government cost accounting is being used and how it could be used in practice. The study of cost accounting practice reveals an important and underexplored area of financial management in government. Given the scandals that cost accounting estimates can create and that different types of cost accounting can create different estimates of cost it may be reasonable to ask whether the cost accounting exercise is worth it? Cost Accounting in Government: Theory and Applications addresses these unusual and unusually important topics through a series of studies of different government cost accounting practices. The first section of the book presents two chapters on the history and basic elements of cost accounting. The second section of the book provides further discussion and case studies of actual cost accounting practices in the main areas that cost accounting has been used in government: benchmarking the performance of government services, rate setting, grant overhead cost recovery, and cost management. The last two chapters discuss cost accounting practices in Europe and the future of cost accounting. These cases span local and federal governments and provide a much needed context to the study of cost accounting in government. Aimed at academics, researchers and policy makers in the fields of Accounting, Public Administration, and Government Studies, Cost Accounting in Government: Theory and Applications seeks to address the practical and theoretical gap in government cost accounting research with case studies of different public agencies that are using cost accounting for different purposes. The case studies illustrate that different purposes for cost accounting create unique and interesting cost accounting practices. The case studies provide useful examples of actual cost accounting systems that can inform both research and instruction |
| a major purpose of cost accounting is to: Global Encyclopedia of Public Administration, Public Policy, and Governance Ali Farazmand, 2023-04-05 This global encyclopedic work serves as a comprehensive collection of global scholarship regarding the vast fields of public administration, public policy, governance, and management. Written and edited by leading international scholars and practitioners, this exhaustive resource covers all areas of the above fields and their numerous subfields of study. In keeping with the multidisciplinary spirit of these fields and subfields, the entries make use of various theoretical, empirical, analytical, practical, and methodological bases of knowledge. Expanded and updated, the second edition includes over a thousand of new entries representing the most current research in public administration, public policy, governance, nonprofit and nongovernmental organizations, and management covering such important sub-areas as: 1. organization theory, behavior, change and development; 2. administrative theory and practice; 3. Bureaucracy; 4. public budgeting and financial management; 5. public economy and public management 6. public personnel administration and labor-management relations; 7. crisis and emergency management; 8. institutional theory and public administration; 9. law and regulations; 10. ethics and accountability; 11. public governance and private governance; 12. Nonprofit management and nongovernmental organizations; 13. Social, health, and environmental policy areas; 14. pandemic and crisis management; 15. administrative and governance reforms; 16. comparative public administration and governance; 17. globalization and international issues; 18. performance management; 19. geographical areas of the world with country-focused entries like Japan, China, Latin America, Europe, Asia, Africa, the Middle East, Russia and Eastern Europe, North America; and 20. a lot more. Relevant to professionals, experts, scholars, general readers, researchers, policy makers and manger, and students worldwide, this work will serve as the most viable global reference source for those looking for an introduction and advance knowledge to the field. |
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