Cost Accounting

Md. Monowar Uddin Talukdar

Lecturer
Department of Business Administration
Khwaja Yunus Ali University
Cost Accounting:
• Cost accounting is a quantitative method that accumulates , classifies,
summarizes and interprets financial and non-financial information for
three major purposes, viz.
• Ascertainment of cost of a product or service;
• Operational planning and control; and
• Decision making.
Types of costs:
• Historical cost
• Estimated cost
• Standard cost
• Total cost
• Marginal cost
• Average cost
Types of costs:
• Marginal cost
• Differential cost
• Replacement cost
• Opportunity costs
• Imputed costs
• Sunk costs
Types of costs:
• Discretionary costs
• Controllable costs
• Relevant costs
• Policy costs
• Locked in costs
Cost and Expenses:
Function of an Organisation:

Cost Accountant

• Research & • Design • Production • Marketing • Customer

Development service

Mainstream
Upstream Activities Downstream activities
Activities