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Cost Accounting Tutoring Services: A+ Grades & On-Time Submission

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What is Cost accounting 

This is one of the branches of accounting which is used to record, investigate, summarize, and identify the cost incurred in different activities associated with the business. This whole process is performed by the firm in order to take a rational decision regarding the usage of cost. This helps management get an idea about where to put more spending and where to reduce it. 

The main objective of Cost Accounting refers to cost control and strategic planning to be a cost-efficient firm or organization. Hence the cash flow statements are prepared to highlight the operating, investing, and financing activities of the firm. This information is used by management to expand the business accordingly. 

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Types of cost accounting

There are four types of cost accounting that are used in firms:

Marginal costing

Marginal costing

This is also referred to as cost-volume-profit analysis and this is used for short-term economic decision-making.

Standard costing:

This costing is used to identify the cost that is incurred in the efficiency of labor and material used for production. 

Activity-based costing:

Activity-based costing

In this type of costing, firms deal with cost drivers and overhead costs. 

Lean costing:

lean costing

This type of costing deals with improvements in financial management practices.

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How can accounting tutoring help you succeed?

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Tutoring Lounge provides you with the best and most experienced tutors. Our experts are always ready to help students who want to learn more. Finance students are always stuck with Cost Accounting numbers but do not worry, our tutors will teach you how to solve lengthy problems, step-by-step tutorials, and the interpretation for decision making.  

Following are the most demanding topics taught by our tutors: 

  • Overhead Application
  • Cost of Labour, Cost of Goods Sold
  • Cost-volume-profit analysis
  • By-Products and Joint Products

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