Cost accounting is a managerial accounting which aims in understanding company's total cost by determining various costs and fixed costs. These help the management to have a visibility on cost information and get an idea about future plan. Objectives include to serve as guide in price fixation, reveal economical sources in production process, provide effective system of stores and material and so on. An organisation can choose on profitable products easily. With this cost controlling can be easy. A total cost foundation can be made, with a company can understand the level of production. Bonus plan handling can be planned well by cost accounting method. Fhis can be helpful in understanding the bonus amount for workers and high end production can be expected. Statements are made as records for every business organisation, which minimises chances of fraud in the company. This can enhance communication among departmental managers as well. More details can be obtained from the presentation.

Abhijith S

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