We’ve taken our best-selling Cost Accounting guide and enhanced it with fresh, up-to-date information that every company should know! Like the original, our 6-page edition details the many aspects of accounting within businesses; key definitions and examples of accounting practices are listed for ea
The accounting cycle. Transactions are entered into the journal as the first step in the accounting cycle. The journal is organized chronologically, that is, entries are added one after another in the order they occur. Journal entries are transferred to a ledger (posted to a ledger) as the second step.
A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment. Cost accounting will first measure and record these costs individually, then compare input results to output or actual results to aid company management in measuring financial performance.