Cost Accounting and Accounting Systems

The aim of this book is to provide an intro- duction to the theory and practice of cost and management accounting. A cost accounting system is concerned with accumulating costs for inventory valuation to meet external fi- nancial accounting and internal monthly or quarterly profit measurement requirements. A management accounting system accumu- lates, classifies, summarizes and reports in- formation that will assist employees within an organization in their decision-making, planning, control and performance measure- ment activities. This book is concerned with both cost and management accounting, with similar emphasis being placed on both sys- tems.