The term cost accounting is:
A) The precursor to management accounting
B) Commonly used to refer to financial accounting.
C) Encompasses both financial and management reporting
D) The same as budgeting

Question

Quizplus · Accepted Answer

Cost accounting is considered a precursor to management accounting because it focuses on determining the costs of products, projects, or processes within a company to aid in planning, controlling, and decision making, which are key aspects of management accounting.

The Term Cost Accounting Is