Cost Accounting Perspectives

Pieter W. Buys ()
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Pieter W. Buys: North-West University

Chapter Chapter 5 in Crafting Efficiency in Managerial Costing System Design, 2024, pp 77-106 from Springer

Abstract: Abstract The primary objective of cost accounting is to generate and provide business information to support decision-makers. Manufacturing encompasses a broad range of both traditional and modern technologies, processes, and environments. Furthermore, even smaller manufacturing operations become complex when broken down into their fundamental components and activities. In the given context, this chapter functions as the third focal point in the three-pillar approach for designing effective managerial costing systems. It explores the application, relevance, range, and scope of cost accounting within a systems thinking mindset. The examination commences with the actual production environment delving into the crucial aspect of cost behavior and management principles, explicitly addressing production costs versus production support costs. Subsequently, the focus shifts to more detailed cost accounting approaches and methods. It is important to note that the objective of this exploration is not to provide a comprehensive and exhaustive guide for cost accountants to grasp the inner workings of each approach and method. Instead, it aims to foster a systematic understanding of when and how a specific aspect of cost accounting should be considered in the overall managerial costing system design process.

Keywords: Cost accounting; Cost behavior; Managerial cost systems; Manufacturing; Systems thinking (search for similar items in EconPapers)
JEL-codes: L60 M41 O32 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-0934-2_5

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DOI: 10.1007/978-981-97-0934-2_5

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