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Friday, 10 June 2016

C3 COST ACCOUNTANCY DEFINITIONS

COST
An amount of Expenditure incurred on a given thing

COSTING
Technique and process of ascertaining costs

COST ACCOUNTING
Is a formal mechanism by means of which costs of products or services are ascertained and controlled

COST ACCOUNTANCY
Application of costing and cost accounting principles methods and techniques to the science art and practice of cost control and the ascertainment of profitability.
information derived used for managerial decision making


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Commerce Group A May 2022 Paper