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Accounting Handbook: Explaining the Term “Cost Accounting”

Cost Accounting – Kế toán chi phí là một hình thức kế toán quản trị, nhằm thu thập và cung cấp các thông tin về chi phí liên quan đến quá trình sản xuất cho ban lãnh đạo để đưa ra các quyết định kinh doanh.

Cost Accounting – Kế toán chi phí là gì?

Cost Accounting – Kế toán chi phí là một hình thức kế toán quản trị, được sử dụng chủ yếu bởi ban lãnh đạo doanh nghiệp. Kế toán chi phí đặt trọng tâm vào việc xác định tất cả các chi phí biến đổi và cố định liên quan đến quá trình sản xuất.

The goal of cost accounting is to provide the insight management needs to control current operations and plan for the future.

Vai trò của Cost Accounting – kế toán chi phí 

Control your business expenses

Cost accounting helps to classify expenses such as direct costs, indirect costs, selling expenses, factory costs, etc., which will help businesses control costs and optimize operational processes.

As the price of the product

Cost accounting plays a particularly important role in determining the value of what the business has spent to produce products. The administrator will base it on to calculate the reasonable selling price of the product compared to the expenses spent.

Management control

Information on costs arising from different departments provided to managers will contribute to increasing efficiency for operating decisions, minimizing risks in production and business activities, and helping businesses save costs, limit waste and thereby achieve business goals.

Strategic control

The information and data that cost accounting provides are long-term, reflecting the current situation of the business, so that managers have long-term plans in long-term cost planning.

Types of business expenses

The relationship between cost accounting and financial accounting

Cost accounting and financial accounting both use a common data source, which is accounting documents. However, these data will be classified and used in different ways depending on different governance objectives.

Above is information related to the term “Cost Accounting”. Besides, in order to help accountants reduce manual operations, digitize the accounting-financial operation process in the pioneering organization Bizzi launched the Lean Cost Management Platform for businesses.

With a solution to automate bill processing using AI artificial intelligence and process automation using RPA robots, Bizzi has become the name mentioned as an effective right-hand man for the accounting team in the community. Vietnamese businesses thanks to touching the "pain" of companies in invoice processing and cost management. 

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– Email: contact@bizzi.vn

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