{"id":999962735,"date":"2022-10-18T13:20:57","date_gmt":"2022-10-18T06:20:57","guid":{"rendered":"https:\/\/bizzi.vn\/?p=999962735"},"modified":"2026-06-09T13:48:50","modified_gmt":"2026-06-09T06:48:50","slug":"cost-accounting-handbook-explanation","status":"publish","type":"post","link":"https:\/\/bizzi.vn\/en\/cost-accounting-handbook-explanation\/","title":{"rendered":"Number of accountants: Explaining the term \u201cCost Accounting\u201d"},"content":{"rendered":"<p><span style=\"font-weight: 400; color: #000000;\">Cost Accounting \u2013 Cost accounting is a form of management accounting, to collect and provide information about costs related to the production process for management to make business decisions.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Index<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/bizzi.vn\/en\/cost-accounting-handbook-explanation\/#Cost_Accounting_%E2%80%93_Ke_toan_chi_phi_la_gi\" >Cost Accounting \u2013 What is cost accounting?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/bizzi.vn\/en\/cost-accounting-handbook-explanation\/#Vai_tro_cua_Cost_Accounting_%E2%80%93_ke_toan_chi_phi\" >The role of Cost Accounting \u2013 cost accounting\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/bizzi.vn\/en\/cost-accounting-handbook-explanation\/#Kiem_soat_cac_khoan_chi_phi_cua_doanh_nghiep\" >Control your business expenses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/bizzi.vn\/en\/cost-accounting-handbook-explanation\/#Tinh_gia_thanh_san_pham\" >As the price of the product<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/bizzi.vn\/en\/cost-accounting-handbook-explanation\/#Kiem_soat_quan_ly\" >Management control<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/bizzi.vn\/en\/cost-accounting-handbook-explanation\/#Kiem_soat_chien_luoc\" >Strategic control<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/bizzi.vn\/en\/cost-accounting-handbook-explanation\/#Moi_lien_he_giua_ke_toan_chi_phi_va_ke_toan_tai_chinh\" >The relationship between cost accounting and financial accounting<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Cost_Accounting_%E2%80%93_Ke_toan_chi_phi_la_gi\"><\/span><span style=\"color: #000000;\"><b>Cost Accounting \u2013 What is cost accounting?<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400; color: #000000;\">Cost Accounting \u2013 Cost accounting is a form of management accounting, used mainly by business leaders. Cost accounting places emphasis on determining all the variable and fixed costs associated with the production process.<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">The goal of cost accounting is to provide the insight management needs to control current operations and plan for the future.<\/span><\/p>\n<p><span style=\"color: #000000;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-999962737 aligncenter\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2022\/10\/calculator-300x200.png\" alt=\"\" width=\"935\" height=\"623\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2022\/10\/calculator-300x200.png 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2022\/10\/calculator-1024x681.png 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2022\/10\/calculator-768x511.png 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2022\/10\/calculator.png 1384w\" sizes=\"(max-width: 935px) 100vw, 935px\" \/><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vai_tro_cua_Cost_Accounting_%E2%80%93_ke_toan_chi_phi\"><\/span><span style=\"color: #000000;\"><b>The role of Cost Accounting \u2013 cost accounting\u00a0<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Kiem_soat_cac_khoan_chi_phi_cua_doanh_nghiep\"><\/span><span style=\"color: #000000;\"><b>Control your business expenses<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">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.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tinh_gia_thanh_san_pham\"><\/span><span style=\"color: #000000;\"><b>As the price of the product<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">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.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Kiem_soat_quan_ly\"><\/span><span style=\"color: #000000;\"><b>Management control<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">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.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Kiem_soat_chien_luoc\"><\/span><span style=\"color: #000000;\"><b>Strategic control<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Types of business expenses<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><b>The variable costs<\/b><span style=\"font-weight: 400;\">: are costs that vary with a change in the quantity of a good or service that a business produces.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Fixed costs<\/b><span style=\"font-weight: 400;\">: is a type of cost that does not change with an increase or decrease in the volume of production.\u00a0<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Operating costs<\/b><span style=\"font-weight: 400;\">: is the cost related to the day-to-day operations of the business. These costs can be fixed or change depending on the characteristics of each business.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Direct costs<\/b><span style=\"font-weight: 400;\">: is a cost that is directly tied to the production of a particular good or service.\u00a0<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Indirect costs<\/b><span style=\"font-weight: 400;\">: is a cost that is not directly related to the product.\u00a0\u00a0<\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\"><img decoding=\"async\" class=\"wp-image-999962719 aligncenter\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2022\/10\/banknotes-next-to-financial-information_1232-138-300x200.jpg\" alt=\"\" width=\"697\" height=\"464\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2022\/10\/banknotes-next-to-financial-information_1232-138-300x200.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2022\/10\/banknotes-next-to-financial-information_1232-138.jpg 626w\" sizes=\"(max-width: 697px) 100vw, 697px\" \/><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Moi_lien_he_giua_ke_toan_chi_phi_va_ke_toan_tai_chinh\"><\/span><span style=\"color: #000000;\"><strong>The relationship between cost accounting and financial accounting<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400; color: #000000;\">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.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Cost accounting aims to provide information about the costs of the business to the audience mainly business managers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">Financial accounting focuses on the financial position and performance of a business through financial statements, which include information about a company&#039;s revenue, expenses, assets and liabilities. The target audience of financial accounting is broader, including people inside the business such as managers, and also outside the business such as investors, shareholders, creditors, etc.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">Above is information related to the term \u201cCost Accounting\u201d. 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.<\/span><\/p>\n<p><span style=\"color: #000000;\">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 &quot;pain&quot; of companies in invoice processing and cost management.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #000000;\">Learn more at:\u00a0<a style=\"color: #000000;\" href=\"https:\/\/bizzi.vn\/\">https:\/\/signup.bizzi.vn<\/a>\u00a0<\/span><\/li>\n<li aria-level=\"1\"><span style=\"color: #000000;\">Contact Info:<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">\u2013 Hotline: 028 6275 0321\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">\u2013 Email: contact@bizzi.vn<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><em>The term Bizzi x Profin<\/em><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Cost Accounting \u2013 Cost accounting is a form of management accounting, intended to collect and provide information about\u2026<\/p>","protected":false},"author":1,"featured_media":999962736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[263],"tags":[],"class_list":["post-999962735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kien-thuc"],"acf":[],"_links":{"self":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999962735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/comments?post=999962735"}],"version-history":[{"count":1,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999962735\/revisions"}],"predecessor-version":[{"id":999981018,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999962735\/revisions\/999981018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media\/999962736"}],"wp:attachment":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media?parent=999962735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/categories?post=999962735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/tags?post=999962735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}