![]() ![]() ![]() You define cost types, cost centers, and cost objects to analyze what the costs are, where the costs come from, and who should bear the costs.įirst, you define a chart of cost types with a structure and functionality that resembles the general ledger chart of accounts. The following diagram shows the workflow in cost accounting.Ĭost types, cost centers, and cost objects Cost types, cost centers, and cost objects.Workflow in cost accountingĬost accounting has the following main components: In cost accounting, you allocate actual and budgeted costs of operations, departments, products, and projects to analyze the profitability of your company. The types of costs you incur running a business.Cost accounting information is designed to analyze: Cost accounting can help you understand the costs of running a business. ![]()
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