Cost accounting as part of the system
of accounting information
they are the benefits that result from the information that this supplies, since its ignorance or inadequate handling could cause problems for the company, such as the sub or on valuation of the costs of sales, of the utilities or of the inventories; which causes business losses, among others
source of information to define strategies in the setting of:
prices
utility goals
operational decision making
tactics
planning
financial
has great importance in the processes of
planning
domain
Decision making
relationship with
Financial accounting
It allows
evidence the faults and forces of a
cost system within the organization
Standard standards for cost accounting
International regulations on costs for the private sector
the disclosure of the information should be presented a breakdown of the
expenses, using the classification based on the nature or function thereof within
the company
Identify the procedures that are performed when calculating the cost of an inventory
Defines the characteristics of construction activities cataloged as costs
Establishes the elements to calculate the costs of a property, plant and equipment
Determine how to account for borrowing costs
Determines that biological products should be measured at fair value less costs
It establishes that only the costs that have to do directly with the exploration of resources
minerals can be recognized as costs incurred
International regulations on costs for the public sector
Determines the use of one of the two application models, which is based on the nature of the
expenses and the one that is based on the expense function
Determines the alternative treatment offered by the standard by allowing capitalization of some costs
It establishes that all those entities controlled and controlled jointly will account for
your investments to the cost method or participation method, when presenting your statements
financial separately
It determines the accounting of the costs and the income that will be distributed in the different
periods in which the contract is developed
In the inventories, the consideration of services, such as services to clients, is contemplated
This type of assets are very difficult to value, being the professional judgment the criterion to do it