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What are various Costing Methods used in Cost Accounting?

The branch of accounting which includes the process of systematically collecting and analyzing all the data related to the various costs incurred by a business is called cost accounting. A business organization's main objective of maximizing profit can only be accomplished if the funds are invested and spent at the right place. So, cost accounting helps the business managers to take decisions by analyzing various alternatives on the basis of cost efficiency. There are many types of costs such as replacement cost, marginal costs, sunken cost, differential costs, capacity cost, opportunity costs, shutdown cost, relevant cost, etc.

To manage and deal with different types of business operations, tasks in various industries the accounting managers use a wide variety of costing methods. Many times students get assigned homework on these costing methods and students find themselves stuck on the assessments. To solve this issue our accounting assignment help service provides the students' assistance on all of the following costing methods.

  • Standard Costing
  • Specific Order Costing
  • Joint and By-Product Costing
  • Job or Terminal Costing
  • Cost Collection Systems
  • Operation Costing
  • Life Cycle Costing
  • Process or Period Costing
  • Target Costing
  • Contract Costing
  • Throughput costing
  • Batch Costing
  • activity based costing
  • Process Costing
  • Cost of Quality
  • Unit or Output Costing
  • Cost Variability
  • Service Costing
  • Absorption Costing
  • Farm Costing
  • Direct Costing
  • Uniform Costing
  • Historical Costing
  • Marginal Costing

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