Business related information is provided to the owner, management, employees and to the government, creditors, investors and customers by accounting.
Financial accounting is based on the actual past and cost accounting is based on planning and controlling and budget preparation is a part of planning and controlling. The management is facilitated an idea about the elimination of the weak performances by comparing the budgeted performance with actual performance.
The following methods can be employed for controlling the costs:
To implement successful cost control some of the requirements are as follows:
Accounting Basics Tutorial
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