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The two basic types of cost accounting systems are: A. Job order costing and perpetual costing. B. Job order costing and customized product costing. C. Job order costing and customized service costing. D. Job order costing and process costing. E. Job order costing and periodic costing.
It's a type of accounting that deals primarily with costing products and services. Costing a product or service involves determining what costs for material, labor, and burden go into it. It is also called management accounting or managerial accounting.Cost accounting is different from general ledger or financial accounting in that the reports and information that the cost accountant produces is for management only. Very rarely, if ever, is this information allowed outside a company.t's a type of accounting that deals primarily with costing products and services. Costing a product or service involves determining what costs for material, labor, and burden go into it. It is also called management accounting or managerial accounting.