Essay on Advantages and Disadvantages of Concepts
Livia RAC, dr Györgyi PETKOVICS University of Novi Sad, Faculty of Economics, Subotica, Serbia firstname.lastname@example.org, email@example.com Abstract / Abstrakt In its existence, cost accounting, as main part of management accounting, is continuously changing. Economic realities have made it necessary for most companies to have organizational changes as well as cost reduction. Markets have become global with competitors offering high-quality, low-cost goods and services. Speed, accuracy as well as understanding and meeting consumers’ needs come in front. The proliferation of products and services adds to the complexity of getting work done throughout an organization. This …show more content…
This work aim is to give a short description of costing systems, which are used by companies today. While there are new costing concepts, we have to mention the traditional ones also, because many business organizations still use only traditional costing system.
DEVELOPMENT OF COST-ACCOUNTING Cost accounting as a part of accounting has relatively long past. It has existed since the first decade of 1800. During its life