This unit discusses cost accounting and how it differs from financial accounting. We try to carefully explain the key vocabulary and different approaches.
Now Studying: Cost Accounting
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Core Training Activities
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Multiple Choice Activity
Select the best match between unit terms and their definitions.
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Listening Comprehension Activity
Listen to short audio clips in English and then spell them correctly.
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Spelling and Recognition
Identify and spell a vocabulary term correctly given only the definition.
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Vocabulary Builder Activity
Students will learn the following key terms and phrases:
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Reading Activity: Cost accounting
Improve your reading comprehension and vocabulary in context with our interactive reader.
Management accounting is based heavily on cost accounting, but unless you have worked in this area
you are unlikely to know exactly what it is. So, what is cost accounting?
At its simplest cost accounting is a method of evaluating the overall costs, both actual and notional,
which are attributable to conducting business. This could be a per unit cost on goods produced, or a per
hour cost for…
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Reading Comprehension Quiz
Test your understanding of the reading material with a quick comprehension quiz.
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Speaking Practice Activity
Master your pronunciation by recording yourself and receiving feedback from native-speaking teachers.
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Investments are made by evaluating the underlying value.
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The company has made successive losses in the past five years.
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Taking the two ideas into consideration, the relative merits of the first are clear.
... and more sentences to practice.
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Writing Practice Activity
Improve your writing skills with guided essay questions and professional correction.
- How could cost accounting be used to benefit a company?
- What are the main differences between cost and financial accounting?
