What is cost accounting policy? What is cost accounting policy? Solution Cost accounting policy is to collect cost data, analyze them and give a summarized report of evaluation for the various alternative courses of actions that which could minimize costs with maximised profits for a firm. Thus cost accounting main objective is to provide the firm with most appropriate course of action that could be considered with cost efficiency as well as capability of firm. .

1. What is cost accounting policy?
What is cost accounting policy?
Solution
Cost accounting policy is to collect cost data, analyze them and give a summarized report of
evaluation for the various alternative courses of actions that which could minimize costs with
maximised profits for a firm. Thus cost accounting main objective is to provide the firm with
most appropriate course of action that could be considered with cost efficiency as well as
capability of firm.