Cost Accounting - What do you mean by costing?

Q: What do you mean by costing?

Costing is any system for assigning costs to an element of a business. Costing is typically used to develop costs for any or all of the following: Customers. Distribution channels.

Answer

Any method of allocating expenses to a part of a company is known as costing. It is common practice to employ costing when developing costs for customers. Methods of distribution.

Cost Accounting - What do you mean by costing?

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