| Meaning | : | The recording, classifying and summarising of cost data of organization |
| Information type | : | Quantitative |
| Objective | : | Ascertainment of cost of production |
| Scope | : | Concerned with ascertainment, allocation, distribution and accounting aspects of cost |
| Specific Procedure | : | Yes |
| Recording | : | Records past and present data |
| Planning | : | Short range planning |
| Interdependency | : | Can be installed without management accounting |