"Cost accounting" is a subset of accounting that deals with the identification, analysis, and control of costs within a company. Its main objective is to understand the cost structure of a business, plan, control, and monitor costs, and support decisions for cost optimization and efficiency improvement. Cost accounting aims to determine and evaluate the costs of individual products, services, projects, or business areas to improve profitability and make economic decisions.
Typical features of software in the "cost accounting" area may include:
Cost type accounting: Recording and categorizing costs according to different cost types such as material costs, labor costs, depreciation, operating expenses, etc.
Cost center accounting: Allocating costs to the various cost centers or departments within the company to clarify responsibility for costs and support internal cost allocation.
Cost object accounting: Allocating costs to individual products, services, or orders to analyze and evaluate profitability at the level of cost objects.
Cost planning and control: Planning cost budgets, monitoring actual cost developments, identifying deviations, and implementing measures for cost control.