[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-661534-105":59,"doc-detail-661534-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","costing-cost-focused-accounting-overview","Costing - cost-focused accounting overview","","Costing is presented as a set of processes, controls, and reports designed to record, classify, and allocate costs across business elements such as customer groups, departments, products, services, facilities, or locations. The document explains the purpose of costing: recording, controlling, pricing, valuing inventory, and supporting decision making. It then compares management, financial, and cost accountants, outlines planning, decision making, and control processes, and introduces management accounting techniques and a cost transformation model aimed at cost-competitiveness.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/costing-cost-focused-accounting-overview/661534/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/costing-cost-focused-accounting-overview/661534.png","ImageObject",300,407,{"name":92,"@type":93},"aboduw","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-29","2026-10-28",true,{"@type":102,"interactionType":103,"userInteractionCount":14},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What is a costing system and what does it cover?","Question",{"text":112,"@type":113},"A costing system consists of processes, controls, and reports used to record, classify, and allocate costs to different business elements. It can cover customer groups, departments, products, services, facilities, or geographical locations.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What are the main purposes of costing?",{"text":117,"@type":113},"Costing helps record costs, control costs, price products, value inventory, and support decision making.",{"name":119,"@type":110,"acceptedAnswer":120},"How do management accountants, financial accountants, and cost accountants differ?",{"text":121,"@type":113},"Management accountants assess internal information to support decisions and improve future performance. Financial accountants are often external, ensure compliance, and focus on recording financial transactions and preparing financial statements. Cost accountants focus on recording, classifying, and interpreting costs to support cost control and cost analysis.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},661534,1793169488,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":14,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":52,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":129,"read_time":143},3985747862266,"https://ap-avatar.wpscdn.com/davatar_085a072bc5b1113ac321206ff7593b45","| P1 |  | 1 |  |\n| --- | --- | --- | --- |\n\nCosting  \n\n|  | Costing |\n| --- | --- |\n\nA costing system is a set of processes, controls and reports that are designed to record, classify and allocate costs to different elements of a business. This includes customer groups, departments, processes, products, services, facilities or geographical locations.  \nThe purpose of costing:  \n• To record costs  \n• To control costs  \n• To price products  \n• To value inventory  \n• To aid decision making  \n\n|  | Types of accounting |\n| --- | --- |\n\nWhilst most accountants will carry out a diverse range of duties and cover a number of different areas of responsibility, there are three types of accountants with clearly defined roles:  \n\n| Management accountants | •\u003Cbr>•\u003Cbr>• | Assess internal accounting information\u003Cbr>Provide a basis on which management decisions can be made Focus on improving future performance |\n| --- | --- | --- |\n| Financial accountants | •\u003Cbr>•\u003Cbr>• | Often external to a company\u003Cbr>Ensure compliance with financial and accountancy regulations Focus on the recording of financial transactions |\n\n4  \n|  | •\u003Cbr>• | Summarise information in the financial statements\u003Cbr>Provide external parties with a view of the business’s financial performance |\n| --- | --- | --- |\n| Cost\u003Cbr>accountants | •\u003Cbr>•\u003Cbr>•\u003Cbr>• | A sub-category of management accounting\u003Cbr>Focused on the recording, classification and interpretation of costs Provide data for management accountants to base their analysis on Help facilitate improved cost control |\n\n\n|  | Key differences between accounting types |  |  |  |  |  |  |\n| --- | --- | --- | --- | --- | --- | --- | --- |\n|  |  | Management accounting |  | Financial accounting |  | Cost\u003Cbr>accounting |  |\n|  | Focus | Broad, forward looking focus on future decisions |  | Historical focus on past transactions and results |  | Narrow focus on cost calculation, control and reduction |  |\n|  | Basis | Financial and non-financial information |  | Actual financial information on past performance |  | Both past and present cost information |  |\n|  | Demographic | Management and decision makers within the business |  | External parties: shareholders, creditors and public regulators |  | Internal\u003Cbr>management and\u003Cbr>management accountants |  |\n|  | Construction | Format depends on the needs of the user |  | Set formats inline with accounting standards |  | Format depends on the needs of the user |  |\n|  | Availability | Confidential |  | Publicly reported |  | Confidential |  |\n\n5  \n|  | Definition |  |\n| --- | --- | --- |\n|  | CIMA Definition of Management Accounting |  |\n|  | “The application of the principles of accounting and financial management to create, protect, preserve and increase value for the stakeholders of for-profit and not-for-profit enterprises in the public and private sectors.” |  |\n\n\n|  | Planning, decision making and control |\n| --- | --- |\n\nThe key processes that management are involved in are planning, decision making and control.  \nPlanning  \nThe planning process concerns setting the direction and objectives of the business and can be short-term (tactical planning) or long-term (strategic planning) .  \nDuring the planning process a business will use a mission statement to help set effective goals and objectives.  \nDecision making  \nDecision making involves selecting the best path towards the realisation of the plan's objectives, using relevant and reliable information to facilitate the process.  \n\n|  | Management accounting techniques that can be applied to tactical decision making: |  |  |\n| --- | --- | --- | --- |\n|  | • | Budgeting – To help with planning and cost management |  |\n|  | • | Variance analysis – To help with spending decisions |  |\n|  | • | Forecasting trends – To plan for the future |  |\n|  | • | Investment appraisal – To analyse financial implications of future decisions |  |\n|  | • | Product costing – To assist in pricing decisions |  |\n\n6  \nControl  \nControl centres around using ","cbCaijWFMKEwbZvh","https://ap.wps.com/l/cbCaijWFMKEwbZvh","pdf",338340,"English","# Costing\n# Types of accounting\n## Management accountants\n## Financial accountants\n## Cost accountants\n# Key differences between accounting types\n# Planning, decision making and control\n## Planning\n## Decision making\n## Control\n# Management accounting techniques for tactical decisions\n# Levels of management, planning and control\n## Strategic control\n## Tactical control\n## Operational control\n# Control and the management accountant\n# Cost transformation and management model\n## Engendering a cost-conscious culture","[{\"question\":\"What is a costing system and what does it cover?\",\"answer\":\"A costing system consists of processes, controls, and reports used to record, classify, and allocate costs to different business elements. It can cover customer groups, departments, products, services, facilities, or geographical locations.\"},{\"question\":\"What are the main purposes of costing?\",\"answer\":\"Costing helps record costs, control costs, price products, value inventory, and support decision making.\"},{\"question\":\"How do management accountants, financial accountants, and cost accountants differ?\",\"answer\":\"Management accountants assess internal information to support decisions and improve future performance. Financial accountants are often external, ensure compliance, and focus on recording financial transactions and preparing financial statements. Cost accountants focus on recording, classifying, and interpreting costs to support cost control and cost analysis.\"}]","Costing - cost-focused accounting overview | PDF",25]