It is Cost Accounting that deals with expenses relating to industrial production, as in the case of manufacture of parts for vehicles.
When we talk of Industrial Cost, we are referring to the accounting and extra-accounting procedures necessary for knowing how much it cost the company to manufacture its products through the industrial process.
The movement of capital of manufacturing companies with exception of the production area is similar to the movement of capital of other types of companies. For this reason, to control the movement of capital of manufacturing companies, the Fundamental Principles of Accounting are applied, also used for other types of companies. However, what makes Cost Accounting different from other branches of accounting are the procedures followed in the area of industrial production, which require application of specific criteria for calculating the Manufacturing Cost.
See Also
Refer to topic Cost Concepts.
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