An analysis of a working cost system

In writing this thesis, an endeavor will be made to familiarize the reader with some of the basic fundamentals of cost accounting. This familiarization will consist of definitions, of nomenclature indigenous to cost accounting. Then an attempt will be made to introduce the various elements which affect the final cost of the finished product in a cost accounting system. This done, the discussion will proceed to illustrate and compare the different types of cost accounting systems generally used in industry today. Having furnished the reader with a brief background of cost accounting, the discussion will analyze the cost system currently employed by the X company. Finally, it is the aim of this paper to demonstrate the cost system which would be recommended for installation by the X company