Eureka! Institutional Repository

Cost Accounting could be characterized as a special topic in the wider area of the Accounting science. In order to understand Cost Accounting, we should understand the general principles and the techniques of the financial economics accounting. Accounting is a very old science. From the time trade and by extension money first appeared, man had the need to record somewhere economic data about their commercial activity or about the economic situation, namely their property facts and also their demands or duties towards others. This systematized form is expressed with the accounting equality: ASSETS= LIABILITIES + CLEAR POSITION.