Kostnaðarreikningurinn
Kostnaðarreikningurinn, which translates to "cost accounting" in English, is a vital part of management accounting. It focuses on identifying, measuring, analyzing, and interpreting the costs associated with producing goods or services. The primary goal of cost accounting is to provide internal management with the information needed to make informed decisions regarding pricing, production efficiency, and cost control.
This accounting discipline helps businesses understand where their money is being spent throughout the production process.
By meticulously tracking and analyzing these costs, companies can determine the profitability of individual products or