what do you understand by relevant cost ? explain the different elements of relevant costing

The Question is :-

what do you understand by relevant cost ? explain the different elements of relevant costing ?

NOTES :-

minimum 400 words

free plagiarism

there are three elements of relevant costing ( 1-future cost , 2-cash flow and 3-incremental or differential cost )

talk about those elements

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Relevant cost is a term used in managerial accounting to describe the cost that is specific or relevant to various decisions of the management. Through relevant cost, the managerial accountants are able to eliminate unnecessary data that can lead to complication during the decision- making process (Ehrlenspiel, Kiewert, Lindemann, and Hundal, 2007). Relevant cost applies in a specific decision that is a specific cost may be relevant in a certain decision and irrelevant in the other. For example…..

APA

569 words

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