The Analytical or Costs Accounting collects and analyzes the internal information on costs of the company. It provides information to financial accounting, and simultaneously uses the information it collects. It is based on historical data for both the determination of the actual cost supported and the determination of the standard cost and possible deviations.
A competitive and fast-changing environment requires organizations to have an in-depth knowledge of the financial situation of their activities and of the costs linked to production processes.
Being able to have detailed and well collected all this information gives the possibility to organizations to plan and establish data-based objectives which improves the management of our company.
The analytical accounting allows to have all this information, both financial and non-financial, in a comprehensible and comparable way. This makes better decisions and helps optimize the strategy of the organization.