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What Is a Cost Accounting System? What Are the Two

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What is a cost accounting system? What are the two basic types of cost accounting systems?


Definitions:

Descartes

A French philosopher, mathematician, and scientist who is considered one of the fathers of modern Western philosophy, famous for his statement "I think, therefore I am."

Leibniz

A German polymath and philosopher, who made significant contributions to mathematics, metaphysics, and logic, known for his optimism and the concept of monads.

Berkeley

An Irish philosopher of the early modern period known for his theory of immaterialism, which denied the existence of material substance in favor of the perception of such.

Democritus

An ancient Greek philosopher and a central figure in the development of the atomic theory of the universe.

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