Price system is an accounting method that aims to capture the corporation's costs of output by measuring the information costs of each measure of production , too as fixed prices, such as depreciation of capital equipment.
Price system can first evaluate and record these prices separately, so analyze input outcomes to yield or current outcomes to assist company management in evaluating business performance.
Cost system is one aspect of management system that defines the real cost associated with manufacturing the product or providing the service by looking at all expenses within the supply chain.
It is made for the purpose of budget planning and profit investigation. The data derived from The process is important to managers in determining which products, departments or companies are most productive and which people require improvement.
The accounting data system is a part of the organisation's data system that focuses on processing business information. Some corporations have artificial intelligence-based information systems.
Finance and finance business is using AI as crime detection. Retail business is utilizing AI for consumer services. AI is also employed in cybersecurity business. It requires expert hardware and software systems and applying statistics and model. ( Pathak, Jagdish& Lind, mother R., Nov 2003)
The price accounting is the business expert who determines the current costs associated with offering a service or manufacturing the product.
They achieve that by inspecting all of the related expenses within the supply chain. The use of price accounting is for profit analysis and budget planning.
The business information provided by price accountants assist executives determine which products, services, operations or departments are least and most productive, according to the Bureau of Labor Statistics.