Changes in technology make it extremely important for businesses to see their production processes as a cost-centered target and maintain this understanding in order to be successful in the future. Technological developments have caused changes in the weights of cost elements of businesses and have led to the emergence of new cost accounting applications. These changes have inevitably brought about different approaches in the cost accounting systems of businesses. Developments in technology have brought about changes in the industry as in every field. The reflections of technology in the industry can be understood through the industrial revolutions. The industrial revolution, which began with the primitive weaving loom in the 18th century, has made significant contributions to humanity over three hundred years, particularly through mass production facilities. With the industrial revolutions, innovation and development have occurred in many areas. Up to today, four industrial revolutions have taken place. In this context, the aim of the study is to explore the impact of these revolutions in the industry on cost accounting within a theoretical framework. The study first explains the concept of industrialization in production, then the industrial revolutions that have occurred up to the present day, and finally, the theoretical effects of these revolutions on production technology and cost accounting are discussed. In this context, technological revolutions have introduced new methods in production systems of businesses, and with the development of technology, automation in production has increased. This has led to changes in the cost structure elements, particularly in direct labor and general production expenses, while also bringing new cost calculation systems.