Posted inBasics
Posted inBasics
Cost Accounting – Cost Reduction
Cost reduction is to be understood as the achievement of real and permanent reduction in…
Posted inBasics
Requirements for Successful Cost Control
The following requirements are to be fulfilled to implement successful cost control: ● A plan and…
Posted inBasics
Cost Control Techniques
Costs can be controlling by employing the following methods: ● Material Control ● Labor Control ● Overheads Control…
Posted inBasics
Cost Accounting – Cost Control
Conceptually, accounting is the discipline that provides information on which external and internal users of…
Posted inBasics
Cost Accounting – Cost Sheet
A cost sheet is prepared to know the outcome and breakup of costs for a…
Posted inBasics
Cost Accounting – Elements of Cost
The following chart shows the various elements of cost and how they are classified. Direct…
Posted inBasics
Cost Accounting – Classification of Cost
Costs can be classified based on the following attributes: By Nature In this type, material,…
Posted inBasics
Cost Accounting vs Financial Accounting
Both cost accounting and financial accounting help the management formulate and control organization policies. Financial…
Posted inBasics
Cost Accounting – Advantages
The advantages of cost accounting are: Disclosure of profitable and unprofitable activities Since cost accounting…
Posted inBasics
Concepts of Cost Accounting
Following are the main concepts of cost accounting: Cost There is a cost involved to…