Statement of Cost accounting
Theoretically, cost sheet and statement of cost are similar. Cost sheet is a component of the manufacturing factory, and its main objective is to present total cost or per unit cost by classifying every...
Category: business quantitative
Scope of Cost Accounting
The following important tasks are included under the scope of cost accounting – 1. To keep a count of investments and to classify and analyze the investments – under cost accounting the total investment...
General Principles of Cost Accounting
The following are the main principles of Cost Accounting: 1. Cause-effect relationship- Cause-effect relationship should be established for each item of cost. Each item of cost should be related to its cause as minutely...
Objections Against Cost Accounting
A number of objections are generally raised against the introduction of costing on various grounds. The following are some of the important objections usually raised: 1. Want of necessity- It has been argued that...
Techniques of Costing
(1)Standard costing- In this technique, the vari-ous expenditures and costs of producing a commodity are estimated under general working conditions and on the basis of this various standards are fixed. In this technique the...