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Accounting Records - Nature and Purpose of Cost Accounting
The quantitative information employed in the management and cost accounting systems can be obtained from with two accounting records sets, usually referred to like ledger systems.
These are as:
a) Interlocking ledger system - it is employ of separate financial and cost ledger systems to meet the individual requirements of management / cost accountants and financial accountants respectively.
b) Integrated ledger system - employ of single unified ledger system, that serves requires of both management and cost accounting and financial accounting. It meets the information desires of management / cost accountants and financial accountants simultaneously.
Average costing method has the following main advantages: 1.It is a realistic costing method useful to management in analyzing operating results and appraising future production
Cost Classification Bases Costs can be classified on either more or one of the given bases as: a) Are the costs dependent on the level of output as like variable or are the
Relationship among Financial Accounting and Cost Accounting The difference among management and cost accounting may be highlighted by using a number of questions namely as;
conclusion
The following is a summary of a cash book for the year ended 31 April 2012 Payments $ Receipts
Mission Foods produces two flavors of tacos, chicken and fish, with the following characteristics: Chicken Fish Selling price per taco $3.00 $4.50 Variable cost p
Methods of Cost Estimation We will consider given cost estimation methods commonly employed, namely as: a. High Low Activity method b. Engineering Analysis c. Account
how variable cost help in decision making.with suitable example
Ordering cost is incurred whenever the inventory is replenished. It includes costs associated with the processing and chasing of the purchase order transportation, inspec
Three oligopolists, A, B and C, produce an identical product, Q. Q is produced under conditions of constant costs, that is, AC = MC = $100. The market demand schedule for Q is:
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